I- Restaurant
Vïì ăiïìu hađnh laôi suíịt
Ăïí traânh taâc ăöơng khöng thuíơn lúơi ăöịi vúâi tùng trûúêng kinh tïị, NHNN giûô nguýn caâc mûâc laôi suíịt do NHNN cöng böị nhû laôi suíịt cú baên lađ 8,25%/nùm, laôi suíịt taâi cíịp vöịn lađ 6,5%/nùm, laôi suíịt chiïịt khíịu lađ 4,5%/nùm, laôi suíịt qua ăïm, laôi suíịt tiïìn gûêi taơi NHNN nhùìm öín ắnh laôi suíịt thõ trûúđng. Ăöịi vúâi laôi
12 months to under 24 months increased from 2% to 4%.
Though the SBV's adjustments of reserve requirement ratios for credit institution might pick up fund mobilization costs, but only
slightly, as these adjustment were made when credit insitutions observed surplus liquidity, then their non- interest bearing excess reserves deposited at the SBV were converted to interest bearing reserve portion. Moreover, due to sub- stantially large interest rate difference among credit institutions, they reduced costs to compete in borrowing and lending without changes in interest rates. Therefore, after adjustments of reserve requirement ratios, there were little fluc- tuations on mobilizing and lending interest rate levels of credit institutions.
* Refinancing and rediscount
Generally, credit institutions as a whole contin- ued to report surplus liquidity. Meanwhile, inter- bank market activities had not yet been smooth- ly operated, therefore several commercial banks suffering from temporary shortage of liquidity got access to the SBV'refinancing channels (via valuable paper discount and mortage) in order to ensure their solvency.
As for valuable paper mortage, since the begin- ning of 2007, the SBV limited refinancing trans- actions through this facility. Additionally, as cred- it institutions continued to report liquidity excess, very few credit institutions got access to this channel.
* Interest rate management
In order to avoid adverse impacts on economic growth, the SBV maintained interest rates including base interest rate of 8.25%/year, refi- nancing interest rate of 6.5%/year, discount interest rate of 4.5%/year as well as overnight rate, and deposit rate at the SBV to stabilize
suíịt tiïìn gûêi USD cuêa phaâp nhín taơi TCTD kïí tûđ ngađy 01/01/2007, NHNN boê quy ắnh tríìn laôi suíịt tiïìn gûêi bùìng USD ăöịi vúâi phaâp nhín, theo ăoâ, caâc TCTD ặúơc pheâp íịn ắnh laôi suíịt tiïìn gûêi bùìng USD cuêa phaâp nhín theo cú chïị thoaê thuíơn.
Vúâi cú chïị ăiïìu hađnh laôi suíịt nhû nïu trïn, laôi suíịt trïn thõ trûúđng tiïìn tïơ nùm 2007 tûúng ăöịi öín ắnh. Laôi suíịt trïn thõ trûúđng tiïìn tïơ liïn ngín hađng biïịn ăöơng trong khoaêng dûúâi 15%/nùm. Laôi suíịt huy ăöơng cuêa caâc NHTM biïịn ăöơng trong khoaêng dûúâi 10%/nùm.