Bank liquidity pressure has increased again.

SKĐS - The State Bank of Vietnam (SBV) injected 129.5 trillion VND through the Open Market Operations (OMO) channel in just the week from May 25 to 29 due to renewed liquidity pressure in the banking system.

According to Yuanta Vietnam's money market report for the week of May 25-29, liquidity pressure on the banking system is increasing again.

Specifically, the State Bank of Vietnam (SBV) resumed liquidity support after two consecutive weeks of net withdrawals. The SBV issued VND 129.5 trillion through the Open Market Operations (OMO) channel, while maturing amounts reached VND 98.7 trillion, resulting in a net injection of approximately VND 30.7 trillion into the system.

Bank liquidity pressure is rising again (illustrative image).

The volume of outstanding OMOs therefore increased to VND 332.3 trillion, up from VND 301.6 trillion in mid-May. The issuance structure was concentrated in 7-day (VND 57.2 trillion), 35-day (VND 42.5 trillion) and 56-day (VND 29.8 trillion) maturities.

In the interbank market, VND interest rates continued to remain high, despite a slight decrease towards the end of the week, due to increased demand for funds at the end of the month.

At the end of the week, overnight interest rates were 6.97%, 1 week 7.14%, 2 weeks 7.34%, 1 month 7.16%, 3 months 7.45%, 6 months 7.53%, and 9 months 8.5%.

The fact that interest rates did not decrease significantly after the State Bank of Vietnam increased the volume of outstanding OMOs to over 330 trillion VND indicates that short-term capital demand and liquidity defense needs of banks remain high.

In the last week of May, the State Bank of Vietnam issued a new mechanism to loosen the credit limit for real estate loans. Accordingly, outstanding loans for social housing and industrial zones will not be counted towards the real estate credit limit when controlling the growth rate of real estate credit.

This will create opportunities for stronger credit growth following recent tightening of real estate credit.

Yuanta Vietnam believes that the State Bank of Vietnam's move will put pressure on medium-term interest rates, given that deposit growth is still far behind credit growth. However, short-term deposit interest rates may remain stable after the State Bank of Vietnam's request for commercial banks to seriously implement interest rate reductions.

Source: https://suckhoedoisong.vn/ap-luc-thanh-khoan-ngan-hang-tang-tro-lai-169260602091942094.htm