DECISION

ON INTEREST RATE APPLICABLE TO US$ DEPOSIT OF LEGAL ENTITIES AT CREDIT INSTITUTIONS

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam issued in 1997; the Law on amendment, supplement of several articles of the Law on the State Bank of Vietnam issued in 2003;
- Pursuant to the Law on Credit Institutions issued in 1997; the Law on amendment, supplement of several articles of the Law on Credit Institutions issued in 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
- Upon the proposal of the Director of Monetary Policy Department,

DECIDES:

Article 1. Credit Institutions shall determine the interest rate applicable to US$ deposit of legal entities under the agreement mechanism in line with the demand for business capital, capital supply and demand in the domestic market and interest rate of international market.

The legal entities mentioned in this Article shall include economic organizations, state agencies, people armed forces; political organizations, socio-political organizations; political, socio-vocational organizations, social organizations, socio-vocational organizations; social funds, charity funds; other organizations which fully satisfy the conditions provided for in Article 84 of the Civil Code.

Article 2.

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2. The adjustment of interest rate applicable to US$ deposit balance of legal entities at the effective time of this Decision shall be considered and agreed upon by credit institutions and the legal entities.

Article 3. The Director of the Administrative Department, Director of the Monetary Policy Department, Heads of units of the State Bank of Vietnam, General Managers of the State Banks branches in provinces and cities under the central Governments management; Chairperson of the Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR




Nguyen Dong Tien