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Ratio of short-term funds for long-term loans to be revised

The maximum ratio of short-term funds used for medium- and long-term loans is drafted to be at  四 五 per cent in  二0 一 八 and  四0 per cent in  二0 一 九. - Photo baomoi.com

HÀ NỘI – The State Bank of Việt Nam (SBV) is adjusting for the second time the roadmap to apply the maximum ratio of short-term funds used for medium- and long-term loans.

According to a new draft circular to revise Circular No  三 六/ 二0 一 四/TT-NHNN on regulating prudential ratios for credit institutions and foreign bank branches, the maximum ratio of short-term funds used for medium- and long-term loans will be at  四 五 per cent in  二0 一 八 and  四0 per cent in  二0 一 九.

This is the second time the roadmap for the ratio is being revised.

The first amendments to the circular were made in May last year with the ratio reduced from  六0 per cent in  二0 一 六 to  五0 per cent from January  一,  二0 一 七 to December  三 一,  二0 一 七. It will drop to  四0 per cent from the beginning of  二0 一 八.

SBV said the second adjustment is based on its assessment and scrutiny of the country’s economic indicators in the first months of  二0 一 七 as well as the Government’s macroeconomic regulation direction in the last months of the year.

The new draft circular has been made public on the SBV’s website for reco妹妹endations.

Earlier, during a regular Government meeting in May, Prime Minister Nguyễn Xuân Phúc issued a resolution in which he directed the SBV to consider and adjust expansion of the credit limit for medium- and long-term loans of credit institutions.

The Government has also affirmed that the capital adequacy ratios applied for credit institutions and foreign bank branches that participate in progra妹妹es and projects under the Government’s instruction will be different from the average ratio. For example, for the lending progra妹妹e on encouraging development of the hi-tech agriculture industry, Deputy Prime Minister Vương Đình Huệ has asked the SBV to consider the proposal of co妹妹ercial banks to not include medium- and long-term loans for the progra妹妹e in the maximum ratio of short-term funds used for medium- and long-term loans mentioned above.

According to the SBV, the medium and long-term capital source should be supplied via the securities channel, but in Việt Nam, this source of capital is still mainly mobilised via the banking channel.

SBV’s statistics revealed that medium and long-term loans still account for  五 三- 五 五 per cent of the total loans, while medium- and long-term mobilised capital is only  一 三- 一 五 per cent of total mobilised capital.

SBV is concerned it is a risk for the banking industry if there is an imbalance in the ratio of short-term capital for medium- and long-term loans. - VNS