Control the capital of the real estate market for fear of losing liquidity
Answering delegate Le Thanh Van’s question about credit real estate In this afternoon session (June 8), Governor Nguyen Thi Hong said that the market includes many subjects and channels. The bank’s concern is risk, capital loss, credit risk, and more importantly liquidity risk due to the nature of the real estate loan being long-term, large capital, while the deposit is short-term. .
“State bank There is pressure in risk control, lending belongs to banks and customers but must ensure system safety“, Ms. Hong confirmed.
About the price increase, blow market price Hong said that there are regulations directing commercial banks when making loans to evaluate collateral. Credit institutions that provide collateral for loans in areas where real estate prices are high in bubbles must carefully control risks.
Regarding the need to buy a house to live in and repair, according to the Governor, there is VND 2.2 million billion in real estate debt, 65% for housing needs and home repair and consumption. With the need to buy a house with low income, there is also a policy and currently the 2% interest rate support package has also implemented loans for objects such as buying social housing…
Also in the question-and-answer session this afternoon, responding to inflation pressure, Ms. Hong said that the increase of 2.25% was mainly due to the impact of price factors, not to mention the impact of the economic recovery support package. Credit also increased, so the State Bank will control the currency flexibly, effectively, and change economy macro to provide management solutions, control CPI.
In order to improve credit efficiency and handle bad debts, Ms. Hong said that it is required to strictly comply with lending regulations, ensure eligibility, and set up provisions for risky debts. In case enterprises face difficulties, the system will restructure, create conditions for enterprises to continue borrowing, as well as credit institutions to proactively set up provisions, in case there are solutions to deal with bad debts.
With the cases of debt collection and threats from financial companies, Ms. Hong said that there was a review and it was necessary to amend the legal documents. Currently, the Circular of the State Bank of Vietnam on lending to financial companies has been revised, the company is not allowed to collect debt under threatening measures, the time for debt collection is from 9am to 9pm.
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