Accordingly, the Governor of the State Bank of Vietnam requested units under the Central State Bank to continue to operate monetary policy proactively, flexibly, promptly, effectively, in a synchronous, harmonious and close coordination with fiscal policy and other macroeconomic policies to contribute to supporting economic growth, stabilizing the macro economy, stabilizing the money and foreign exchange markets and the banking system. In particular, it is necessary to proactively study the impacts and influences of storm No. 3 on the operation of monetary policy, especially credit limits, capital needs and liquidity for the economy in general and commercial banks in particular, to have appropriate management solutions.
Timely grasp and assess the situation and level of impact of customers borrowing capital due to storms and floods to propose appropriate monetary and credit policies and solutions, promptly contributing positively and effectively to support customers in overcoming difficulties; continue to advise the Governor of the State Bank of Vietnam to direct credit institutions to implement solutions: restructuring debt repayment terms, considering exemption and reduction of loan interest for customers, developing new credit programs with appropriate preferential interest rates, continuing to provide new loans to customers to restore production and business after the storm according to current regulations.
In particular, the Governor of the State Bank of Vietnam also requested units under the Central State Bank to urgently submit to the Prime Minister for promulgation a Decision on asset classification, risk provisioning level, risk provisioning method and the use of risk provisioning to handle risks to support customers facing difficulties and losses due to the impact of storm No. 3; along with the development and promulgation of a Circular guiding credit institutions to restructure debt repayment terms for customers facing difficulties in debt repayment due to the impact of storm No. 3.
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Assess the damage situation of loan customers to promptly have support policies. |
For the State Bank branches in provinces and cities, the Governor requested these units to proactively coordinate with relevant departments, branches and agencies to grasp the level of impact of storms and floods on borrowers, assess the loan losses of people and businesses in the area to advise the People's Committees of provinces and cities to effectively implement support to remove difficulties for businesses and people; direct credit institutions in the area to actively implement solutions to support removing difficulties for borrowers affected by storm No. 3 according to regulations. Report damage data to the State Bank of Vietnam (through the Department of Credit for Economic Sectors) before September 25, 2025 and regularly update this data...
In addition, the Governor of the State Bank of Vietnam also requested credit institutions to urgently direct branches and transaction offices in 26 provinces and cities affected by the storm to promptly deploy with the highest responsibility and urgency solutions to support difficulties for customers affected by storm No. 3; Restructure debt repayment terms, exempt and reduce loan interest for customers according to current legal regulations; Implement policies to restructure debt repayment terms, maintain debt groups, freeze debts, and provide new loans to customers subject to the provisions of Decree No. 55/2015/ND-CP, Decree 116/2018/ND-CP dated September 7, 2018 and guiding documents of the State Bank on credit policies for rural agricultural development...
The Vietnam Bank for Social Policies shall handle risky debts for borrowers affected by storm No. 3 in accordance with the provisions of Decision No. 50/2010/QD-TTg dated July 28, 2010 and Decision No. 08/2021/QD-TTg dated May 11, 2021 of the Prime Minister.
Associations in the banking industry continue to promote their role in connecting credit institutions, creating consensus and unity among member banks in implementing solutions to restructure debt repayment terms and provide new loans to ease difficulties for customers affected by storm No. 3.
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Many credit institutions mobilized their staff and workers to donate and support people affected by storms. |
Regarding social security work, the Governor also requested units to mobilize cadres, civil servants, public employees, and workers to respond to the call of the Presidium of the Central Committee of the Vietnam Fatherland Front and the Vietnam General Confederation of Labor to support at least 1 day's salary/income to support people affected by storm No. 3. Grasp and synthesize the situation of cadres, civil servants, public employees, and workers in the banking sector affected and damaged by storm No. 3 to have appropriate support measures. Mobilize credit institutions and promptly and fully synthesize the situation of credit institutions supporting people affected by storm No. 3.
Source: https://nhandan.vn/day-manh-cac-giai-phap-ho-tro-nguoi-dan-doanh-nghiep-gap-kho-khan-do-anh-huong-cua-bao-yagi-post833286.html
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