To reduce refinancing interest rates and rediscount interest rates of the State Bank of Vietnam at the same time From October 01

Nguyen Trinh

21:47, 09/07/2024

Decision 1728/QD-NHNN of the State Bank of Vietnam on the refinancing interest rate, rediscount interest rate, overnight lending rate in inter-bank electronic payments, and lending rates to cover capital shortfalls in clearing payments of the State Bank of Vietnam for banks issued on September 30, 2020.

According to Article 2 of Decision 1728/QD-NHNN, the following interest rates of the State Bank of Vietnam are stipulated from October 1, 2020, as follows:

- Refinancing interest rate: reduced from 4.5% per year to 4.0% per year;- Rediscount interest rate: reduced from 3.0% per year to 2.5% per year;

- Overnight lending interest rate in interbank electronic payments and lending to cover shortfalls in the State Bank of Vietnam's clearing and settlement: reduced from 5.5% per year to 5.0% per year.

The Chief of Office, Director of the Monetary Policy Department and Heads of units under the State Bank of Vietnam, Directors of the State Bank branches in provinces and centrally-affiliated cities; Chairpersons of the Board of Directors, Members' Council and General Directors (Directors) of credit institutions, branches of foreign banks are responsible for the implementation of this Decision.

More details can be found in Decision 1728/QD-NHNN, which comes into effect in Vietnam from October 1, 2020, replacing Decision 918/QD-NHNN.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn