On August 1, Central Party Committee member and Deputy Prime Minister Ho Duc Phoc chaired a meeting of the Steering Committee for restructuring credit institutions and handling bad debts.
At the beginning of the meeting, the Deputy Prime Minister said that in recent times, we have implemented a very strong restructuring of credit institutions; successfully converted 4 banks; and are restructuring SCB Bank.
The Deputy Prime Minister suggested that the delegates speak frankly, evaluate the results achieved and the work that needs to be focused on in the coming time to restructure credit institutions to be most effective.
At the meeting, delegates expressed their opinions on the implementation of restructuring SCB Bank; handling bad debts of credit institutions; handling cross-ownership; coordination between monetary policy and fiscal policy, capital market; handling collateral assets; handling bad debts in the land and real estate sectors.
Giving opinions on the fight against crimes in the fields of currency and banking; implementing enforcement work related to credit institutions; improving the effectiveness of inspection, examination and supervision of banks; reforming lending procedures...
Representatives of ministries and branches also gave their opinions on the contents related to the results of implementing the tasks stated in Decision 689 of the Prime Minister approving the Project "Re cau truc the system of credit institutions associated with bad debt settlement in the period of 2021-2025"; safely and sustainably developing the life insurance sector.
Concluding the meeting, the Deputy Prime Minister emphasized the need to operate monetary policy effectively, maintain macroeconomic stability, combat inflation, maintain exchange rates, and promote economic growth. At the same time, it is necessary to strictly manage to maintain the solid stability of the banking system; continuously monitor and evaluate restructured credit institutions and banks with weak capacity to have timely and effective solutions.
The Deputy Prime Minister also requested a harmonious, reasonable, and synchronous combination of monetary policy and fiscal policy. Promote digital transformation in payment activities. Effective monetary policy management, ensuring capital supply for production and business. Good management of the foreign exchange market; maintaining the exchange rate for USD; research and advise on solutions to issue USD bonds...
Regarding credit rooms, in the short term, this is still a management tool, increasing credit rooms in the current period is necessary. For banks that are operating effectively, it is necessary to increase the room for allocation to increase capital for the economy.
The Deputy Prime Minister also emphasized that the effective design and implementation of preferential credit packages (social housing loans, poverty reduction, etc.); strict management of cash flow and credit direction for production and business helps the economy develop quickly and sustainably. At the same time, strengthen and improve the effectiveness of inspection, examination and supervision of banks (with focus and key points), effectively prevent cross-ownership; resolutely handle bad debts.
