Hoạt động tín dụng ngoại hối quý I/2010 và một số vấn đề đặt ra trong cơ chế điều hành

NGHIEN cflu CHiNH SACH

HOAT DONG TI N DUNG, NGOAI HOI OUY1/2010

VA MOT SO VAN OE DAT RA TRONG CO CHl DIEU HANH • •

TRAN THI HONG MINH

Trung tam Thong fin va DU bdo kinh te - xd hqi qudc gia

Hoat d^ng tin dung tren thj

trUdng tai chinh

Trong quy 1/2010, boat ddng tfn

dung tren thj trddng tai cbfnb cua

nddc ta vao thdi diem trddc va sau

Tet Nguyen ddn dien ra theo hai

chieu hddng trdi ngddc nhau nbd

quy luat hang ndm. Tuy nhien, so

vdi moi nam, cdng thing tren thj

trddng tfn dung dien ra d mflc do

cao hdn. Trddc Tet Nguyen dan,

cac ngan hang thddng mai

(NHTM) gap nhieu khd khan ve

thanh khodn, vd'n khd dung dd

thfla chi vdo khodng 1 3 nghin ty

dong; tinh hinh thj trddng tfn diing

gan nhd ddng bang, ngan bang

khd huy ddng tien gfli va cQng ra't

han che viec cho vay. Tdng trddng

huy dong vd'n cua cdc td chflc tfn

dung chi tang 0,3% so vdi cudi

thang 12/2009; tang trddng tfn

dung chi tang 0,36% vd dd nd tfn

dung cua toan he thdng vao cudi

thang 1/2010 tang 1 % so vdi cudi

thang 12/2009. Trddc tinh hinb

nay, Ngan hang Nha nddc

(NHNN) da tang Iddng tien cdng

flng cho cdc NHTM nham dam

bdo khd nang thanh todn.

Sau Tet Nguyen dan, tinh hinb

thj trddng tfn dung dd cd nhieu

giBtjjgtBa'BBgjaa'aBBiaagiEigiagiBEfgEtBigiBOBiEiBEiaMEjaaia^^ mss^sssamEMSEiam

After tenseness and freeze before Tet holiday, credit market has

positively changed in second half of the first quarter. The liquidity of

many banks was improved, credit growth kept on its rising tendency.

The issuance of Circular 07/2010/TT-NHNN dated 26th of February 2010

by SBV on lending in Vietnamese dong in interest rates negotiated

between credit institutions and customers has marked a new milestone

in interest rate regulation mechanism, which is observed as a prudent

step towards interest rate liberalization.

During first quarter, our foreign exchange market also received quite

optimistic signs after the promulgation of Circular 03/2010/TT-NHNN

dated 10th of March 2010 by SBV on maximum deposit interest rate of

1% in USD of economic institutions and adjustment of interbank aver￾age exchange rate between VND and USD to 18,544 (increased by

3.36%) applied since 11 of February 2010. The increase in exchange

rate has imposed positive impacts on export and domestic production.

However, it is advisabie to take into account negative effects such as

raises in import prices brought at>out by increases in input materials and

output, as a result leading to high inflation risk; increases in payment of

foreign debts and foreign currency denominated debts of both public

sector and enterprises.

lS}ISMiSS^MS^?^^GiQ^^^Si!M3&^^M&SSS^^^Si^^3^S^SSS^^S33!^^&!SSMSi!MSMS!M^iSi^SIWSS^^^i^:^^iS!

chuyen bien tfch cflc. Tfnh thanh khodn cua cdc ngan hang dddc cai

tbien, vdn kbd dung dd thfla tang len 30 nghin ty ddng. Tang trddng tfn

dung cua be thdng ngan hang trong thdng 2 Id 1,14% (mflc cao nhat

trong 3 thang) va tiep tuc tang cao trong thang 3 (tang 1,49%). Nhd vdy,

tfnh chung quy I nam nay, tang trddng tfn dung ddc dat 2,95% so vdi

thang 12/2009'". Tong phddng tien tbanb toan (M2) de'n het thdng

3/2010 tdng 1,02% so vdi cudi thdng 2 va tang 2,3% so vdi thdng

12/2009.

Ve huy ddng vd'n, ngudn vd'n huy ddng cua he thdng ngan hang

trong hai thang dau nam 2010 da gidm 0,1 7%, trong dd, ddng chu y la

su' sut giam manh cua Iddng tien gfli tfl cac td chflc kinh te (giam

5,94%), tuy nhien, Iddng tien gfli cua dan cd da tdng manh trd lai (tdng

5,57%). Day la di§n bien thddng tha'y trong nhflng thang dau cdc nam

do cac doanh nghiep tap trung tang dau td phuc vu sdn xua't, kinh

'"Theo Bao cao cua BO Ke hogch va Ddu tU tgi phien hpp Chinh phu thudng ky thong 3/2010 Con

theo NHNN thi tang tradng tin dung quy 1/2010 Id 3,34% so vdi thdng 12/2009.

16 THONG TIN S. Dfl BAG KINH TE - XA HQI So 53 (5.2010)