Decision No. 932/2001/QD-NHNN Announces the basic interest rate as the basis for credit institutions to set interest rates on loans in Vietnamese dong for customers

Pursuant to …;

Announce the basic interest rate as the basis for credit institutions to set

interest rates for loans in Vietnamese Dong for customers

GOVERNOR OF THE STATE BANK OF VIETNAM

Based on the Law on the State Bank of Vietnam and the Law on CreditInstitutions dated December 12, 1997;

Based on Decree No. 15/CP dated March 2, 1993 of the Government onthe tasks, powers, and responsibilities of state management by ministriesand 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 basicinterest rate in Vietnamese Dong;

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

DECISION:

Article 1.Now announce the basic interest rate as the basis for credit institutions toset interest rates for loans in Vietnamese Dong for customers at 0.65% per month.

Article 2.

1-This Decision takes effect from August 1, 2001 and replaces theprovisions on the basic interest rate in Article 1 of Decision No. 836/2001/QĐ-NHNN dated June 28, 2001 of the Governor of the State Bank ofVietnam on announcing the basic interest rate as the basis for creditinstitutions to set interest rates for loans in Vietnamese Dong for customers.

2-The heads of units under the State Bank of Vietnam, the Directors of theState Bank's branches in provinces and cities; the Boards of Managementand General Managers (Directors) of credit institutions are responsible forimplementing this Decision./.