Banks support 2%/year interest rate for 02 years from 2022-2023 which is mentioned in Decision 422/QD-NHNN on Action Plan of Banking sector to implement Resolution 11/NQ-CP.
Article table of contents
The bank will support the interest rate of 2%/year in 02 years 2022 - 2023 (Illustration image)
Accordingly, the Plan sets out five specific tasks and solutions to implement Resolution 11/NQ-CP on socio-economic recovery and development as follows:
(1) Operating monetary policy, credit and banking activities:
- Synchronously and flexibly operating monetary policy tools to contribute to maintaining macroeconomic stability, controlling inflation, actively supporting the process of socio-economic recovery and development. .
- Managing credit to promptly meet capital for production and business, strictly control credit for potential risk areas; continue to remove difficulties and support customers affected by the COVID-19 epidemic.
- Implement the policy of supporting interest rates of 2%/year for 02 years from 2022-2023 through the system of commercial banks (commercial banks) for commercial loans to enterprises, cooperatives and business households.
- Research to stabilize the maximum ratio of short-term capital for medium and long-term loans.
- Exemption and reduction of payment service fees.
(2) Increase charter capital for joint stock commercial banks where the State holds more than 50% of charter capital (SBV) and Bank for Agriculture and Rural Development of Vietnam (Agribank); ensure the safe operation of the system of credit institutions and continue to handle bad debts:
- Increase charter capital from after-tax profits, after setting aside funds for the period 2021-2023 for SOCBs and from the state budget for Agribank
- Closely monitor and supervise, ensure the safety of banking operations; implementing solutions to handle bad debts of the system of credit institutions.
(3) Implement support policies through VBSP
(4) Completing the legal framework; institutional reform, administrative reform, improvement of business investment environment; promoting disbursement of public investment capital under the management of the State Bank
(5) Coordinate with ministries and agencies in implementing tasks and solutions at the Program.
For details, see Decision 422/QD-NHNN , effective from March 18, 2022.
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