New Regulations on the Interest Rates for Mandatory Reserve Deposits at the SBV

Bich Hoa

12:16, 10/07/2024

Decision No. 421/QD-NHNN stipulating the interest rates on mandatory reserve deposits and excess reserve deposits of credit institutions and foreign bank branches at the State Bank of Vietnam, issued on March 16, 2020.

Effective from March 17, 2020, the interest rates applied to compulsory reserves and excess reserves of credit institutions and foreign bank branches at the State Bank of Vietnam are as follows:

- For compulsory reserves in Vietnamese Dong: 1.0% per annum;- For compulsory reserves in foreign currency: 0% per annum;- For excess reserves in Vietnamese Dong: 0% per annum;- For excess reserves in foreign currency: 0.05% per annum.

More details can be found in Decision 421/QD-NHNN, which took effect from March 17, 2020, replacing Decision 2497/QD-NHNN.

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