DECISION

ON THE ADJUSTMENT OF THE DISCOUNT INTEREST RATE, REFINANCING INTEREST AND THE BASE INTEREST RATE

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam issued in 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam issued in 2003;
Pursuant to the Law on Credit Institutions issued in 1997; the Law on the amendment, supplement of several Articles of the Law on Credit Institutions issued in 2004;
Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1. To announce the interest rates of the State Bank of Vietnam as follows:

1. Re-financing interest rate to be of 6.50% per annum.

2. Discount rate to be of 4.50% per annum.

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Article 2. This Decision shall be effective from 01 December 2005 and replace the Decision No. 316/QD-NHNN dated 25 March 2005 of the Governor of the State Bank of Vietnam on the adjustment of the discount interest rate and refinancing interest rate of the State Bank of Vietnam for credit institutions being banks; the Decision No.1556/QD-NHNN dated 28 October 2005 of the Governor of the State Bank on the base interest rate in Vietnam Dong.

Article 3. The Director of the Administrative Department, the Director of the Monetary Policy Department and Heads of units of the State Bank, Managers of the State Bank's branches in provinces, cities under the central Governments management, the Board of Directors and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.

FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Nguyen Dong Tien