Chủ đề: the State Bank of Vietnam (SBV)

Central bank making liquidity moves in early 2022.

Vietnam’s non-cash payment ecosystem has witnessed the first cooperative deal between the National Payment Corporation of Vietnam (NAPAS), under the State Bank of Vietnam (SBV), and 13 Vietnamese banks to introduce domestic credit cards. This confirms the increasing popularity of non-cash payments in the country.

The State Bank of Vietnam (SBV) has specified cases where credit institutions are not allowed to purchase corporate bonds. Credit institutions are also not allowed to sell corporate bonds to subsidiaries of these credit institutions.

Data from the State Bank of Vietnam (SBV) reveals that total bank deposits by Vietnamese economic organizations this year stood at more than VND5.03 quadrillion ($218.6 billion) as of the end of May, up 3.26 per cent compared to the end of last year. In May, such organizations deposited VND59.12 trillion ($2.56 billion), accounting for four-fifths of net additional deposits.

The State Bank of Vietnam (SBV) has proposed eight solutions for the second half of 2021 as Covid-19 continues to make its presence felt. Notable points include conducting flexible monetary policy, maintaining liquidity in the banking system, synchronizing monetary, credit, and liquidity solutions to support economic recovery, managing interest rates in line with the macro balance, inflation, and market movements to reduce customer repayments, insisting businesses use telecommunications accounts to pay for goods and services of small value (Mobile-Money), and implementing the plan for the digital transformation of the banking sector to 2025 with an orientation to 2030.