THE STATE BANK OF THE SOCIALIST REPUBLIC OF VIETNAM

VIETNAM Independence - Freedom - Happiness

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No. 418/QD-NHNN Hanoi, March 16, 2020

DECISION
On the refinancing interest rate, rediscount interest rate, overnight lending
interest rate in inter-bank electronic payment and lending to offset the
capital shortage in the clearing of the State Bank of Vietnam for other
banks
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THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12

dated 16 June 2010;
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Pursuant to the Government's Decree No. 16/2017/ND-CP dated
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February 17, 2017 on defining the functions, tasks, powers and organizational

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structure of the State Bank of Vietnam;
At the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1. To prescribe the interest rates of the State Bank of Vietnam as

follows:
1. The refinancing interest rate: 5.0%/year.
2. The rediscount interest rate: 3.5%/year.
3. The overnight lending interest rate in inter-bank electronic payment
and lending to offset the capital shortage in the clearing of the State Bank of
Vietnam for other banks: 6.0%/year.
Article 2. This Decision takes effect on March 17, 2020 and replaces the
Decision No. 1870/QD-NHNN dated September 12, 2019 of the Governor of
the State Bank of Vietnam on the refinancing interest rate, rediscount interest
rate, overnight lending interest rate in inter-bank electronic payment and
lending to offset the capital shortage in the clearing of the State Bank of
Vietnam for other banks.
 Article 3. The Chief of the State Bank’s Office, Director of Monetary
Policy Department, Heads of units of the State Bank of Vietnam, General
Managers of State Bank's branches in provinces, cities under the Central
Government’s management; Chairpersons of Board of Directors, Board of
Members and General Directors (Directors) of foreign organizations shall be
responsible for the implementation of this Decision./.

FOR THE GOVERNOR

THE DEPUTY GOVERNOR

Nguyen Thi Hong

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