Decision No. 16/2008/QD-NHNN stipulates the mechanism for managing the basic interest rate in Vietnamese dong, allowing credit institutions to set business interest rates not exceeding 150% of the basic interest rate published by the State Bank of Vietnam. The basic interest rate is published periodically on a monthly basis and may be adjusted promptly when necessary.
적용 범위
Credit institutions, customers (depositors and borrowers), and the State Bank of Vietnam.
핵심 사항
- Credit institutions → set business interest rates not exceeding 150% of the basic interest rate published by the State Bank of Vietnam.
- The State Bank of Vietnam → publishes the basic interest rate on a monthly basis and may adjust it promptly when necessary.
🌐 이 문서의 사회적 영향
- Positive impact: Reduces risk for credit institutions in setting interest rates, creating stability in the money market.
- Negative impact: May cause difficulties for customers when interest rates are higher than the prescribed level.
❓ 자주 묻는 질문
How do credit institutions set interest rates?
Credit institutions set business interest rates (deposit rates, lending rates) in Vietnamese dong for customers not exceeding 150% of the basic interest rate published by the State Bank of Vietnam.
How often is the basic interest rate published?
The basic interest rate is published on a monthly basis and may be adjusted promptly when necessary.
What must credit institutions do if the State Bank adjusts the basic interest rate?
Credit institutions must reset business interest rates according to the new level of the basic interest rate published by the State Bank of Vietnam.
How many times a year is the basic interest rate published?
The basic interest rate is published on a monthly basis and may be adjusted promptly when necessary.
When does this decision take effect?
Decision No. 16/2008/QD-NHNN takes effect from May 19, 2008.
전문
Pursuant to …;
On the mechanism for managing the basic interest rate
in Vietnamese dong
_________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;
Pursuant to the Law on Credit Organizations 1997; the Law Amending and Supplementing Certain Provisions of the Law on Credit Organizations 2004;
Pursuant to the Civil Code 2005;
Pursuant to Decree No. 52/2003/NĐ-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to the guidance of the Prime Minister in Document No. 3168/VPCP-KTTH dated May 16, 2008 regarding the mechanism for managing the basic interest rate;
At the proposal of the Director of the Monetary Policy Department.
Pursuant to …;
Article 1. Regulations on managing the basic interest rate in Vietnamese dong as the basis for credit organizations to set business interest rates as follows:
1. Credit organizations shall set business interest rates (interest rates for deposits, interest rates for loans) in Vietnamese dong for customers not exceeding 150% of the basic interest rate announced by the State Bank of Vietnam for application during each period.
2. The State Bank of Vietnam shall periodically announce the basic interest rate monthly. In cases of necessity, the State Bank of Vietnam shall promptly announce adjustments to the basic interest rate.
Article 2. This Decision takes effect from May 19, 2008. Decision No. 546/2002/QĐ-NHNN dated May 30, 2002 on the implementation of the mechanism for agreed interest rates in commercial credit activities in Vietnamese dong between credit organizations and customers ceases to be effective.
Article 3. The Head of the Office, the Director of the Monetary Policy Department, and the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam branches in provinces and centrally-administered cities; the Management Councils and General Directors (Directors) of credit organizations are responsible for implementing this Decision./.
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