Accordingly, the SBV must appropriately regulate interest rates in line with market realities; design and perfect a mechanism for regulating prime interest rates instead of the ceiling mobilization rates in order to curb inflation.

Commercial banks are encouraged to take part in inter-banking market and access to open market operations at the SBV, so as to make sure their capital and liquidity capacity; then gradually define stable and acceptable inter-banking interest rates as the basis to orientate and stabilize the monetary market.

The SBV is also asked to closely supervise the operations of credit organizations to prevent hot and unsafe credit growth.

The PM urged to check and assess credit loans of commercial banks; manage credit supply and demand; and find out what kind of credit loans to be encouraged.

According to the PM, macro regulatory tools are used in accordance with the market economy’s rules to raise the credit standards and control credit growth rate.

The PM assigned the SBV, General Statistics Office (Ministry of Planning and Investment), National Financial Supervisory Committee and other competent agencies to set up mechanism and system to provide information and reports in credit and monetary activities.

The Việt Nam Banks Association is asked to actively and regularly exchange information and collaborate closely with the SBV in completing policies relating to the credit organizations.

By Phùng Lợi