VietnameseOfficial Dispatch No. 10259/NHNN-CSTT dated November 20, 2008 of the State Bank of Vietnam implementing measures on credit activity and interest rate
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Official Dispatch No. 10259/NHNN-CSTT dated November 20, 2008 of the State Bank of Vietnam implementing measures on credit activity and interest rate
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 10259/NHNN-CSTT | Signer: | Tran Minh Tuan |
| Type: | Official Dispatch | Expiry date: | Updating |
| Issuing date: | 20/11/2008 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking , Policy |
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THE STATE BANK OF VIETNAM --------- | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness -------------- |
No. 10259/NHNN-CSTT Re: implementing measures on credit activity and interest rate | Hanoi, November 20, 2008 |
To: Credit institutions
With a view to implementing guidelines of the Government on inflation restraint, taking initiative in preventing negative effects of financial crisis and risk of the world economic regression, ensuring the macro economic stability, maintaining reasonable and sustainable growth and managing market interest rates under decreasing trend on the basis of macro economic, monetary conditions and forecasts; State Bank of Vietnam would like to request credit institutions to carry out some of following measures:
1. To adjust business interest rates in Vietnam Dong in line with provisions of the State Bank of Vietnam and ensuring the ability of capital mobilization, safe and effective business operation.
2. To gather credit capital for production, agriculture and rural areas, especially for the production of rice in Winter- Spring rice crop by farmers' households, export, import of essential commodities, small and medium sized enterprises, projects of production, business investment and projects of real estates investment which are feasible, effective and capable of making debt repayment in the due course.
3. To take initiative in implementing measures for ensuring prudence and, efficiency of business activity, of which, measures of preventing risks which may occur due to impacts of financial crisis and signals of global economic regression should be paid attention, to correctly comply with provisions on prudential ratios in business activity.
Any difficulty, query that may arise during the implementation process should be timely reported by credit institutions to State Bank of Vietnam for consideration and solution.
FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM DEPUTY GOVERNOR Tran Minh Tuan |
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