SBV Governor instructs the unit to regulate interest rate reduction
Accordingly, the objectives and main tasks of the banking industry include: Implementation of CSTT initiative, flexibility and caution in order to stabilize the currency market to ensure liquidity of the banking system and support liquidity support for the economy to control growth of total liquidity of about 20% and 25% of credit, interest rate and exchange rate at a reasonable level, perform tasks, the focus of the solution banking industry in 2010 and the action plan by Resolution dated 15.01.2010 and Resolution 03/NQ-CP 18/NQ-CP on 06/4/2010 by the Government to ensure macroeconomic stability tissue, not too high inflation and achieve economic growth of about 6.5% in 2010.
With the goals and tasks, instructs the State Bank headquarters units, functions and duties of his, to advise the governor to achieve tasks in 2010 and what measures CSTT administrative tools under market principles, to ensure conformity with the development objectives and actual conditions of financial markets - currency and economy to regulate the market interest rate decreases to facilitate business development; Executive foreign exchange market and exchange rate flexibility in relation to interest rates, inflation, trade balance and other investment channels in order to reduce the deficit, improve balance of payments International, to create conditions for increased foreign exchange reserves continue to perfect the legal framework and management of foreign exchange market foreign exchange continue to modify and improve the institutions of monetary, credit and operational banking innovation and quality inspection activities, monitoring activities of financial institutions and plans, roadmaps and implement feasible measures to promote non-cash payment in the economy, etc.
For SB branch provinces and cities directly under the Central Government, the Governor requested timely implementation of policies, mechanisms, currency, credit and banking activities, frequent monitoring, inspection and supervision and inspection activities of financial institutions in the province; propose committee, local government and central bank governor on measures to manage and operate network CI, revised mechanism and policy suitable conditions reality. Also, the implementation of appropriate measures for the CI concentration of capital for the development of local economy, especially demand-production capital cost of the business sector and rural agriculture, export , small and medium enterprises.
Governor requires financial institutions to build and implement a business plan in 2010 on the basis of close and make CSTT under the direction of government and central bank; expand credit, improve quality and efficiency of credit , coupled with strong shifting credit structure. On the foreign currency loan, the State Bank instructs the foreign currency lending by financial institutions focus of foreign currency loans for essential items for which domestic production can not be produced, capacity and quality of risk management for business operations; focus on developing its branch network in areas of agriculture, rural business objectives associated with economic development for local publicly levels interest rates and other fees in accordance with the law.
