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SBV Governor calls for implementation of PM’s instructions
At the closing session of the year-end conference of the State Bank of Vietnam (SBV) on December 30, 2008, the SBV Governor based himself on the instructions of Prime Minister Nguyen Tan Dung and the comments made by various participants to call upon all the entities of the whole banking sector to promptly implement a number of key issues for the successful performance in 2009. The Governor focused on 5 key points as follows:
Subsidiary units of the SBV and credit institutions should fully grasp Resolution No. 30/2008/NQ-CP of the Government dated December 11, 2008 on urgent measures of preventing economic decline, maintaining economic growth and ensuring social protection.
All the entities of the banking sector should take specific actions to implement the instructions of the Prime Minister and the key directives, tasks and solutions raised in the Report on banking performance in 2008 and directives in 2009.
The relevant SBV entities should attentively improve the institutional and regulatory monetary and banking regulations in line with international practice and standards and the practical situation of Vietnam with focal efforts on completing the drafting of the Law on the State Bank of Vietnam, the Law on Credit Institutions, the Law on Deposit Insurance and the Banking Supervision Law.
Credit institutions should step by step strengthen and promote their operations in line with their financial and governance capacity and to strictly comply with the SBV regulations on prudent operations, especially the charter capital level and capital adequacy ratio.
The Vietnam Banks Association should hold discussion as soon as possible on setting the proper operational interest rates of credit institutions so as to share the burden of economic difficulties with the whole nation.
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