SBV Circular on Provisions on Special Control for Credit Institutions
SBV published a circular on provisions for special control for credit institutions. This circular takes effect from October 01, 2019 and replaces the Governor of the State Bank's Circular No. 07/2013/TT-NHNN of March 14, 2013, on special control for credit institutions. The circular is applicable to credit institutions (excluding policy banks) and organizations and individuals related to special control of credit institutions. The key topics covered in the circular include cases where a credit institution is at risk of insolvency; deciding competence in special control of the credit institution; extension and termination of special control; components, structure, operation mechanism, tasks, and powers of the special control board; and responsibilities of Banking Inspection and Supervision Agency. The circular also covers responsibilities of the State Bank branch and responsibilities of credit institutions under special control, owners, capital contributing members, shareholders, Board of Directors, Board of Members, Board of Controllers, and General Director (Director) of the group.
Related Link (in Vietnamese): Circular
Effective Date: October 01, 2019
Keywords: Asia Pacific, Vietnam, Banking, Special Control, Capital Adequacy, SBV
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Previous Article
IMF Publishes Reports Under 2019 Article IV Consultation with RussiaRelated Articles
EBA Updates List of Validation Rules for Reporting by Banks
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS Advocates Environmental Risk Analysis for Financial Sector
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS Issues Guidelines to Promote Senior Management Accountability
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB Updates List of Supervised Entities in EU in September 2020
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management
OSFI published the key findings of a study on third-party risk management.
FSB Extends Implementation Timeline for Framework on SFTs
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.
