SBV to cut basic interest rate for VND on Oct 21
Monday, 20. October 2008, 09:21:09
In implementation Government guideline for inflation control, to limit the negative effects of global financial crisis and economic downturn, to stabilize the macro economic, to maintain suitable & sustainable growth rate; State Bank of Vietnam will launch the following decisions:
- Decision No 2316/QĐ-NHNN dated 20/10/2008 for basic interest rate for VND from 14% down to 13% per year
- Decision No 2321/QĐ-NHNN dated 20/10/2008 for the interest rate of compulsory reserves applied for
financial institutions. VND interest rate for compulsory reserves increases from 5% to 10% per year.
- Decision No 2318/QĐ-NHNN dated 20/10/2008 for interest rates of refinancing decreases from 15% to 14% per year, discount rate decreases from 13% to 12% per year, overnight rate in inter-banks electronics payment, and loans for balancing account from SBV to other banks from 15% to 14% per year.
- Decision No 2317/QĐ-NHNN dated 20/10/2008 for before due payment for State bonds issued on March 17, 2008 amount of VND 20,300 billion in accordance to demand of withdrawing before due from financial organisations.
All of the above decisions goes on effect on Oct 21, 2008./.
SBV
- Decision No 2316/QĐ-NHNN dated 20/10/2008 for basic interest rate for VND from 14% down to 13% per year
- Decision No 2321/QĐ-NHNN dated 20/10/2008 for the interest rate of compulsory reserves applied for
financial institutions. VND interest rate for compulsory reserves increases from 5% to 10% per year.
- Decision No 2318/QĐ-NHNN dated 20/10/2008 for interest rates of refinancing decreases from 15% to 14% per year, discount rate decreases from 13% to 12% per year, overnight rate in inter-banks electronics payment, and loans for balancing account from SBV to other banks from 15% to 14% per year.
- Decision No 2317/QĐ-NHNN dated 20/10/2008 for before due payment for State bonds issued on March 17, 2008 amount of VND 20,300 billion in accordance to demand of withdrawing before due from financial organisations.
All of the above decisions goes on effect on Oct 21, 2008./.
SBV
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