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"...Theo một nguồn tin đáng tin cậy, về cơ bản, dự thảo thông tư 13 sẽ được giữ nguyên. Theo đó, chỉ có một điểm được điều chỉnh là: tiền gửi không kỳ hạn của các tổ chức được tính vào tín dụng cho vay..."

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No amendments in Circular 13 to be made

September 15, 2010
http://www.vietfinancenews.com/2010/09/no-amendments-in-circular-13-to-be-made.html

VietFinanceNews.com - Unlike many people's expectations that the implementation of Circular No.13/2010/TT-NHNN would be delayed to next year, or some provisions related to the safety ratios would be adjusted, Governor of the State Bank of Vietnam (SBV) affirmed that the orientation and the objectives of SBV are very clear, and Circular 13 would only be a step to improve the standards, efficiency and safety of the banking system.



Therefore, if any amendment is made, it is only technical, towards the direction of revising the concepts; the standards would not be changed.


Although it is possible to forecast that there would be no change to the deadline of Circular 13, as well as there would be not much modification to the content, in last weekends, the market is still waiting for official news on this issue. According to a reliable source, basically, the provisions of Circular 13 would be kept as the same as the content issued. Only one point would be adjusted, according to that, the non-term deposits of the organisations would be counted into the source of capital for lending. This has been previously recommended by banking and financial experts and leaders of banks.


Duong Thu Huong, Secretary general of Vietnam Banks Association (VNBA) said the non-term deposits of the economic organisations always have certain stability. This type of capital would continuously flow in and out; therefore banks would not lose liquidity at any times. For example, when economic organisation A uses their non-term deposit for payment purposes, the bank would have attracted or attract non-term capital from organisation B. In addition, this source of capital would be used to maintain the stability of the non-term account of the bank, which accounts for 30 percent of the total mobilised capital. Banks would use a small proportion of this source for short-term capital supply.


Dr Le Xuan Nghia, vice Chair of the National Financial Supervisory Committee said no considerable changes would be made, although there have been recommendations to adjust some provisions of Circular 13 sent to SBV.


Members of National Advisory Council for Financial and Monetary Policies also said that the deadline to carry out Circular 13 should not be delayed, and provisions made earlier should not be adjusted.
However, according to Dr Tran Du Lich, member of the above council, if any adjustment in Circular 13 is made, he believes that SBV should reconsider the call deposits of economic organisations to be counted into the mobilised funds of banks; raising the capital adequacy ratio (CAR) to nine percent is reasonable.


Dr Nghia suggested that SBV should remove the cap of 80 percent on total deposit which can be used for lending. Of that, non�term deposits of economic organisation, social security, the State Treasury are not counted in the source for lending. Dr Nghia said this is considered the big obstacle in the expansion of credit activities, as well as the main obstacle to the momentum of lowering interest rates as regulated.


In order to have more abundant capital for lending, banks would find ways to negotiate with firms to make the call deposits to be notice deposits.


According to financial specialists, if call deposits of organisations are not counted into the mobilised funds of banks, which would make it difficult for banks and limit the lending activities. In addition, by regulating a high risk coefficient rate of 250 percent to funds for stock and real estate investments, banks must reconsider whether it is necessary to develop these types of lending. Although the ratios given in Circular 13 are for credit rating as well as risk management, in the current context, they seem to be unsuitable and may prevent the credit from developing.


Chair of Vietcombank (VCB) Nguyen Hoa Binh said if VCB's proposal to increase charter capital by 33 percent is not approved, the bank would face certain difficulties in order to meet the CAR of nine percent from October 1. According to Binh, VCB sold an amount of its stake in Gia Dinh Bank to mainly ensure CAR increase. The bank did not really need to sell, since the stock price has already been fallen. The credit growth target of VCB this year is ranging from 23 to 25 percent. To late August, the actual credit growth was 15 percent. The remaining target for credit activities in the last quarter of 2010 is large, however, according to Binh; in general, VCB would not focus on fast growing outstanding credit but credit quality.


General director of OCB Trinh Van Tuan said to late August 2010, the outstanding credit growth of the bank was approximately 10 trillion dong, and the mobilised capital is higher than that. The credit growth target of this bank in 2010 is 30 percent. According to Tuan, OCB will regulate accordingly to the supply and demand of mobilised and lent capital, to ensure the rates requested. Especially, when Circular 13 takes effect, bank would only use maximum 80 percent mobilised capital for granting credit.


According to general director of ACB Ly Xuan Hai, CAR of the bank currently meets the standard of nine percent under the new regulations of SBV. However, Hai added that, once Circular 13 goes into practice, ACB would have more careful consideration and tighter control on the effectiveness of the capital use, to ensure CAR. The risk coefficient rate of 250 percent for lending to stock and real estate investments would lead bank to limit credit growth for these two types of lending.


Another difficulty recommended by specialists in the financial sector is that the momentum to cut interest rates will slow down soon. In fact, recently, the pressure to raise interest rates has been gradually strengthened. Therefore, in order to carry out the interest rate cut policy, and stimulate credit growth, SBV should firstly increase the money supply to the market. The plan for money supply administration of the early months of the year may even be recalculated, and new plan to provide money to the economy should be made, in order to ensure that the economy would be in necessary liquidity status.


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