The Prime Minister requested the State Bank to immediately issue two important circulars.

Prime Minister Pham Minh Chinh met with the State Bank, the Ministry of Finance, and the Ministry of Justice to review and promote the immediate issuance of two important circulars - Photo: VGP/Nhat Bac

Attending the meeting were Secretary of the Party Central Committee, Deputy Prime Minister Le Minh Khai; Governor of the State Bank Nguyen Thi Hong; Minister, Head of the Government Office Tran Van Son; leaders of ministries, branches and the State Bank of Vietnam.

Regarding the draft circular on debt restructuring, debt deferral, and non-debt group transfer guidelines, the Prime Minister requested the State Bank to continue to complete the draft by considering expanding the scope of subjects and extending the appropriate application period, while designing inspection, supervision, control tools and promoting decentralization to enhance the responsibility of credit institutions and timely, flexible, and effective policy responses.

Regarding the draft circular amending and supplementing a number of articles of Circular 16/2021/TT-NHNN regulating the purchase and sale of corporate bonds by credit institutions and foreign bank branches, the Prime Minister requested that it be necessary to design support for the corporate bond market to increase market confidence and in the direction of allowing credit institutions to immediately buy back corporate bonds; at the same time, create more favorable conditions for credit institutions to invest and lend to corporate bonds to increase supply, liquidity, and develop the market on the basis of safety and efficiency.

The Prime Minister requested the State Bank to continue directing banks to lower interest rates appropriately to support people and businesses - Photo: VGP/Nhat Bac

In addition, at the meeting, the Prime Minister also requested the State Bank to continue directing banks to lower interest rates appropriately to support people and businesses; promptly carry out the tasks assigned in Resolution No. 33/NQ-CP of the Government on a number of solutions to remove obstacles and promote the safe, healthy and sustainable development of the real estate market; promptly submit a plan to restructure weak credit institutions, especially SCB; coordinate with the Ministry of Construction to effectively implement the VND 120,000 billion credit package for social housing and workers' housing, meeting the expectations of people and businesses; promptly complete the dossier of the revised Law on Credit Institutions to remove current obstacles, in accordance with the actual situation, on the basis of feasibility and efficiency.

According to Government newspaper