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On April 14th, State’s Bank of Vietnam has approved Circular No. 12/2010/TT-NHNN, guiding VND loans with negotiable rates which are now applicable to short term loans. Credit institutions are, therefore, required to post their reasonable rates of VND loans on the basis of demands and liabilities .

The rates are to be adjusted to be suitable with the fluctuation rates for VND loans as well as with objectives and monetary measures run by the State’s Bank.

Credit institutions are required to report their rates in accordance with demands and their regulations on interest rates.

This circular enables all loans in banking system to be negotiable with interest rates for individual bank to deal with and create a transparent monetary market.

Reported by Dam Thanh – Translated by Vi Bao