Proposal for the Treasury to extend the deposit limit during Tet

On January 7, the State Treasury (Ministry of Finance) said that this agency is developing a draft Government Resolution on adjusting the limit for using temporarily idle State funds for term deposits at commercial banks.

Accordingly, they proposed to raise the limit limit from a maximum of 50% to 60%, applicable until February 28. After this time, deposited amounts will be maintained until maturity but must ensure that the balance until March 31 does not exceed the limit according to current regulations.

Temporarily idle State treasury is a source of money that has “not yet been disbursed” but has specific spending tasks. The Ministry of Finance said that adjusting the limit will increase pressure on this agency to promptly and fully meet the State budget payment needs such as social security expenditures, disbursement of investment capital… However, this will support the State Bank in stabilizing the system’s liquidity during the year-end period and Lunar New Year 2026. From there, the operator can reduce pressure on market interest rates, stabilize the macroeconomy, and contribute to realizing the goal. growth.

Recently, the banking system’s credit growth has increased rapidly while banks’ capital mobilization has not met this need. According to a report from the State Bank, system-wide credit as of December 24 grew by 17.87% compared to the beginning of the year, reaching 18.4 million billion VND. Meanwhile, the capital mobilization growth rate is only about 14%. This difference creates great pressure on system liquidity, especially around Tet, when capital demand increases due to seasonal factors.

In fact, the State Bank has implemented solutions to stabilize the market, and at the same time, the Ministry of Finance has deposited temporarily idle funds at banks near the maximum limit of 50%.

However, in recent times, liquidity in the monetary market has been difficult, leading to high interbank interest rates. For example, short-term interest rates of less than 1 month in the interbank market sometimes maintained 6.5-7.5% a year, significantly higher than the level of less than 5% in the first half of the year.

“Adjusting this maximum limit is necessary and urgent,” the Ministry of Finance stated, affirming that they will proactively manage deposit balances, ensure liquidity safety and not exceed the prescribed limit.

In addition, the Ministry of Finance and the State Bank will coordinate and synchronize fiscal policy and monetary policy, contributing to promoting growth while maintaining macroeconomic stability.