Reduction of the Refinance and Rediscount Interest Rates of the State Bank of Vietnam from May 13, 2020

13:34, 10/07/2024

This is the notable content of Decision 918/QD-NHNN stipulating the refinancing interest rate, rediscount interest rate, overnight lending rate in interbank electronic payments, and lending rate to cover capital shortages in clearing payments of the SBV for banks, promulgated on May 12, 2020.

The interest rates of the State Bank of Vietnam effective from May 13, 2020, are as follows:

- Refinancing interest rate: 4.5% per annum;- Rediscount interest rate: 3.0% per annum;- Overnight lending rate in interbank electronic payments and lending rate to offset capital shortages in clearing payments by the State Bank of Vietnam to banks: 5.5% per annum.

Thus, the refinancing rate, rediscount rate, overnight lending rate in interbank electronic payments, and lending rates to offset capital shortages in clearing payments by the SBV to banks are all reduced by 0.5% per annum from May 13, 2020.

More details can be found in: Decision 918/QD-NHNN effective from May 13, 2020, replacing Decision 418/QD-NHNN dated March 16, 2020.

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