SBV Issued Circular on Orders and Procedures for Banking Supervision
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
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
Previous Article
DNB Issues Banking Newsletter for November 2017Related Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
