To decrease rediscount rate from March 15, 2023 in Vietnam

Nguyen Nhu Mai

16:05, 15/03/2023

On March 14, 2023, the State Bank issued Decision 313/QD-NHNN on the refinancing rate, rediscount rate, overnight rate for inter-bank electronic payment, and interest rate for loans for covering the capital shortfall regarding clearing of the State Bank of Vietnam for credit institutions and branches of foreign banks.

According to Vietnam's Decision 313/QD-NHNN, the regulations on interest rates of the State Bank of Vietnam are as follows:

- Refinancing rate: 6.0%/year. (no change)

- Rediscount rate: 3.5%/year (decreased by 1% compared to the previous regulations in Vietnam's Decision 1809/QD-NHNN dated October 24, 2022).

- Overnight rate for inter-bank electronic payment and interest rate for loans for covering the capital shortfall regarding clearing of the State Bank of Vietnam for credit institutions and foreign bank branches: 6.0%/year ( decreased by 1% compared to previous regulations).

Vietnam's Decision 313/QD-NHNN takes effect from March 15, 2023 and replaces Vietnam's Decision 1809/QD-NHNN dated October 24, 2022.

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