Decision No. 465/2000/QD-NHNN on adjusting the rediscount rate of the State Bank for credit institutions.

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

Regarding the adjustment of the rediscount rate of the State Bank

concerning credit organizations

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;

At the proposal of the Director of the Monetary Policy Department,

DECISION:

Article 1. The State Bank of Vietnam hereby adjusts the rediscount rate for credit organizations to 0.50% per month

Article 2. This Decision takes effect from November 6, 2000 and replaces Decision No. 238/2000/QĐ-NHNN1 dated July 31, 2000 of the Governor of the State Bank of Vietnam on adjusting the rediscount rate of the State Bank of Vietnam for credit organizations.

Article 3. The outstanding balance of rediscount loans of credit organizations at the State Bank of Vietnam as of the end of November 5, 2000 shall continue to be implemented according to the interest rate specified in the loan agreement, without adjustment to the interest rate stipulated in Article 1 above.

Article 4. The Heads of the Office of the State Bank of Vietnam, Heads of units under the State Bank of Vietnam, Branch Governors of the State Bank of Vietnam in provinces and cities, Chairmen of the Boards of Management and General Directors (Directors) of credit organizations are responsible for implementing this Decision./.

Lê Đức Thuý

(Signed)