Decision No. 406/1998/QD-NHNN1 sets the interest rates for foreign currency deposits of credit institutions and State Treasury at the State Bank from December 1, 1998, replacing previous decisions. The interest rates apply to both demand and time deposits.
适用范围
Credit institutions authorized to conduct foreign exchange business, State Treasury, and the State Bank.
要点
- Foreign currencies USD, GBP, DEM, FRF, JPY → interest rate for demand deposits: 2.50%, 4.25%, 1.80%, 1.80%, 0.10% per annum.
- USD, DEM, GBP, FRF, JPY → interest rates for time deposits ranging from one month to one year with different rates.
🌐 本文件的社会影响
- Positive impact: Helps credit institutions and State Treasury adjust interest rates appropriately, enhancing flexibility in monetary management.
- Negative impact: May affect depositors' interests if new interest rates are lower than expectations.
❓ 常见问题
What is the interest rate for foreign currency demand deposits?
The interest rates for demand deposits in foreign currencies such as USD, GBP, DEM, FRF, and JPY are respectively 2.50%, 4.25%, 1.80%, 1.80%, and 0.10% per annum.
For how long are interest rates for foreign currency time deposits applicable?
Interest rates for foreign currency time deposits apply to periods ranging from one month to one year, with varying rates depending on the type of foreign currency.
When does this decision take effect?
This decision takes effect from December 1, 1998, replacing Decision No. 96/1998/QD-NHNN1.
How will the balances of foreign currency demand deposits as of November 30, 1998, be treated?
Balances of foreign currency demand deposits of credit institutions and State Treasury as of November 30, 1998, will be subject to the interest rates specified in this decision.
Which entities are responsible for implementing this decision?
Chairmen of the Board of Directors and General Directors (Directors) of credit institutions, State Treasury, Heads of units under the Central State Bank, and Directors of State Bank Branches in provinces and cities are responsible for implementing this decision.
全文
Pursuant to …;
Regulations on foreign currency deposit interest rates for credit organizations and State Treasury at the State Bank
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank;
Pursuant to the Government Decree No. 15/CP dated March 2, 1993 on the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;
Based on the proposal of the Director of the Monetary Policy Department.
Pursuant to …;
Article 1: Now, the following foreign currency deposit interest rates (excluding mandatory reserve deposits) for credit organizations permitted to operate foreign currencies and the State Treasury at the State Bank are hereby stipulated:
1- Non-term deposits:
|
Type of foreign currency |
Interest rate (% per annum) |
|
US Dollar (USD) |
2,50 |
|
British Pound (GBP) |
4,25 |
|
German Mark (DEM) |
1,80 |
|
French Franc (FRF) |
1,80 |
|
Japanese Yen (JPY) |
0,10 |
2- Term deposits:
|
Term |
Interest rate (% per annum) |
||||
|
|
USD |
DEM |
GBP |
FRF |
JPY |
|
of the Government's Decree No. 104/2022/NĐ-CP dated December 21, 2022 amending and supplementing certain provisions of related decrees concerning the submission and presentation of household registration books and temporary residence certificates when performing administrative procedures and providing public services; |
4,50 |
2,50 |
4,75 |
2,80 |
0,15 |
|
3 months |
4,70 |
3,00 |
5,00 |
2,90 |
0,20 |
|
six months |
4,45 |
3,25 |
5,30 |
3,00 |
0,25 |
|
9 months |
4,40 |
3,15 |
5,50 |
3,10 |
0,27 |
|
1 year |
4,30 |
3,25 |
5,70 |
3,20 |
0,30 |
Article 2:The interest rates prescribed in Article 1 of this Decision shall take effect from December 1, 1998, replacing the interest rates prescribed in Decision No. 96/1998/QĐ-NHNN1 dated March 13, 1998 of the Governor of the State Bank. The balance of non-term foreign currency deposits of credit organizations and the State Treasury as of the end of November 30, 1998 shall be applied according to the interest rates stipulated in this Decision; the balance of term foreign currency deposits will continue to be implemented according to the current interest rates until the end of their terms.
Article 3: The Chairman of the Board of Directors and General Directors (Directors) of credit organizations, the State Treasury, Heads of units under the Central State Bank, and Directors of Provincial and Municipal Branches of the State Bank are responsible for implementing this Decision.
关系图
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