State Bank requires stabilizing deposit interest rates, striving to reduce lending interest rates

ANTD.VN - On November 27, 2024, the State Bank of Vietnam issued Official Dispatch No. 9774/NHNN-CSTT on stabilizing deposit interest rates and striving to reduce lending interest rates.

Accordingly, the State Bank of Vietnam (SBV) requires credit institutions and foreign bank branches (FCs) to maintain stable and reasonable deposit interest rates, consistent with capital balance capacity, healthy credit expansion capacity and risk management capacity, contributing to stabilizing the monetary market and market interest rates.

Continue to resolutely and effectively implement solutions, simplify lending procedures, increase the application of information technology and digital transformation in lending processes... to strive to reduce lending interest rates to support businesses and people to promote production and business, increase access to bank credit capital according to the direction of the Government and the Prime Minister .

Continue to proactively announce average lending interest rates, the difference between average deposit and lending interest rates, lending interest rates for credit programs, credit packages and other types of lending interest rates (if any) on the electronic information page of credit institutions.

Actively and proactively communicate on mass media, guide customers and beneficiaries about the reduction of loan interest rates, publish information about interest rates; at the same time, provide specific information to customers about the loan interest rate reduction policy so that customers can grasp and access the credit institution's policy.

The State Bank requires banks to actively push capital into the economy.

For the State Bank branches in provinces and cities, the SBV requires drastic direction for credit institutions in the area to maintain stable deposit interest rates and implement measures to strive to reduce the lending interest rate level; proactively announce information on lending interest rates, credit programs with preferential lending interest rates (if any) to customers to support businesses and people to develop production and business.

Closely monitor interest rate developments in the area; direct and supervise credit institutions and credit institution branches in the area in implementing the policies of the Government and the State Bank on reducing lending interest rates to support businesses and people...

Earlier on the same day, the Prime Minister also issued a telegram on strengthening credit management solutions in 2024.

The Prime Minister requested the State Bank to preside over and coordinate with relevant agencies to implement a number of solutions such as: managing interest rates, exchange rates, credit growth, managing the open market, money supply, reducing lending interest rates... to supply capital to the economy at reasonable costs;

Disbursing and withdrawing money in a smooth, synchronous, reasonable manner, without jerkiness and creating liquidity pressure for the banking system, in order to support people and businesses to quickly overcome the consequences of storm No. 3, restore and develop production and business...

Continue to implement more effective and stronger solutions within authority to reduce lending interest rates.

The Prime Minister requested the State Bank to direct credit institutions to continue making more efforts to reduce lending interest rates through cost reduction, simplification of administrative procedures, increased application of information technology, digital transformation, etc.

Promote effective implementation and ensure publicity and transparency of preferential credit packages suitable to the characteristics of each credit institution for important areas, especially credit packages for social housing, workers' housing, credit packages for forestry products, fisheries, etc.; promote the role, enhance social responsibility and business ethics of credit institutions in sharing and supporting people and businesses when facing difficulties.

Continue to proactively review and summarize customers who are borrowing capital and are suffering losses due to the impact of storm No. 3 to promptly apply support measures and remove difficulties.

Strengthen, enhance inspection, examination, control and close supervision of credit granting and interest rate announcement of credit institutions, promptly and strictly handle violations according to regulations; have effective solutions to promptly handle bad debts of the credit institution system.

Source: https://www.anninhthudo.vn/ngan-hang-nha-nuoc-yeu-cau-on-dinh-lai-suat-tien-gui-phan-dau-giam-lai-suat-cho-vay-post596758.antd