SBV issues new decision on interest rates of required reserve deposits

At Vietcombank's headquarters in Hanoi. (Photo: VNA)

Hanoi (VNA) – The State Bank of Vietnam (SBV) hasissued a Decision 1349/QD-NHNN on interest rates applicable to reserve requirement deposits and excess reserves of credit institutions andforeign banks’ branches in the SBV.

It will take effect on September 1 to replace the centralbank’s Decision 1349/QD-NHNN dated August 6, 2020.

Under the new decision, the interest rates of reserve requirement deposits in Vietnam Dong and in foreign currencies will be keptunchanged at 0.5 percent and zero percent per annum, respectively.

The interest rate for excess reserves in Vietnam Dong will also remain at zero percent per annum, while thatin foreign currencies will be slashed to zero percent per annum, from 0.05percent per annum as prescribed in the previous decision./.

VNA