SBV cuts down benchmark interest rates
The Governor of the State Bank of Vietnam (SBV) issued Decision No. 1289/QD-NHNN on June 29 on cutting down its benchmark interest rates. In particular:
- The refinancing interest rate is 10% p.a.,
- The discount interest rate is 8% p.a
- The overnight rate in the inter-bank electronic payment and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks is 11% p.a.
This Decision took effect on July 1, 2012 and replaces Decision No. 1196/QD-NHNN dated June 8, 2012 on the refinancing and discount interest rates and the overnight rate in the inter-bank electronic payment and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks
sbv
> The next dollar undercurrent wave (02/07/2012)
> Credit expansion triggers inflation fears (02/07/2012)
> Standard Chartered offers 5% cash back (02/07/2012)
> SBV disapproves ATM service fees (30/06/2012)
> Banks ordered to limit ATM fees (30/06/2012)
> Lao-Viet Bank upgrades operating system (29/06/2012)
> Credit growth 2012’s buzz words (29/06/2012)
> Bailout package out of reach of many businesses (29/06/2012)
> How to deal with state owned banks’ bad debts? (29/06/2012)
> WB says Vietnam makes good use of its loans (28/06/2012)