DECISION

ON THE INTEREST RATE OF US$ DEMAND DEPOSITS OF CREDIT INSTITUTIONS, THE STATE TREASURY AT THE STATE BANK

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam and the Law on the Credit Institutions dated 12 December, 1997;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November, 2002 of the Government on the function, assignment, authority and organization structure of the ministries and ministry-level agencies;
- Upon the proposal of the Director of Banking Operation Department and the Director of the Monetary Policy Department,

DECIDES

Article 1. The interest rate of US$ demand deposits of credit institutions, the State Treasury at the State Bank, shall be 1% per annum.

Article 2. This Decision shall be effective from 1 July. 2003 and replace the Decision No. 616/2003/QD-NHNN dated 16 June, 2003 of the Governor of the State Bank on the interest rate of US$ demand deposits of credit institutions, the State Treasury at the State Bank.

Article 3. The Director of the Administrative Department, the Director of the Banking Operation Department, the Director of the Monetary Policy Department, the Director of the Finance & Accounting Department and Heads of related units of the State Bank of Vietnam, General Managers of the State Banks branches in provinces and cities, Chairpersons of the Board of Directors and General Directors (Directors) of credit institutions, General Director of the State Treasury shall be responsible for the implementation of this Decision.

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FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Phung Khac Ke