No other country has as many commercial banks as ours

On the afternoon of June 5, speaking at a panel discussion session on the draft Law on Credit Institutions (amended), delegate Duong Ngoc Hai (HCMC) said that currently, the credit and banking market is still active. inadequate, unhealthy, cross-ownership, illegal.

Leaked information causes huge consequences

According to Mr. Hai, in the past time, the corporate bond market has been too volatile, the stock market fluctuated, while commercial banks have not played the role of an important capital channel. He said that this amendment of the law will overcome the shortcomings, promote the development of a stable banking market, and improve competitiveness.

Ho Chi Minh City delegation also proposed to add a number of prohibited acts, causing anger in public opinion in the past time, such as illegal bond brokerage; forcing customers to buy insurance to qualify for loans… This draft also proposes measures to intervene when credit institutions are subject to mass withdrawals. Delegate Hai affirmed that this is necessary to support credit institutions and ensure system safety.

However, he said that the current measures mainly come from the State Bank, but have not seen the self-made solutions from within the bank with mass withdrawals.

Even in the draft, there are no measures to deal with credit institutions for this problem. "If this kind of regulation will make credit institutions stagnate, think that if this situation is encountered, the State Bank will come to the rescue."Mr. Hai said.

With the same concern, delegate Pham Duc An, Chairman of Agribank's Member Council Pham Duc An (delegation from Hanoi) was concerned about the State Bank's intervention when mass withdrawals occurred. He said that it is necessary to have an early solution to prevent this phenomenon, if this phenomenon has already happened, then minimize the intervention from the State Bank.

“Every leak of information immediately causes huge consequences. Depositors only listen to the bus sound and go to withdraw money in bulk”, Mr. India stated.

Take into account the roadmap to reduce commercial banks

According to Procurator General of the Supreme People's Procuracy Le Minh Tri (a delegate from the Ho Chi Minh City delegation), in order to prevent and handle bad debts and collateral, it is necessary to take precautions in advance to limit, if it happens, it will be handled slowly. According to Mr. Tri, no other country has had as many commercial banks as ours. If it cannot be controlled, a roadmap to reduce commercial banks must be taken into account.

On the other hand, Mr. Tri also said that if there are too many commercial banks, there will be unfair competition. Therefore, it is necessary to reduce the number of commercial banks if it does not have a great effect on socio-economic development.

“The responsibility of the bank must be considered, as NE Duong Ngoc Hai said, if it doesn't happen, people will carry the money. It is recommended to strengthen inspection and examination to ensure the proper lending function of a credit institution.”, Mr. Tri suggested.

Mr. Le Minh Tri also cited Decision 986 of the Prime Minister, saying very specifically: It is necessary to review, study, amend and supplement regulations on preventing cross-ownership, preventing the right of governance and management of major shareholders to manipulate the activities of credit institutions, limit the domination and acquisition...

According to Mr. Tri, this is the right requirement and this law must require state management agencies, first of all, the State Bank to propose feasible solutions.

(Source: Tien Phong)