Decision 190/1999/QD-NHNN1

DECISION No. 190/1999/QD-NHNN1 OF MAY 29, 1999 READJUSTING THE STATE BANK’S CAPITAL REALLOCATION INTEREST RATES APPLICABLE TO CREDIT INSTITUTIONS

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law No. 01/1997/QH10 of December 12, 1997 on the State Bank;

Pursuant to the Government’s Decree No. 15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries, the ministerial-level agencies;

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

DECIDES:

Article 1.- To readjust the State Bank’s capital reallocation interest rate applicable to credit institutions to 0.85% /month.

Article 2.- The debit balance of loans provided as reallocated capital by the end of May 31, 1999 of credit institutions (including the debit balance of the commercial banks designated to provide loans for the purchase of paddy for temporarily reserve in 1999) at the State Bank shall be entitled to the interest rates prescribed in Article 1 above as from June 1st, 1999.

Article 3.- This Decision takes effect from June 1st, 1999 and replaces the State Bank Governor’s Decision No. 41/1999/QD-NHNN1 of February 1st, 1999 readjusting the State Bank’s capital reallocation interest rates applicable to credit institutions and Decision No. 63/1999/QD-NHNN1 of February 27, 1999 on the State Bank’s capital reallocation interest rate applicable to commercial banks for provision of loans for the purchase of paddy to be temporarily reserved for export in 1999.

Article 4.- The Director of the State Bank’s Office, the heads of units attached to the State Bank of Vietnam, the directors of the provincial/municipal State Bank branches, the chairpersons of the managing boards and the general directors (or directors) of the credit institutions shall have to implement this Decision.

For the State Bank Governor

Deputy Governor