To ensure payment operations of the system of credit institutions during the 2024 Tet holiday

To meet the demand for transactions, payments, and lawful disbursements of individuals and businesses during the end of 2023, the New Year holiday of the Gregorian calendar, and the Lunar New Year 2024, the Prime Minister of the Government of Vietnam has requested the State Bank of Vietnam to:

- Direct the operation of the clearing and settlement system, ensuring the stable, secure, and smooth operation of the payment system 24/7, and serving the payment needs and cash withdrawal needs through the ATM system before and during the holidays of the Gregorian calendar and the Lunar New Year of the year 2024. Ensure the proper provision of payment services by the National Interbank Payment System.

- Properly organize the regulation and supply of cash, meeting the cash needs of the economy in terms of value and denomination structure; ensuring the security and safety of cash reserves.

- Coordinate closely with relevant agencies to strengthen inspections, promptly detect and handle violations in foreign exchange trading and gold trading activities, and ensure compliance with regulations on currency exchange.

- Enhance cybersecurity monitoring and implement necessary technical measures and staffing arrangements to ensure the security of payment systems and related systems.

- Direct credit institutions and branches of foreign banks to:

+ Take measures to ensure liquidity, allocate staff to provide stable, secure, and smooth payment services before and during the holidays of the Gregorian calendar and the Lunar New Year of the year 2024. Properly organize foreign exchange services, enhance foreign currency exchange activities to serve the needs of foreign tourists.

+ Meet the credit needs for the development of production and business activities of individuals and businesses during the end of the year and the beginning of the year; direct credit towards priority sectors according to the government's policy, especially the growth drivers; and resolute measures to counter negative credit supply. Continue to tightly control and effectively manage credit in sectors with potential risks, group benefits, cross-ownership, etc.

More details can be found in Official Dispatch 1436/CD-TTg, issued on December 29, 2023.

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