Directive No. 06/2007/CT-NHNN requires credit institutions and units under the State Bank of Vietnam to implement certain measures to ensure payment capacity, control total means of payment, contribute to price stability, and promote economic growth. This directive applies to credit institutions and units under the State Bank of Vietnam.
적용 범위
Credit institutions and units under the State Bank of Vietnam
핵심 사항
- Credit institutions → review the implementation of business targets, combine with assessments and forecasts of socio-economic development trends to implement solutions ensuring safe and effective business operations.
- Credit institutions → strengthen management of available capital, proactively balance sources and uses of funds, ensure payment safety to fully meet customer payment needs during the end-of-year period.
- Credit institutions → strictly control fluctuations in business items; balance capital for participation in open market operations and rigorously implement monetary, credit, and foreign exchange solutions as required by the State Bank of Vietnam.
- Credit institutions → rigorously implement solutions stipulated in Directive No. 03/2007/CT-NHNN to control inflation and promote economic growth; ensure loan and discount balances at below 3% of total credit outstanding.
- Credit institutions → timely and accurately report information, reports, and telegrams as prescribed.
🌐 이 문서의 사회적 영향
- Positive impact: Helps control inflation, stabilize market prices, and promote economic growth.
- Negative impact: May exert pressure on financial activities of credit institutions due to strict capital and payment management requirements.
❓ 자주 묻는 질문
What must credit institutions do according to this Directive?
Credit institutions need to review their business situation, strengthen management of available capital, strictly control business items, and rigorously implement monetary, credit, and foreign exchange solutions.
What is the duration of effect of this Directive?
This Directive takes effect fifteen days from the date of publication in the Official Gazette.
What repayment capability ratios must credit institutions maintain?
Credit institutions must maintain safety ratios, particularly repayment capability ratios as prescribed by the State Bank.
What measures must credit institutions take to control inflation?
Credit institutions must rigorously implement solutions stipulated in Directive No. 03/2007/CT-NHNN regarding controlling the scale and quality of credit and loans for investment and securities trading.
How must credit institutions report information?
Credit institutions must timely and accurately report information, reports, and telegrams as prescribed by the State Bank.
전문
DIRECTIVE
On ensuring payment capacity and controlling total means of payment
_______________________________
In recent months, implementing the Prime Minister's Directive No. 18/2007/CT-TTg dated August 1, 2007 on urgent measures to curb market price increases and other guiding documents for the implementation of this Directive; the State Bank of Vietnam has actively and flexibly managed monetary policy, credit, and exchange rates to withdraw money from circulation, control the rate of credit growth and total means of payment, preventing excessive appreciation or depreciation of the Vietnamese currency; credit organizations have operated effectively, supporting and implementing monetary, credit, and foreign exchange solutions of the State Bank of Vietnam. However, inflation has become complex, the available capital of credit organizations tends to decrease, making it difficult to control total means of payment.
Implementing Directive No. 23/2007/CT-TTg dated October 31, 2007 of the Prime Minister on strengthening the implementation of price management measures and market stabilization in the last months of 2007 and during the Lunar New Year 2008, and to ensure payment capacity and control total means of payment, contributing to stabilizing prices and promoting economic growth in the last months of 2007 and the beginning of 2008; the Governor of the State Bank requests credit organizations and units under the State Bank of Vietnam to implement the following measures:
1. For credit organizations:
a) Review the implementation of business targets; combine with assessing and forecasting the situation of economic and social development, financial and monetary markets both domestically and internationally to implement measures to ensure safe and effective business operations.
b) Strengthen the management of available capital, proactively balance between sources and uses of capital, ensuring payment safety to fully meet customers' payment needs, especially salary and bonus payments at year-end; maintain safety ratios, particularly the liquidity ratio as stipulated in the Decision No. 457/2005/QD-NHNN dated April 19, 2005 of the Governor of the State Bank of Vietnam and Decision No. 03/2007/QD-NHNN dated January 19, 2007 of the Governor of the State Bank of Vietnam amending and supplementing certain provisions of the aforementioned Decision.
c) Closely monitor fluctuations in business items; balance capital to participate in open market operations and strictly implement monetary, credit, and foreign exchange measures related to the requirements of the State Bank of Vietnam.
d) Strictly and effectively implement measures prescribed in Directive No. 03/2007/CT-NHNN dated May 28, 2007 of the Governor of the State Bank of Vietnam on controlling the scale and quality of credit and lending for securities investment to control inflation, promote economic growth, and related guiding documents; closely control credit growth in line with actual capital mobilization and credit quality control capabilities; ensure that the outstanding loan balance for securities investment and discounting negotiable instruments does not exceed 3% of total credit outstanding; establishment of branches and diversification of business activities must comply with legal regulations and guidance of the State Bank of Vietnam.
đ) Timely and accurately fulfill reporting and statistical information requirements as stipulated in Decision No. 477/2004/QD-NHNN dated April 28, 2004 of the Governor of the State Bank of Vietnam on the Statistical Reporting System applicable to units under the State Bank of Vietnam and credit organizations, Decision No. 1747/2005/QD-NHNN dated December 1, 2005 on amending and supplementing certain provisions of the Statistical Reporting System, Directive No. 02/2007/CT-NHNN dated March 20, 2007 on enhancing measures to improve the quality of statistical reports in the banking sector, and other relevant documents.
2. For units under the State Bank of Vietnam:
a) For units at the headquarters of the State Bank of Vietnam, according to their functions and tasks, advise the Governor of the State Bank of Vietnam to implement measures:
- Actively and flexibly manage monetary policy, credit, and exchange rates according to market principles; continue to withdraw money from circulation, restructure short-term central bank bills sold, purchase foreign currencies at appropriate levels to stabilize interest rates and exchange rates, increase state foreign exchange reserves, control the rate of total means of payment growth at reasonable levels, and prevent excessive appreciation or depreciation of the Vietnamese currency.
- Strengthen supervision over compliance with legal regulations in credit organizations' business activities; focus on supervising lending and discounting negotiable instruments for securities investment as per Directive No. 03/2007/CT-NHNN; apply appropriate measures to handle violations of legal regulations.
- Efficiently monitor and manage inflows and outflows of foreign direct investment capital, loans, and discounting negotiable instruments for securities investment from credit organizations; coordinate with functional units of the Ministry of Finance to develop and implement mechanisms for managing, supervising, and exchanging information on the securities market.
b) For provincial branches of the State Bank of Vietnam: Continuously monitor, inspect, supervise, and audit the business activities of credit organizations within their province; proactively report to the Governor of the State Bank of Vietnam any difficulties and issues regarding banking activities within their province and propose solutions.
3. Implementation:
a) This Directive shall take effect fifteen days after its publication in the Official Gazette.
b) The Director of the Office, the Head of the Monetary Policy Department, and the Heads of units under the State Bank; the Governors of the State Bank branches in provinces and centrally governed cities; and the Boards of Directors and General Managers (Directors) of credit organizations are responsible for implementing this Directive./.
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