Quyết định 423/QD-NHNN

DECISION

PRESCRIBING INTEREST RATES OF DEPOSITS MADE BY STATE TREASURY AND DEPOSIT INSURANCE OF VIETNAM AT THE STATE BANK OF VIETNAM

THE GOVERNOR OF THE STATE BANK OF VIETNAM

- Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

- Pursuant to the Law on credit institutions No. 47/2010/QH12 dated June 16, 2010 and the Law No. 17/2017/QH14 dated November 20, 2017 providing amendments to the Law on credit institutions;

- Pursuant to the Law on deposit insurance dated June 18, 2012;

- Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

- At the request of the Director of the Monetary Policy Department;

HEREBY DECIDES

Article 1. Interest rates of deposits made by the State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam are as follows:

1. The interest rate of deposits in Vietnam Dong made by the State Treasury: 1.0%/year.

2. The interest rate of deposits in foreign currency made by the State Treasury: 0.05%/year.

3. The interest rate of deposits in Vietnam Dong made by Deposit Insurance of Vietnam: 1.0%/year.

Article 2. This Decision comes into force from March 17, 2020 and supersedes the Decision No. 2499/QD-NHNN dated November 29, 2019 of the Governor of the State Bank of Vietnam prescribing interest rates of deposits made by State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam.

Article 3. Chief of the Ministry’s Office, the Director of the Monetary Policy Department, Heads of units affiliated to the State Bank of Vietnam, Directors of branches of the State Bank of Vietnam in provinces and central-affiliated cities, General Director of State Treasury, Chairpersons of the Boards of Directors, and General Directors of Deposit Insurance of Vietnam shall implement this Decision./.