Government requests report on SCB handling plan in September

SGGPO 09/13/2023 21:01

According to the recently issued Resolution, the Government requires the State Bank of Vietnam (SBV) to focus on handling weak banks, including reporting to competent authorities on the plan to handle SCB Bank in September 2023, without further delay.

SBV must report on SCB's handling plan in September 2023

In addition, the Government also requested the State Bank to preside over and coordinate with agencies and localities to closely monitor the situation, operate monetary policy proactively, flexibly, promptly and effectively, closely coordinate and synchronize with fiscal policy and other macroeconomic policies to further prioritize promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy and social security.

At the same time, manage credit growth to meet capital needs for the economy, direct credit to production, business, and priority sectors; promptly complete credit regulations, policies, and lending conditions with more open, convenient, feasible, and reasonable procedures, greatly increasing people's and businesses' access to credit and capital absorption of the economy, contributing to limiting "black credit". Closely monitor the bad debt situation, ensure the safety of the credit institution system. Continue to strive to reduce lending interest rates; monitor the implementation of Circular No. 02/2023/TT-NHNN, Circular No. 03/2023/TT-NHNN to promptly guide and remove arising problems (if any).

The Government's Resolution also clearly states that the State Bank must have solutions to continue promoting the disbursement of credit packages of VND40,000 billion to support interest rates, VND120,000 billion for social housing loans, and VND15,000 billion for the forestry and fishery sectors.

In addition, it is necessary to urgently review and adjust the risk coefficients for different real estate segments according to the authority; review regulations related to lending and investing in corporate bonds to be consistent with the corporate bond market development policy according to Resolution No. 33/2023 of the Government.

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