Decision No. 382/1999/QD-NHNN adjusts the refinancing interest rate of the State Bank for credit institutions to 0.5%/month, effective from November 1, 1999. This decision replaces Decision No. 307/1999/QD-NHNN and adjusts the outstanding refinancing loan balance of credit institutions as of October 31, 1999.
Scope of application
Credit institution
Key points
- Credit institution → is subject to the adjusted refinancing interest rate of 0.5%/month starting from November 1, 1999.
- The outstanding refinancing loan balance of credit institutions as of October 31, 1999 → will be adjusted according to the new interest rate.
- This decision → takes effect from November 1, 1999, and replaces Decision No. 307/1999/QD-NHNN.
🌐 Social impact of this document
- Positive impact: Reduces borrowing costs for credit institutions, helping to lower interest rates for customers.
- Negative impact: Requires time to adjust, which may cause difficulties in managing cash flow for credit institutions.
❓ Frequently asked questions
What is the new refinancing interest rate?
The new refinancing interest rate has been adjusted to 0.5%/month.
When does this decision take effect?
This decision takes effect from November 1, 1999.
How will the outstanding refinancing loan balance of credit institutions as of October 31, 1999, be adjusted?
The outstanding refinancing loan balance of credit institutions as of October 31, 1999, will be adjusted according to the new interest rate of 0.5%/month.
Which decision does this decision replace?
This decision replaces Decision No. 307/1999/QD-NHNN dated September 1, 1999, issued by the Governor of the State Bank.
What actions must credit institutions undertake after this decision takes effect?
Credit institutions must adjust the refinancing interest rate to the new rate of 0.5%/month and adjust the outstanding refinancing loan balance as of October 31, 1999.
Full text
DECISION
Regarding the adjustment of the rediscount rate of the State Bank of Vietnam for credit institutions
- ______________________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 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;
Pursuant to the proposal of the Director of the Monetary Policy Department,
DECISION:
Article 1The interest rate for refinancing loans from the State Bank of Vietnam to credit institutions is now adjusted to 0.5% per month.
Article 2This Decision takes effect from November 1, 1999, and replaces Decision No. 307/1999/QĐ-NHNN1 dated September 1, 1999, of the Governor of the State Bank of Vietnam on adjusting the refinancing interest rate of the State Bank of Vietnam for credit institutions.
Article 3The outstanding balance of refinancing loans of credit institutions at the State Bank of Vietnam as of October 31, 1999, shall be adjusted according to the interest rate specified in Article 1 above.
Article 4. The Director of the State Bank of Vietnam's Office, Heads of units under the State Bank of Vietnam, Governors of State Bank of Vietnam branches in provinces and cities, Chairmen of Management Boards and General Directors (Directors) of credit institutions are responsible for implementing this Decision./.
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