Decision No. 1078/2001/QD-NHNN on announcing the basic interest rate as the basis for credit institutions to set interest rates for loans in Vietnamese dong for customers

Pursuant to …;

Regarding the announcement of the basic interest rate as the basis for credit institutions to determinethe interest rate for loans in Vietnamese dong for customers

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GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Organizations dated December 12, 1997;

Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;

Based on the guidance of the Government in Document No. 03/VPCP-KTTH dated January 15, 2001 regarding the management of the basic interest rate in Vietnamese dong;

Pursuant to the proposal of the Director of the Monetary Policy Department,

Pursuant to …;

Article 1. Now, the basic interest rate announced as the basis for credit institutions to determine the interest rate for loans in Vietnamese dong for customers is 0.65% per month.

Article 2.

1. This Decision takes effect from September 1, 2001, and replaces the provision on the basic interest rate set forth in Article 1 of Decision No. 932/2001/QĐ-NHNN dated July 27, 2001, issued by the Governor of the State Bank of Vietnam regarding the announcement of the basic interest rate as the basis for credit institutions to determine the interest rate for loans in Vietnamese dong for customers.

2. Heads of units under the State Bank of Vietnam, Governors of provincial and municipal branches of the State Bank of Vietnam; Boards of Directors and General Managers (Directors) of credit institutions are responsible for implementing this Decision.