Deputy Prime Minister Le Minh Khai directs “hot” on real estate lending, credit room allocation

Speaking to clarify some contents at the interrogation session on the morning of June 9, Deputy Prime Minister Le Minh Khai said that during the questioning session yesterday afternoon and this morning, National Assembly deputies asked many good questions, covering areas related to the questionable content belonging to the state management functions and tasks of the State Bank, such as ensuring the safe operation of safe banking operations and credit institutions, the system of national payment as well as guarantee with value for money… The questions asked were explained and answered by Governor Nguyen Thi Hong relatively fully.

Deputy Prime Minister asked the State Bank to avoid administrative imposition of credit room (credit limit)

Regarding the administration of monetary policy, Deputy Prime Minister Le Minh Khai said that in implementing the Resolutions of the National Assembly, the Government and the Prime Minister have directed the State Bank to operate the monetary policy in a flexible manner. activities, closely coordinating with policies and other solutions to contribute to stabilizing the macro-economy and controlling inflation in the context of the world’s high rise. The operating policies in the past time did not have much influence on the increase in the inflation target, but mainly due to the increase in commodity prices.

For example, with 13 increases in petrol prices in the first 5 months of the year, the price increased by 7,300-7,900 VND per liter, or 59.49% in 5 months. This level impacted the overall CPI to increase by 1.8 percentage points.

The Deputy Prime Minister said that in the coming time, the Government will continue to direct the State Bank to grow positively, with reasonable interest rates, exchange rates and stable foreign exchange market; Foreign exchange reserves consolidated for support. People, businesses, improve the resilience of the economy.

Regarding the strengthening of coordination among ministries, branches and related agencies in dealing with bad debts, supervision of credit institutions dealing with weak banks so far, on the basis of opinions of the Ministry of Government The Government will direct the State Bank to urgently develop a specific plan approved by competent authorities for implementation in the near future.

Regarding the credit room, the Deputy Prime Minister said that he would ask the State Bank to study conditions and standards to avoid administrative imposition.

Regarding credit control in the fields of securities, bonds, real estate, implementation of the Resolutions of the National Assembly and the Government’s Resolutions on the socio-economic development plan in 2022, the Government, the Prime Minister The Government has directed the State Bank to operate a credit policy to fully and promptly meet production and business activities, directing credit to priority areas with strict control over potential sectors. For projects and loan schemes in the real estate sector that are feasible, have good liquidity, and customers are able to repay loans in full and on time, they shall continue to provide credit in accordance with regulations.

Approved the Project “Restructuring the system of credit institutions associated with bad debt settlement in the period of 2021 – 2025”

The Deputy Prime Minister also emphasized the weak restructuring of banks.

Deputy Prime Minister Le Minh Khai stated that over the past time, the Government and the Prime Minister have directed the State Bank and relevant agencies to drastically implement solutions to restructure the system of credit institutions and credit institutions. important results have been achieved, basically, the legal framework continues to be perfected.

The credit system has made positive changes in terms of scale, financial capacity, credit quality and operational efficiency. Promoting the role of providing credit to the economy, making an important contribution to mobilizing resources to promote socio-economic development, especially priority sectors and fields for production and business. contributing to limit the credit situation being recognized and appreciated by international rating agencies and organizations.

In order to continue to improve the quality, operational efficiency and safety of credit institutions, Deputy Prime Minister Le Minh Khai said that after reporting to the Politburo, the Prime Minister issued Decision 689/QD-TTg Approving the Project “Restructuring the system of credit institutions associated with bad debt settlement for the period 2021 – 2025”, including a number of provisions such as: Completing the legal framework in terms of currency, banking activities, restructuring and dealing with bad debts, improving financial capacity, competitiveness, credit quality, efficiency of governance and management, transparency within bank operations…

At the same time, promote the application of information technology and digital transformation in banking activities. Continue to take measures to strengthen financial capacity and safety of banking operations. Implement the trend towards reaching the development level of the group of 4 leading countries in ASEAN by 2025. Accelerate the handling of bad debts and improve credit quality for credit institutions. Consolidate and perfect the model and improve the financial capacity of Vietnam Asset Management Company.