Quyết định 1247/2001/QD-NHNN

DECISION

ON THE ANNOUNCEMENT OF THE BASE INTEREST RATE AS A BASIS FOR THE DETERMINATION BY CREDIT INSTITUTIONS OF THE LENDING INTEREST RATE IN VIETNAM DONG FOR CUSTOMERS

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam and Law on the Credit Institutions dated 12 December, 1997;
Pursuant to the Decree No. 15 CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministry-level agencies;
Based on the direction of the Government stated in the Dispatch No. 03/VPCP-KTTH dated 15 January, 2001 on the operation of the base interest rate in Vietnam Dong;
Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1.

To announce the base interest rate as a basis for the determination by credit institutions of the lending interest rate in Vietnam Dong for customers, to be of 0.60% per month.

Article 2.

1. This Decision shall be effective from 01 October, 2001 and supercede the base interest rate which is provided for in the Article 1, Decision No. 1078/2001/QD-NHNN dated 27 August, 2001 of the Governor of the State Bank on the announcement of the base interest rate as a basis for the determination by credit institutions of the lending interest rate in Vietnam Dong for customers.

2. Heads of units of the State Bank, General Managers of State Bank branches in provinces, cities, Chairman of the Board of Director and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.