Decision 1435/QD-NHNN 2008 on the compulsory interest rate on state bank bills issued by the Governor of the State Bank of Vietnam

DECISION

ON THE INTEREST RATE APPLICABLE TO REQUIRED BILL OF THE STATE BANK

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam issued in 1997 and the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam issued in 2003;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19/5/2003 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;
- Pursuant to the Decision No. 362/1999/QD-NHNN1 dated 8 October 1999 on the issuance of the Regulation on issuance of State Bank bills;
- Upon the proposal of the Director of Monetary Policy Department,

DECIDES:

Article 1. From 1 July 2008, to increase interest rate applicable to State Bank bill in Vietnam Dong required to be issued on 17 March 2008 (in accordance with the Decision No. 346/QD-NHNN dated 13 February 2008 of the Governor of the State Bank on the issuance of required bills of State Bank) from 7.8% per annum to 13% per annum for the remaining payment period of the bill.

Article 2. Responsibilities of units of the State Bank:

1. Banking Operation Department of State Bank: to calculate the increased amount of interest, to give notice and transfer it to credit institutions; to make settlement report to the Finance- Accounting Department.

2. Finance- Accounting Department: to provide guidance on the accounting of additionally increased interests of State Bank bills required to be issued on 17 March 2008.

Article 3. This Decision shall be effective from the date of signing.

Article 4. The Director of Administrative Department, Director of Monetary Policy Department, Head of units of the State Bank, Managers of State Bank branches in provinces, cities, General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

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