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The Prime Minister has issued Decision No.213/QD-TTg to establish a Steering Committee to restructure the credit institution system, in order to implement the project of restructuring credit institutions associated with handling non-performing loans more effectively.
The Steering Committee for restructuring credit institutions has the task of assisting the Prime Minister in directing the implementation of solutions to restructure credit institutions associated with non-performing loan settlement according to the objectives and orientations mentioned in Clause 1 of Decision No.689/QD-TTg dated June 8, 2022 approving the Scheme on restructuring the system of credit institutions associated with non-performing loan settlement for the period of 2021 to 2025 and amendments and supplements (if applicable ) (Decision No.689).
To study and propose to the Prime Minister directions and solutions to handle important issues, handle difficulties and obstacles in the process of implementing Decision No.689 and issues beyond the authority of the Ministry and department level.
To assist the Prime Minister in directing and stimulating ministries, industries and localities to handle issues within the scope of Decision No.689 within the functions and tasks of ministries, industries and localities.
Perform other tasks under the Prime Minister's direction on restructuring the system of credit institutions associated with non-performing loan settlement.
Previously, on June 8, 2022, Deputy Prime Minister Le Minh Khai signed Decision No. 689/QD-TTg approving the project "Restructuring the system of credit institutions associated with non-performing loan settlement in the period of 2021-2025".
With the goal of creating a clear and substantive change in the structure of the system of credit institutions associated with non-performing loan settlement, the Project has specified specific tasks and solutions to strive to reduce the number of credit institutions by 2025, improving credit quality, basically dealing with weak banks, not allowing new weak banks to arise, creating a healthy system of credit institutions and sustainable development.
Along with that, speeding up the handling of non-performing loans, improving credit quality, preventing and minimizing newly arising bad debts; improving the financial capacity of credit institutions; improving the financial capacity of credit institutions; preventing cross-investment, cross-ownership and manipulative and dominant ownership in relevant credit institutions.
The project of pilot implementation applying advanced methods at state-owned commercial banks with controlling shares and joint stock commercial banks with good governance quality has completed applying Basel II according to the standard method by the end of 2025; promoting that by 2023, the capital adequacy ratio (CAR) of commercial banks will reach at least 10-11%; by 2025, reaching at least 11-12%.
Previously, in Resolution No.31/NQ-CP, the Government required the State Bank of Vietnam to focus on effectively handling weak commercial banks, ensuring liquidity and system safety, and focusing on bad debt settlement and limit newly arising bad debts, strengthen inspection and supervision...
With the goal of creating a clear and substantive change in the restructuring of the system of credit institutions associated with bad debt settlement, the Project has specified tasks and solutions to strive to reduce the number of credit institutions by 2025, improve quality of credit institutions, basically dealing with weak banks, not allowing new weak banks to arise, maintaining a healthy system of credit institutions and sustainable development.
