Implementing the provisions of Decree No. 24/2016/ND-CP dated April 5, 2016 of the Government on the state budget management regime (amended and supplemented in Decree No. 14/2025/ND-CP), the Ministry of Finance has organized the operation of temporarily idle state budget (SBR) use nghiep vu in accordance with regulations, ensuring liquidity safety and improving the efficiency of using budget resources.
In recent times, in order to achieve the goal of high economic development in 2025 and the following years, the disbursement of public investment capital has been directed by the Government to be promoted. However, there is still a certain amount of funding, mainly local budget, that has been assigned expenditure tasks but has not been disbursed, including salary reform, increased revenue - spending savings, and basic construction investment capital.
The State Treasury has temporarily deposited idle NQNNs at commercial banks at a maximum level of 50% of their usable capacity according to current regulations. However, at some times, liquidity in the money market faced difficulties, interbank interest rates increased sharply, and at times interest rates for short terms under 01 month were maintained at 6.5–7.5%/year, limiting the ability to invest in government bonds of credit institutions.
Meanwhile, temporarily idle state budget funds are actually "not yet disbursed" but have specific spending tasks. The Ministry of Finance and the State Treasury must always ensure readiness and timely meeting all budget spending requirements according to the decisions of competent authorities and the requirements of investors and estimating units.
Adjusting limits to support market stability
Implementing the conclusion of the Standing Government, in order to ensure safe management of NQNN, fully meet the needs of state budget expenditures, and at the same time support the State Bank in stabilizing the liquidity of the money market during the peak period at the end of the year, the adjustment of the limit for using temporarily idle NQNN for term deposits at commercial banks at the end of 2025 and Lunar New Year 2026 is identified as necessary and urgent.
On that basis, based on the provisions of the Law on Promulgation of Legal Documents, the Ministry of Finance has developed a draft Resolution of the Government on adjusting the limit of use of temporarily idle SBNs for term deposits at commercial banks, in order to create a legal basis for timely raising deposit balances, supporting the stability of monetary market liquidity in the context of increasing payment demand of the economy at the end of the year and Lunar New Year.
This adjustment is also aimed at improving the effectiveness of coordination between fiscal policy and monetary policy, ensuring the implementation of the goal of promoting growth associated with maintaining macroeconomic stability according to the Resolutions of the National Assembly on the Socio-Economic Development Plan for 2025, 2026 and Conclusion No. 123-KL/TW dated January 24, 2025 of the Central Executive Committee, with the growth target for 2025 reaching 8% or more.
Increase the ceiling for temporarily idle treasury deposits to 60%
The draft Resolution includes 03 articles. Regarding the adjustment of the limit for using temporarily idle SBNs for term deposits at commercial banks, the draft regulates the adjustment to increase the limit from a maximum of 50% to a maximum of 60% according to point d, clause 3, Article 9 of Decree No. 24/2016/ND-CP, which has been amended and supplemented in Decree No. 14/2025/ND-CP.
The application period is from the date the Resolution takes effect to the end of February 28, 2026. After this time, NQNNs that have been deposited for a term at commercial banks are allowed to be maintained until maturity, but must ensure that the deposit balance by March 31, 2026 does not exceed the limit according to current regulations.
Adjusting the limit increase in this period may increase pressure on the Ministry of Finance in ensuring timely and full meeting of budget expenditure needs, especially social security expenditure and disbursement of basic construction investment capital. However, this solution is assessed to support the State Bank in stabilizing liquidity of the commercial banking system, thereby reducing pressure on the market interest rate level, contributing to macroeconomic stability and supporting growth targets.
