On August 06, 2020, the State Bank of Vietnam issues the Decision No. 1349/QD-NHNN on interest rate for required reserves deposits and deposits in excess of required reserves of credit institutions, foreign bank branches at the State Bank of Vietnam.
Specifically, the interest rates applicable to required reserves deposits and deposits in excess of required reserves of credit institutions, foreign bank branches at the State Bank of Vietnam are prescribed as follows:
Firstly, for required reserves deposits in Vietnam dong: 0.5% per annum (1.0% per annum as in the previous regulation).
Secondly, for required reserves deposits in foreign currencies: 0% per annum.
Thirdly, for deposits in excess of required reserves in Vietnam dong: 0% per annum.
Fourthly, for deposits in excess of required reserves in foreign currencies: 0.05% per annum.
This Decision takes effect on August 06, 2020.
Source: luatvietnam