There were only 6 opinions expressed in nearly an hour when the National Assembly discussed in the hall the project Law on Credit Institutions (amended) on the afternoon of May 22. Many contents in the report explaining, receiving and revising the law project of the National Assembly Standing Committee have received the agreement of the delegates.

These include regulations on lending for stock trading. During the discussion at the sixth National Assembly session and finalization of the law project after the session, many opinions proposed to maintain the regulation prohibiting commercial banks and foreign bank branches from granting investment and business credit. stock trading according to the draft law.

Because investment loans and stock trading have a very high level of risk, can cause insecurity for each commercial bank and the entire banking system, and can also be a factor that causes loss. stabilize the stock market when lending banks have to sell off mortgaged stocks.

The second type of opinion suggests continuing to allow commercial banks and foreign bank branches to lend for investment and stock trading as current regulations. In the opinion of the National Assembly Standing Committee, Vietnam's capital market is still very young, while long-term capital sources in the economy are very limited, so it is necessary to create favorable conditions for purchasing, Selling and transferring shares to increase the liquidity of stocks, thereby attracting capital to invest in stocks.

Furthermore, prohibiting commercial banks and foreign bank branches from providing investment loans and trading securities will lose the advantage and competitiveness of Vietnamese banks and financial markets. Therefore, to promote the development of Vietnam's financial market, it is necessary to regulate banks and foreign bank branches to provide short-term investment loans and stock trading to promote the development of the market. capital market.

However, investing and trading in stocks is a very risky activity, therefore, to ensure the safe operation of the system of credit institutions, it is necessary to stipulate the conditions and limits that the Banks and foreign bank branches are allowed to lend for this activity. The National Assembly Standing Committee has proposed removing the regulation prohibiting commercial banks and foreign bank branches from granting credit to invest and trade in stocks. The latest draft law has been supplemented with regulations on limits and conditions for granting credit for investment and trading in stocks of commercial banks and foreign bank branches prescribed by the State Bank.

In addition, regulations related to the operations of credit institutions have also been revised to expand the scope of commercial banks' operations. Basically, after revision, the draft law fully and specifically stipulates the scope of the bank's business activities, including banking activities, said Chairman of the Economic Committee Ha Van Hien. Accordingly, for commercial banks, as soon as they are licensed to establish and operate, they can immediately carry out 20 groups of business activities.

There are only 6 groups of high-risk business activities that require permission to operate. Delegate Cao Sy Kiem said that, after being revised, the provisions of the bill have created conditions for credit institutions to be more autonomous and dynamic and supervision is also stricter.

However, some content is still directional, quantitative issues still need to wait for guidance from the State Bank. According to delegate Nguyen Dinh Quyen, regarding capital contribution and share purchase, the current law has set a limit of 11% of commercial banks and commercial bank subsidiaries that can be purchased in the charter capital, which is now assigned to the Bank. State regulations are a step backward.

The Right Delegate proposed that this ratio should be immediately determined in the law to avoid arbitrariness. Vice Chairman of the National Assembly Nguyen Duc Kien explained that assigning the State Bank to regulate some issues in the bill comes from the practice of operating monetary policy and interest rate policy over the past many years and to suit the situation of each period.

According to Vneconomy