DECISION

ON MAXIMUM USD DEPOSIT INTEREST RATES AT CREDIT INSTITUTIONS, BRANCHES OF FOREIGN BANKS UNDER CIRCULAR NO.06/2014/TT-NHNN DATED MARCH 17, 2014

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law No.46/2010/QH12 on the State bank of Vietnam dated June 16, 2010;

Pursuant to the Law No. 47/2010/QH12 on credit institutions dated June 16, 2010;

Pursuant to the Government's Decree No. 156/2013/ND-CP dated November 11, 2013 defining the functions, rights, obligations and organizational structure of the State bank of Vietnam

Pursuant to the Circular No. 06/2014/TT-NHNN on maximum USD deposit interest rate at credit institutions, branches of foreign banks under Circular No.06/2014/TT-NHNN dated March 17, 2014;

Upon request of the Director of the Department of Monetary Policies

HEREBY DECIDES

Article 1. The maximum USD deposit interest rates at credit institution, branches of foreign banks under Circular No.06/2014/TT-NHNN dated March 17, 2014 are as follows:

1. The maximum interest rate applicable to USD deposits by organizations other than branches of foreign banks and credit institutions is 0% per annum.

2. The maximum interest rate applicable to USD deposits by individuals is 0% per annum.

Article 2.

1. This Decision comes into effect from December 18, 2015 and replaces the Decision No.1938/QD-NHNN dated September 25, 2015 by the Governor of the State Bank of Vietnam on the maximum interest rates applicable to USD deposits by individuals and organizations at branches of foreign banks and credit institutions under the Circular No.06/2014/TT-NHNN dated March 17, 2014.

2. USD deposit interest rates at credit institutions and branches of foreign banks set by the effective date of this Circular shall apply until the end of deposit term. Where a USD deposit is not withdrawn at the end of its deposit term, the deposit interest rates stipulated herein shall apply.

Article 3. The Chief of Office, Directors of Departments for Monetary Policies and Heads of affiliates of the State Bank, Directors of branches of the State Banks in provinces, Presidents of the Board of Directors, Presidents of member Councils, Directors General (Directors) of credit institutions granting syndicated loans and clients shall be responsible for implementation of this Decision./.