Vietnam Reaffirms Control over Lending Stock Investors
The State Bank of Vietnam (SBV) has repeated that it will continue to tighten control over lending securities investors in accordant with the Decree 03.
The SBV will closely supervise lending activities of commercial banks and inspect and fine those lending more than 3 per cent of their outstanding loans for securities investors.
Last weekend, the SBV discussed the implementation of the Decree 03 after more than four months launched. It concluded that loans of banking sectors for securities trading are still below 3 per cent of total.
However, some banks still have securities lending surpassed 3 per cent of outstanding loans and they find hard to reduce the rate to 3 per cent prior to December 31, 2007 as regulated in the Decree 03. They are asked to take all measures to deal with the problem.
Vietnamese Prime Minister last week also signed an instructive, asking the State Bank to take measures to control commercial banks’ operations in lending securities investors in an effort to stable consumer prices in the remaining months of this year. (Youth)
Vietnamese
