Presenting the reception, explanation, and revision of the draft Law amending and supplementing a number of articles of the Law on Credit Institutions at the meeting of the National Assembly Standing Committee (NASC) on the morning of June 10, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong said that the source of money used to lend the agency's special 0% interest rate loan is not taken from the budget, so there is no risk of having to compensate for interest.
However, the State Bank continues to review regulations on handling special loans according to regulations on financial regime.
In addition, according to Governor Nguyen Thi Hong, special lending by the State Bank is only for two cases. One is when a credit institution is subject to mass withdrawals (to pay depositors). The other is to implement the recovery plan, compulsory transfer of credit institutions under special control and is only applied after implementing operational measures such as recapitalization, open market, etc.
“The special lending of the State Bank is necessary to prevent the phenomenon of mass withdrawals at credit institutions, as well as to limit the risk of spreading to other credit institutions, or to support the recovery plan, compulsory transfer to restructure credit institutions under special control,” the Governor stated. According to the Governor, the special lending also aims to ensure the safety of the credit institution system, not to create a competitive advantage for credit institutions receiving special loans.
Regarding this issue, the Economic and Financial Committee's review report recommends reviewing current regulations on special loans; studying options for detailed criteria; regulating special lending conditions for loans with 0% interest rate/year, loans without collateral; proposing to have clear and transparent regulations on lending procedures and procedures and having measures to strengthen control, prevent and limit possible losses...
In response to this opinion, the Government has proposed that after the draft Law is promulgated, the SBV continue to review issues related to criteria and conditions for special loans with an interest rate of 0%/year, no collateral and purpose of the loan, responsibilities of the borrowing unit and responsibilities of the SBV when lending, controlling cash flow to amend and supplement regulations on related special loans in Circular No. 37/2024/TT-NHNN.
The Standing Committee of the Economic and Financial Committee agreed with the Government's plan and proposed that the Government pay attention to directing the State Bank to review relevant regulations on special lending to avoid risks, avoid policy abuse, reduce the internal restructuring motivation of banks, increase transparency in lending procedures and processes, and strengthen control, prevention, and limitation of possible losses, avoid moral risks, policy risks and side effects, and ensure market confidence and fairness.
Source: https://www.sggp.org.vn/khoan-vay-dac-biet-lai-suat-0-khong-dan-toi-rui-ro-phai-bu-lai-suat-post798848.html
![[Photo] President Luong Cuong talks on the phone with South Korean President Lee Jae Myung](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/6/13/eee54a4c903f49bda277272b1dda68e8)
Comment (0)