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August 03, 2017

SBV issued Circular No.08/2017/TT-NHNN on orders and procedures for banking supervision. The circular applies to inspectors and supervisors of the banking sector; SBV municipal and provincial branches under the central government; credit institutions and foreign bank branches; and agencies, organizations, and individuals related to the supervision of credit institutions and foreign bank branches. The circular will take effect from December 01, 2017.

The circular includes four Chapters and 25 Articles. Chapter 1 includes five articles stating general provisions stipulating governing scope; interpretation; principles of banking supervision; and substances, orders, and procedures for banking supervision. Chapter 2 of the circular includes 14 articles and states the specific provisions stipulating orders and procedures for banking supervision. It further consists of legal framework regulations and steps of banking supervision such as collecting, filing, processing, and storing information, data, and documents; analyzing, assessing supervised entities under two forms of micro- and macro-prudential supervision; contacting supervised entities; supervising after inspection; and recommending handling measures related to banking supervision. Chapter 3 notes the responsibilities of institutions concerning with banking supervision and chapter 4 stipulates effectiveness and implementation responsibility.

 

Related Links

Press Release (Docx)

Circular No.08/2017/TT-NHNN (PDF in Vietnamese)

Effective Date: December 01, 2017

Keywords: Asia Pacific, Vietnam, Banking, Banking Supervision, Orders and Procedures, Circular, SBV

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