Công văn 9104/NHNN-CSTT

With a view to satisfying the capital demand for business – production in the late months of 2009 and 2010, the Governor of the State Bank hereby requires the Chairperson of Board of Directors and General Manager of Commercial Banks, Manager of State Bank Branches in provinces, cities to implement following measures:

1. For commercial banks:

a. To continue complying with measures as provided for in the Directive No.01/CT-NHNN dated 22/5/2009 of the Governor of the State Bank on several measures of ensuring the prudential, efficient business operation of credit institutions and provisions of applicable laws on lending, ensuring the prudential ratio in foreign exchange dealing and management; to implement the commitment among members of Vietnam Bank Association on mobilization interest rate so as to stabilize the monetary market.

b. To provide capital to borrowing demand for an efficient business – production; first of all to concentrate capital sources on lending to expenses on agriculture – forestry, fishery, salt industry, procurement of agricultural products, processing and exporting with following measures:

- Stabilizing and increasing sources of mobilized capital, especially mobilized capital in VND.

- Closely controlling the credit growth rate and intensifying the credit structure shifting by industry, sector, urban and rural area, term and borrower; restricting the loan provision to capital demands of non-production sectors (securities trading loan, real estates trading loan, loan with agreed interest rate).

- Arranging and allocating loan capital sources properly for local branches in agricultural, rural areas.

c. For enterprises, production households who suffer damage due to natural disaster, flooding, commercial banks shall restructure the period of debt repayment, deal with loan interest rate and continue providing new loans so that the borrowers have conditions to perform business – production activity in line with provisions of applicable laws on lending by credit institutions.

2. For State Bank Branches in provinces, cities: To perform, within their scope of competence, the examination, supervision and inspection over the performance of provisions of applicable laws on lending, the implementation of directions by the State Bank of Vietnam on lending for production purpose by commercial banks in the local area; to timely report, propose to executive committees and local authorities, the State Bank of Vietnam for settlement of any arising issue regarding credit activity.