Chỉ thị 06/2007/CT-NHNN về đảm bảo khả năng thanh toán và kiểm soát tổng phương tiện thanh toán do Ngân hàng Nhà nước ban hành

DIRECTIVE

ON THE ASSURANCE OF THE LIQUIDITY AND CONTROL OF THE TOTAL PAYMENT MEANS

In the recent months, with a view to implementing the guidance of the Prime Minister at the Directive No.18/2007/CT-TTg dated 01 August 2007 on some urgent measures to restrain the increase in market prices and other documents guiding the implementation of this Directive; the State Bank of Vietnam has managed an active and flexible monetary, credit and exchange rate policy in order to withdraw money from circulation, control the growth rate of credit and total payment means, not to allow the excessive increase or devaluation of Vietnamese dong; credit institutions shall perform an efficient business operation, support and implement monetary, credit and foreign exchange solutions issued by the State Bank of Vietnam. However, the inflation moves complicatedly, available capital of credit institutions is likely to decline which makes it difficult to control the total payment means.

With a view to implementing the Directive No.23/2007/CT-TTg dated 31 October 2007 of the Prime Minister on strengthening the implementation of solutions on the price management, market stabilization in late months of 2007 to serve the Lunar New Year 2008 and to ensure the liquidity, control of the total payment means, making contribution to the stabilization of price and promoting the economic growth in the late months of 2007 and early month of 2008; the Governor of the State Bank would like to request credit institutions and units of the State Bank of Vietnam to implement several measures as follows:

1. For credit institutions:

a. Examining the performance of business targets in combination with making assessment of, forecasting the socio-economic development, domestic and oversea monetary financial markets in order to implement solutions to ensure a prudential and efficient business operation.

b. Intensifying the available capital management, taking initiative of balancing the capital sources and use of capital, ensuring a safe liquidity to fully satisfy customers demand for payment, especially the expense for salary, bonus at the end of the year; maintaining prudential ratios, particularly the liquidity ratio provided for in the Regulation on prudential ratios in the activities of credit institutions issued in conjunction with the Decision No.457/2005/QD-NHNN dated 19 April 2005 of the Governor of the State Bank and the Decision No.03/2007/QD-NHNN dated 19 January 2007 of the Governor of the State Bank on the amendment, supplement of several articles of the Regulation on prudential ratios in the activities of credit institutions issued in conjunction with the Decision No.457/2005/QD-NHNN.

c. Closely controlling the changes in business items; making the balance of capital to engage in the open market operation and seriously implementing related monetary, credit and foreign exchange solutions upon the request of the State Bank of Vietnam.

d. Seriously and efficiently implementing solutions provided for in the Directive No.03/2007/CT-NHNN dated 28 May 2007 of the Governor of the State Bank on the control over credit scale, quality and lending for securities investment, trading for monitoring inflation, enhancement of economic growth and other documents guiding the implementation of this Directive; closely controlling the increase in credit in conformity with the actual increase in mobilized capital and ability to control credit quality; ensuring the outstanding loans, making discount of valuable papers for investing in securities trading at the rate of less than 3% of the total outstanding credit; the establishment branches, diversification of business activities must be in compliance with provisions of applicable laws and guidance of the State Bank of Vietnam.

dd. Observing the time-limit and ensuring the accuracy of information, reports and telegrams as provided for in the Decision No.477/2004/QD-NHNN dated 28 April 2004 of the Governor of the State Bank on the issuance of the Statistic Reporting Regime applicable to units of the State Bank and credit institutions and the Decision No.1747/2005/QD-NHNN dated 01 December 2005 on the amendment, supplement of several articles of the Statistic Reporting Regime, the Directive No.02/2007/CT-NHNN dated 20 March 2007 on the intensification of methods of improving the statistic reporting quality in Banking industry and other related documents.

2. For units of the State Bank of Vietnam

a. For units at the Head Office of the State Bank, within the scope of their function and duties, providing advice to the Governor of the State Bank to perform following measures:

- Managing the monetary, credit and exchange rate policy in an active, flexible manner and in line with the market principle; continuing to withdraw money from circulation, restructuring the sold short term bills of the State Bank, buying foreign currency at an appropriate level in order to stabilize the interest rate, exchange rate, raising foreign currency reserve of the State, controlling the growth rate of total payment means at an appropriate level, not allowing the excessive increase or devaluation of Vietnamese dong.

- Intensifying the inspection, supervision over the compliance with provisions of laws on business activities of credit institutions; attaching special attention to the inspection, supervision over the lending, discount of valuable papers for investing in securities trading in accordance with the Directive No.03/2007CT-NHNN; applying appropriate measures for dealing with cases of violating provisions of applicable laws.

- Doing statistics, supervising and efficiently managing the outgoing, incoming capital flows of foreign indirect investment into Vietnam, capital for lending and discount of valuable papers for securities investment, dealing of credit institutions; coordinating with functional units of the Ministry of Finance to build up and carry out the mechanism of managing, supervising and exchanging information about securities market.

b. For State Bank branches in provinces, cities under the Central Governments management: On a regular basis, following up, checking, supervising and inspecting the business activity of credit institutions in the local areas of the province, city; taking initiative of making report to the Governor of the State Bank on difficulty, query relating to banking activity in the local area of province, city and suggesting solutions of settlement.

3. Implementing organization:

a. This Directive shall be effective after 15 days since its publication on the Official Gazette.

b. Director of Administrative Department, Director of the Monetary Policy Department and Heads of units of the State Bank, Manager of State Bank branches in provinces, cities under the Central Governments management and General Director (Director) of credit institutions shall be responsible for the implementation of this Directive.

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