The State Bank must report on the plan to handle SCB Bank in September.

The Government has just issued Resolution 144 of the regular Government meeting in August.

Continue to reduce interest rates

In the resolution, the Government requested the State Bank to preside over and coordinate with agencies and localities to closely monitor the situation, operate monetary policy proactively, flexibly, promptly and effectively, closely coordinate and synchronize with fiscal policy and other macroeconomic policies to further prioritize promoting growth associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy and social security.

The State Bank regulates credit growth to meet capital needs for the economy, directing credit to production, business, and priority sectors.

Urgently complete credit regulations, policies, and lending conditions with open, convenient, and feasible procedures, greatly increasing people's and businesses' access to credit and capital absorption in the economy, contributing to limiting "black credit".

Continue to strive to reduce lending interest rates, monitor the implementation of Circular 02 on extending debt repayment period and debt restructuring, to promptly guide and resolve arising problems.

The Government also assigned the State Bank to have solutions to continue promoting the disbursement of credit packages of 40,000 billion VND to support interest rates, 120,000 billion VND for social housing loans, and 15,000 billion VND for the forestry and fishery sectors.

Urgently review and adjust the risk coefficients for different real estate segments according to authority; review regulations related to lending and investing in corporate bonds to be consistent with the corporate bond market development policy according to Resolution 33 of 2023 of the Government.

Focus on handling weak banks

In particular, in this resolution, the Government also requested the State Bank to focus on handling weak banks and report to competent authorities in September this year.

Closely monitor bad debt situation, ensure safety of credit institutions system.

Urgently report to competent authorities in September the plan to handle SCB Joint Stock Commercial Bank (SCB Bank), without further delay.

In addition, the State Bank coordinates with the Ministry of Public Security in using the National Population Database under Project 06 to have appropriate unsecured lending mechanisms and policies, contributing to limiting "black credit".