Thị Trường Liên Ngân Hàng giai đoạn 2008 - 2012
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Transcript of Thị Trường Liên Ngân Hàng giai đoạn 2008 - 2012
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Hc vin Ngn hng
TIN T - NGN HNGBI THO LUN
TH TRNG LIN NGN HNG VIT NAMGIAI ON 2008 - 2013
DANH SCH NHM1/L Hng Nhung ( Nhm trng)2/on Th Thy Hng3/L Th Thy Hng4/Nguyn Thu Hng5/Bi c Mnh6/V Th Thanh Huyn7/Bi Th Ngc8/L Vng Thy Linh9/Thng Th Phng Trinh
I.Khi qut chung v th trng lin ngn hng v hot ng vay vn trn th trng lin ngn hng1.Th trng lin Ngn hng1.1 Khi nim s hnh thnhTheo ngha hp, th trng lin ngn hng ng ngha vi th trng tin t, l ni thc hin vic i vay v cho vay ln nhau gia cc ngn hng nhm b p ngn qu ca mnh.Theo ngha rng, th trng lin ngn hng l ni thc hin cc giao dch vn c bn gia cc ngn hng, thng thng cc giao dch ny c thc hin thng qua ti khon tin gi ca cc ngn hng ti ngn hng trung ng.Th trng lin NH hnh thnh do mt s nguyn nhn sau: Do nn kinh t th trng pht trin dn n h thng cc t chc tn dng cng pht trin mng m c v s lng v cht lng. Trong qu trnh hot ng, mt s TCTD d tha vn trong khi mt s TCTD khc li thiu ht vn do cho vay qu nhiu hoc c nhu cu ln v cc ngha v ti chnh. Vic huy ng vn t tin gi v giy t c gi khng p ng nhu cu vn ca ngn hng. gii quyt tnh trng thiu ht vn tm thi trong thi gian ngn, ngn hng c th i vay vn t cc TCTD khc c lng vn cn thit cho hot ng tn dn, thanh ton v chi tr kp thi theo yu cu ca khch hng.Nh vy, trong tnh hnh , gia cc TCTD hnh thnh mt th trng c bit th trng lin ngn hng.1.2.c imTh trng lin ngn hng l mt b phn ca th trng tin t, c nhng c im c bn sau:- L th trng v hnh, lin kt ton cu: Thng qua h thng giao dch hin i, cc doanh v mua bn trn th trng lin ngn hng c thc hin trn c s lin kt ton cu gia cc ngn hng, cc nh kinh doanh phi ngn hng v ngi mi gii tin t.Th trng lin ngn hng hot ng 24/24 gi trong 1 ngy trn phm vi quc t.- Th trng lin ngn hng l th trng cc k nhy cm v l th trng thng tin: Th trng lin ngn hng l mt mng li cc quan h ngn hng i l, trong NHTM ny m ti khon tin gi thanh ton ti NHTM khc. H thng ti khon gia cc ngn hng i l gip cho th trng lin ngn hng hot ng hiu qu.- Th trng lin ngn hng ch yu l th trng bn bun: Hng ha giao dch th trng lin ngn hng l mua bn tin gi ngn hng, tc l khon d tr d tha tm thi vi nhng giao dch ln.- Th trng lin ngn hng l th trng c tin cy rt cao: Thnh vin ca th trng ch yu l cc ngn hng v cc t chc trung gian ti chnh p ng c cc yu cu v vn, k qu, chuyn mn, o c ngh nghip, c giy php hnh ngh. Cc giao dch y hu nh khng c ti sn m bo, cc th tc php l cc k n gin.- Th trng lin ngn hng l th trng vn ngn hn: do trong thc t cc giao dch trn th trng lin ngn hng ch yu l cc giao dch ngn hn.- Th trng lin ngn hng thc hin giao dch thng qua cc cng c hin i: Trn th trng lin ngn hng, ngi mi gii (a s l ngn hng) mua bn tin gi qua in thoi, my tnh bng cc cng c phi sinh nh quyn la chn, hp ng tng lai1.3. Gi trn trn th trng lin Ngn hngGa trn th trng lin Ngn hng chnh l li sut lin NH. Li sut lin NH l li sut m cc NH p dng cho nhau vay, c n nh hng ngy da trn quan h cung cu tin ca cc TCTD v chu s chi phi ca li sut ti cp vn ca NHNN. NHNN khng tham gia trc tip vo th trng lin NH nhng c mt vai tr v cng quan trng trong vic hnh thnh li sut thng qua cc can thip gin tip,nh bm v ht tin khi lu thng, t tc ng ti cung cu tin t trn th trng theo mong mun ca |NHTW v hnh thnh nn li sut ph hp.Li sut trn th trng lin NH phn nh cc quan h cung cu v vn trong nn kinh t v cc t chc trung gian ti chnh, phn nh tn hiu ca NHTW i vi cc T chc Tn dng (TCTD) cng nhng trng thi cung cu v vn kh dng ca cc NHTM.Li sut lin NH cn c coi l c s xc nh li sut th trng. N thng phn nh xu hng li sut ca NHTW v l mt trong nhng cn c cc TCTD xc nh ng hng li sut tin gi, tin vay i vi Khch hng ca mnh. 1.4.Vai tr ca th trng lin Ngn hnga. i vi th trng ti chnh: - Th trng hi oi lin ngn hng l th trng ti chnh ln nht th gii hin nay xt c v doanh s, t trng v kh nng sinh li nhun.- i vi th trng chng khon, th trng lin ngn hng l th trng nn tng v cc giao dch chng khon phi c thc hin thng qua h thng in t lin ngn hng, qua trung tm thanh ton b tr, qua cc ngn hng ch nh thanh ton- i vi vic thc hin cc chc nng ca th trng ti chnh: + Th trng lin ngn hng rt nhy cm vi li sut v t gi v vi nhng bin ng c lin quan n gi tr danh mc u t. Do n cung cp d liu cho nhng ngi quan tm mt cch kp thi.+ Th trng lin ngn hng hot ng hu hiu s gp phn kim sot ngn hng tt hn, gp phn to ra khung th ch tha ng cho hot ng phn b vn.b.i vi chnh sch tin t: Th trng ngn hng l ni a ra cc tn hiu cho vic hoch nh chnh sch tin t ca NHTW mt cch nhy cm v kp thi v t gi, li sutc.i vi nn kinh t: Th trng lin ngn hng gp phn lm cho ngun vn ngn hng c s dng hiu qu nht, khng gy lng ph.Thng qua th trng lin ngn hng, cc TCTD s dng c hiu qu ngun vn ca mnh, suy rng ra l ton b ngun lc ca x hi c s dng c hiu qu.d.i vi cc TCTD: Th trng lin ngn hng to iu kin m bo an ton cho h thng ngn hng v cc TCTD,l ni gip cc TCTD nhanh chng tm kim cc ngun tin mt, tng c hi thu li bng cch hn ch cc khon d tr mc thp nht phn chia ngn qu cho cc ti sn sinh li, ng thi iu chnh kp thi cc phng tin chi tr.
2. Hot ng vay vn ca cc TCTD trn th trng lin ngn hngHuy ng vn l mt trong cc hot ng c bn ca cc TCTD. Cc TCTD c th huy ng vn bng cch nhn tin gi, i vay, pht hnh giy t c gi. Ngoi vic huy ng vn ca cc c nhn , t chc, Php lut cn cho php TCTD c vay vn ca NHNN v cc TCTD khc. Vic huy ng vn c thc hin bi cc loi hnh giao dch khc nhau.a/ Huy ng vn gia cc TCTD vi nhauCc TCTD huy ng vn bng hnh thc vay vn ca cc TCTD khc c km theo mt quy ch ring bit Quy ch vay vn gia cc t chc tn dng ban hnh km theo Quyt nh 1310/2001/ Q NHNN ngy 15/1-/2001. Vic huy ng vn ca cc t chc tn dng vi nhau v vi khch hng c iu chnh bng hai quy ch khc bit v Ngnhng cho cc TCTD khc vay ngoi mc ch kinh doanh cn gp phn iu ha vn trn th trng tin t, gip ngun vn c lu thng d dng hn t ni tha vn sang ni thiu vn,gip cho cc TCTD iu ha, phn phi vn tng cng kh nng thanh ton, m bo an ton v hiu qu cho hot ng ca tng TCTD cng nhng cho ton b h thng tn dng.Ngoi vic vay v cho vay, cc NH cng c th huy ng vn di hnh thc nhn tin gi ca nhau vi cc quy nh c th ca NHNN theo tng giai on.b/ Gia cc TCTD vi NHNNHuy ng vn bng hnh thc vay vn ca ngn hng nh nc l mt hnh thc huy ng c bit ca cc t chc tn dng.Trong trng hp vn vay ca cc TCTD khc khng p ng nhu cu v vn th cc TCTD s i vay ca NHNN. Hot ng cp tn dng ca NHNN l mt cng c thc hin chnh sch tin t nhm kim sot tin cung ng trong h thng kinh t qua cc TCTD, c bit l NH. NH nh nc lun ng vai tr l ngi cho vay cui cng khi cc NHTM kh khn v ti chnh. Ni dung php lut iu chnh hot ng ny c quy nh trong nhiu vn bn php lut khc nhau, trong vn bn c gi tr php l cao nht l Lut Ngn Hng Nh Nc 1997 ti iu 30 v Lut cc t chc tn dng 1997 ti iu 48, Q 1452/2003 Q-NHNN v vic ban hnh quy ch cho vay c bo m bng bng cm c giy t c gi ca ngn hng nh nc Vit Nam i vi cc t chc tn dng. Cc vn bn ny tp trung quy nh cc chi tit ni dung ca cc hnh thc ti cp vn ca Ngn Hng Nh Nc cho cc t chc tn dng vay theo h s tn dng; cho vay c bo m bng cm c thng phiu v cc giy t c gi khc. Li sut cho vay cm c l li sut ti cp vn m NHNN p dng trong tng thi k vi mc cho vay i a khng vt qu gi tr giy t c gi lm m bo.Thi hn cho vay l di 12 thng, ch yu tha mn nhu cu thanh ton ca cc TCTD .Tuy nhin ty trng hp c bit, NHNN c th gia hn khon vay cm c trn c s ngh ca TCTD v l do gia hn ph hp vi nh hng iu hnh chnh sch tin t ca NHNN.Ngoi ra NHNN cng c chnh sch h tr cho cc TCTD nc ngoi vay bng ngoi t vi tng trng hp c th.II. Thc trng hot ng ca cc TCTD trn th trng lin NH giai on 2008-2013Nhn chung, trong nhng nm gn y li sut lin ngn hng c nhiu bin ng, ln xung tht thng.Nm 2008 , th trng lin ngn hng trong nc tri qua nhng bin ng mnh.u nm 2008, li sut VN trn th trng tng cao, c nhng thi im ln ti 30%/nm v cc NHTM phi u thu li sut khon vay k hn 1-2 tun t NHNN. Vo ngy 19/2/2008 li sut t k lc 43%/nm vi tnh trng cng thng v ng ni t ang mc rt cao khi nhiu NH cn tin m bo tnh hanh khon v thc hin cc ngha v ti chnh vi nh nc. Gia nm th trng dn i vo n nh, khng cn tnh trng bin ng li sut qu cao do nh nc thc hin mt s cng c iu hnh chnh sch tin t khin cung cu vn n nh hn. Cc thng sau li sut u gim hu ht cc k hn. Cui nm 2008 li sut gim mnh hu ht cc k hn so vi cc thng trc , cao nht l 13%/nm vi k hn 6 thng, cc k hn khc li sut dao ng t 7 % - 11.7%/nm.u nm 2009 li sut lin ngn hng c xu hng tng nhng k hn ngn v gim nhng k hn di hn. Nm 2009 c nh gi l tng trng tn dng kh cao trong nm nn nhiu ngn hng buc phi hn ch cho vay vo cui nm khi "room tn dng" gn ht. Li sut trn th trng lin ngn hng v th t mc cao nht trong nm, 10,71%/nm vo gia thng 12/2009.
Li sut trn th trng lin ngn hng nm 2009
Nm 2010 xut hin t tng mnh vo thng 9 ca li sut lin ngn hng, li sut cho vay cao nht ln ti 18%/nm. Tng doanh s giao dch trn th trng trong tun u thng 9 t hn 147 nghn t VN. Cc giao dch ch yu pht sinh i vi cc k hn ngn ( qua m, 1 tun v 2 tun) trong doanh s qua m chim gn 40% tng doanh s giao dch c tun.Li sut tip tc tng vo thi im cui nm, c bit l vi nhng k hn ngn.
u nm 2011 li sut giao dch trn th trng lin NH li c du hiu gim tr li vi mc gim ln nht k hn qua m. Sau mt thi gian h nhit v tng tr li, li sut qua m va c cng b gim ti 2.47%. Tuy nhin, gia v cui nm c nhiu thi im xut hin cc giao dch cho vay, gi tin lin ngn hng vi li sut cao bt thng. Thng 3/2011 c giao dch vi li sut 23%/nm cn thng 10 ghi nhn giao dch vi li sut 30%/nm. Theo ghi nhn ca Kim ton nh nc, li sut cc NH cho nhau vay lin tc tng t thng 3 n thng 11, c bit c thi im li sut ln ti 37.5%/nm trong thng 11. Thc trng ny ch yu do cc NHTM nh ang b thiu ht thanh khon tm thi.Li sut cao khin cc NH nh khng vay c nh chp nhn huy ng vn trong dn c lm cho cuc ua li sut c y ln cao, gy nh hng xu n nn kinh t. Ngoi ra, Ngn hng trnh b thua thit nn li sut cho vay i vi cc doanh nghip cng c y ln cao.Ti thi im ny , li sut huy ng trn th trng dn c ti a l 14%/nm theo quy nh ca NHNN. Vi li sut cao, doanh nghip kh c th thc hin c ngha v thanh ton v nhng khon n b xp vo nhm n xu ngy cng gia tng.
Th trng lin NH thay i mt cch r rt trong nm 2012, khi lng hot ng gim ng k do tin gi ca KH tng lm cho NH bt ph thuc vo cc ngun vn trn th trng lin NH. Nhn t gp phn lm gim hot ng trn th trng lin NH l s ra i ca thng t 21/2012/TT NHNN , quy nh rng cc TCTD ch c th i vay trn th trng lin NH nu nh h khng c khon vay lin NH no qu hn trn 10 ngy.
Din bin li sut lin NH nm 2012Nhn vo biu , ta c th thy th trng giao dch lin ngn hng trong giai on ny kh bnh lng, li sut gia nm so vi u nm gim mnh, v quanh mc 1.5 2.5%/nm vi k hn t qua m n 1 tun, 4-6.5%/nm i vi k hn t 2 tun 1 thng. Doanh s giao dch bnh qun thp, doanh s cc k hn ngn di 1 thng chim phn ln trong tng doanh s cho thy thanh khon ca h thng ang ci thin.iu ny l do Ngn hng nh nc ang lp li trt t v k cng trn th trng lin ngn hng thng qua thng t 21, do thc t hin nay n xu ngoi pht sinh trong quan h vay mn gia NHTM v DN th cn pht sinh gia tn dng cc NH vi nhau, lm ch tc dng vn trn th trng tin t, gy thiu ht thanh khon trong ngn hng. Giao dch lin ngn hng trc vo sau thng t 21
Ngoi ra, thng t 21 cn quy nh cc Ngn hng ch c php cho vay v vay ln nhau vi thi hn di 1 nm, khng c gi v nhn tin gi ca nhau tr khi tin gi phc v mc ch thanh ton.Trc khi thng t c hiu lc, ngoi chc nng cho vay, cc Ngn hng cn gi tin ln nhau vi s lng rt ln, ln n hng trm t ng, v lng tin gi tnh n t9/2012 tng 25,7% so vi cng k nm ngoi.
Tin gi ny khng ch p ng thanh ton ln nhau m cn c tin gi c k hn di. iu ny cho thy, cc NHTM ln khng n lc y tn dng ra nn kinh t m ch chm chm mang tin i gi cc t chc tn dng khc kim li. Vn chy t NH tha vn sang NH thiu vn,chy lng vng trong h thng NH ch khng chy vo sn xut, chy vo nn kinh t nh mc tiu ca Chnh ph. Cch gi v cho vay kiu ny thng mang danh ngha h tr thanh khon nhng thc ra l hng li sut cao. Thng t 21 v c bn t c nhng thnh cng nht nh khi gip NHNN pht huy vai tr ca mnh trong vic sp xp li hot ng th trng lin ngn hng sau mt thi gian di bung lng. Vi quy nh ny, mt s TCTD yu km khng th b sung thanh khon bng hnh thc nhn tin gi trong iu kin khng th p ng c cc yu cu vay vn l din v buc phi ti c cu bng vic st nhp, hp nht vi cc TCTD khc theo yu cu ca NHNN. Trt t trn th trng lin ngn hng c lp li v c tr v chc nng chnh ca n l iu chnh vn ngn hn h tr thanh khon thay v mc nh kinh doanh vn, nh tn dng cng tng trng hn v li sut cho vay vi nn kinh t cng h nhit hn.Sau 4 thng trin khai Thng t 21, th trng lin ngn hng tr li qu o v kh n nh, cc TCTD yu km c ti c cu. V vy NHNN ban hnh thng t 01 v 1/2013 ni lng quy nh, cho php cc TCTD c thc hin cc hot ng gi tin, nhn tin gi c k hn ti a l 3 thng ti cc TCTD khc. Vic ny gip cho nhiu NH c th kinh doanh vn d dng hn v cc TCTD khc c nhu cu thanh khon tm thi cng d dng c p ng m khng cn phi nh s h tr ca NHNN. Qua bo co hp nht 6 thng u nm ca mt s ngn hng thng mi, ta c th thy c tnh hnh gi tin nhn tin gi cng nh cho vay i vay trn th trng lin ngn hng. C th thy, Ngn hng Thng mi C phn Ngoi thng (Vietcombank) vn lun ng u trong vic cung ng vn vay cho cc ngn hng khc.
Tnh hnh tin gi/vay v cho vay ca mt s NH ln 6 thng u 2013
V li sut lin ngn hng, trong 2 qu u nm 2013, li sut bnh qun gim mnh hu ht cc k hn: Li sut giao dch bnh qun qua m ri xung mc rt thp. Tnh n thi im 19/6, li sut qua m trung bnh trong thng 6 ch l 1%/nm. Cc k hn t 1 tun n 3 thng, li sut dao ng t 1,32% i vi k hn n 5,06% i vi k hn 3 thng.
Ngun: Website Ngn hng Nh nc Vit Nam
Cui thng 7/2013, li sut lin ngn hng tng mnh tr li do li sut trn th trng huy ng vn t ngi dn lin tc gim khin cc Ngn hng thng mi phi vo th trng lin ngn hng, iu ny chng t mt s ngn hng ang cn thanh khon gp. Li sut qua m ang t 1% tng ln hn 5% vi k hn qua m. Tuy nhin, n cui thng 8, u thng 9/2013 li sut lin ngn hng li tip tc gim, c bit l li sut qua m lin ngn hng. Khng ch c li sut lin ngn hng gim m doanh s giao dch trn th trng lin ngn hng cng gim. Theo s liu ca Ngn hng Nh nc, so vi 6 thng u nm 2012, doanh s giao dch v khi lng giao dch trong ngy 6 thng u nm 2013 ch t 1.665.019 t ng, tng ng vi mc giao dch bnh qun l 14.472 t ng/ngy, cha bng doanh s giao dch cng k nm ngoi (tng ng ln lt l 3.597.115 t ng v l 29.948 t ng/ngy). Vic vay vn din ra ch yu l t cc giao dch k hn di 1 thng (giao dch qua m, k hn 1 tun v k hn 2 tun).C th, t ngy 3/9 n ngy 6/9/2013, k hn qua m v mt tun chim 67% tng doanh s giao dch bng VND. Cng trong tun , c ti 55% tng doanh s giao dch k hn qua m c thc hin bng USD. Li sut lin ngn hng hu ht u gim i vi c giao dch bng VND ln USD trong tun.
Ngun: Website Website Ngn hng Nh nc Vit Nam
D n trn th trng lin ngn hng cng ang gim mnh, tnh n thi im ngy 19/6/2013, d n trn th trng lin ngn hng l 179.091 t ng, gim 23.230 t ng so vi cui nm 2012 v gim 98.062 t ng so vi cng k nm 2012.Li sut,doanh s giao dch v d n trn th trng lin ngn hng u gim ni chung cho thy thanh khon ca h thng ngn hng ang tng i di do. Tm li, th trng tin t lin ngn hng ang giai on trm lng nht k t u nm 2013 vi ngun cung di do v nhu cu hn ch. Li sut ang duy tr mc thp, nhng thc t l nhiu ngn hng nh vn khng vay c vn trn th trng ny m vn phi huy ng t ngi dn vi mc li sut cao hn, hoc phi tip cn vn t pha Ngn hng Nh Nc. V khng th vay c trn th trng ny nn cc Ngn hng phi huy ng vn trn th trng dn c vi li sut cao v to nn s chnh lch ln v li sut huy ng nh hin nay.Theo cc chuyn gia ngn hng, l do l v cc ngn hng nh khng to ra c lng tin vi cc ngn hng ln. Cho vay c khi kh thu hi, vn vay rt c th bin thnh n xu, chnh v vy m nhiu ngn hng tha vn nhng nht quyt khng y ra th trng lin ngn hng, khng mnh dn cho vay ln nhau. Hn na, do tin gi ca khch hng tng, nn cc ngn hng gim dn s ph thuc vo th trng lin ngn hng.S khng n nh ca iu kin kinh t v cc hot ng mua bn, sp nhp ca cc ngn hng si ng cng khin cc nh bng ln t ra thn trng hn trong vic cho ngn hng nh vay vn qua th trng lin ngn hng, nn lm gim ton b hot ng trn th trng lin ngn hng. III Kt lun.Th trng lin Ngn hng Vit Nam sau gn 20 nm hot ng c nhng bc tin ng k v s lng thnh vin tham gia cng nh doanh s giao dch, ngy cng ng vai tr quan trng trn th trng tin t Vit Nam.Thi gian qua th trng c nhiu thay i ln v lin tc, gy nn nhng nh hng khng nh n th trng ti chnh ni chung, c bit l s bin ng ca li sut lin Ngn hng c y ln cao k lc trong cc nm 2008, 2011. Tuy nhin th trng hin nay ang trong giai on kh trm lng do nhiu nguyn nhn nh s bt n ca nn kinh t, s thiu tin tng ln nhau gia cc Ngn hng, vn n xu iu ny chng t th trng tin t lin ngn hng Vit Nam cn km pht trin, lng tin v s tn nhim ln nhau gia cc ngn hng vn cha thc s c ch xy dng, trong khi y chnh l mt trong nhng yu t quan trng trong giao dch lin ngn hng ni ring, v trong tt c cc giao dch thng mi ni chung.Tuy nhin,th trng lin ngn hng c cng c ngy cng cht ch hn thng qua s kim sot ca ngn hng Nh nc thng qua cc chnh sch tin t. Cng vi , qu trnh hon thin hnh lang php l ca hot ng cho vay lin ngn hng ang dn c hon thin, to mi trng tt th trng lin ngn hng Vit Nam cng nh th trng tin t c th pht trin mnh hn.
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