Striving to lower lending rates, prevent manipulation in credit institutions

National Assembly Chairwoman Vuong Dinh Hue delivered a speech at the end of the third group of questions about banking under the responsibility of Governor Nguyen Thi Hong this morning (June 9).

The National Assembly Chairman emphasized, on the basis of the achieved results, shortcomings and limitations in the past time, to develop a healthy and sustainable banking industry, to meet the development needs of the country in the near future. Next, National Assembly Chairwoman Vuong Dinh Hue suggested that the Government, the Governor of the State Bank, ministers, and industry leaders pay attention to implementing a number of solutions.

Continue to strive to reduce costs and lower loan interest rates

Firstly, continue to closely coordinate fiscal policy and other macroeconomic policies in order to control inflation, stabilize the macro-economy, support economic recovery and development, and timely respond to changes in the economy. transform domestic and international markets.

Second, continue to drastically implement Resolution 43/2022/QH15 of the National Assembly, Resolution 11/NQ-CP on monetary and fiscal policies to support economic recovery and development, Decree 31/2022 /ND-CP dated May 20, 2022 of the Government on interest rate support from the state budget for loans of enterprises, especially small and medium enterprises, cooperatives and business households.

At the same time, continue to strive to reduce costs and lower lending interest rates for the economy as in Resolution 43/2022/QH15 of the National Assembly.

Third, review, amend and supplement legal documents in order to perfect the legal corridor on currency, foreign exchange, gold and banking operations, ensuring the safety of the banking system. Credit institutions such as credit institutions, Law on Deposit Insurance, Law on State Bank, Law on prevention and combat of money laundering…

Fourth, organize the drastic implementation of the Project on restructuring credit institutions associated with bad debt settlement in the 2021-2025 period, developing the credit institution system in the direction that domestic credit institutions play the role of The main role, healthy operation, quality, efficiency, publicity and transparency, meeting the standards of safety and banking activities and approaching international practices, striving to reach the development level. of the group of leading countries in the ASEAN region by 2025.

Fifth, focus on developing, approving and implementing the Scheme on restructuring weak banks, striving by the end of 2025 to basically deal with weak banks and credit institutions, and improve their capacity. finance of credit institutions. Interested in providing more charter capital for the State Commercial Bank and the Bank with a controlling stake in the State.

Prevent cross-ownership, manipulation in credit institutions, increase capital for state-owned banks

National Assembly Chairwoman Vuong Dinh Hue also suggested continuing to prevent cross-ownership and manipulative use in credit institutions.

At the same time, strengthen the capacity and effectiveness of inspection and supervision of activities of credit institutions, specialized inspection for high-risk potential areas.

The National Assembly Chairwoman requested the State Bank to continue researching digital applications and promoting the application of Fintech and financial technology in this field.

The National Assembly Chairman also requested the Government, the State Bank and the Governor of the State Bank to continue promoting the implementation of Resolution 42/2017/QH14 of the National Assembly on dealing with bad debts, and take drastic measures. measures to recover debts, use provisions to deal with risks, improve credit quality, prevent and minimize new bad debts arising by 2025, bringing bad debts to the whole system including sold bad debts for VAMC and down to 3%.

Regarding credit growth, the President of the National Assembly proposed the State Bank and the Governor of the State Bank to develop criteria for analyzing credit growth indicators for each credit institution, ensuring consistency and publicity. , transparently, in accordance with the law on the basis of the operation situation, financial capacity, management, administration and healthy credit expansion ability of each credit institution. Limited research towards eliminating the current administrative credit line management.

In addition, there are plans and solutions to expand the scale and rapidly increase the proportion of high value-added banking services, non-credit, and promote non-cash payments.

Strengthening the stock and real estate markets

National Assembly Chairwoman Vuong Dinh Hue requested the State Bank, the Governor of the State Bank and the ministers to continue to develop the financial market in general and the corporate bond market in particular in a healthy manner.

Closely monitor the growth rate of outstanding loans and credit quality for potential risk areas, especially investment in real estate, securities and investment in corporate bonds.

At the same time, ensuring capital supply for the stock and real estate markets to continue to develop healthily and sustainably, drastically implementing a comprehensive financial strategy, strongly developing microfinance institutions, directing credit institutions concentrate capital sources, promptly meet the demand for loan capital.

Promoting the application of science and technology, developing online payment and lending services, simplifying loan processes and procedures, creating conditions for people and businesses to easily access key credit sources. knowledge with interest rates to serve production and business, legitimate consumer life needs, contribute to limiting black credit, promoting the development of non-cash payment.

The National Assembly Chairwoman proposed to strengthen the management and supervision of e-banking service provision and provision, and coordinate with law enforcement agencies to detect and promptly handle related violations. .

In addition, the State Bank needs to coordinate with the Ministry of Public Security and relevant authorities to expand and allow banks to connect, exploit information, and national database on population, exploit data from the State Bank of Vietnam. information on citizen ID cards with chips, limiting fraudulent acts of impersonation, forging identity documents when performing e-banking transactions. Fight to effectively prevent high-tech crimes in the banking sector, the phenomenon of buying and selling bank accounts in cyberspace.