SBV signed a Memorandum of Understanding (MoU) with representatives of the Asian Development Bank (ADB) and the Australian Department of Foreign Affairs and Trade (DFAT), aiming at comprehensive finance and financial-sector development. The MoU will create a framework to promote cooperation in the field of finance and banking and to enhance technical assistance on developing financial markets.
The MoU is important for promoting the cooperation among SBV, DFAT, and ADB, as a basis for implementing practical technical support to the banking industry and paving the way for increased enhancing cooperation in the near future. The collaborative activities will be implemented through an additional USD 1.2 million grant of DFAT as part of the technical assistance project managed by ADB. In the coming time, the technical assistance project will help increase access to wholesale loans for MFIs and review the legal framework on micro-finance. Also, the project will help in continuing the ADB support for fintech, including the testing legal framework and legal framework for fintech; designing and building a comprehensive financial website; and promoting the development of the corporate bond market through the establishment of a national credit rating agency.
Related Link (in Vietnamese): Press Release
Keywords: Asia Pacific, Vietnam, Banking, Australia, Fintech, ADB, Credit Rating Agency, Corporate Bond Market, SBV
Previous ArticleECB Publishes Paper on Its Macro-Prudential Policy Framework
HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.
EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.
BoE has set out a three-phased plan to transform data collection from the UK financial sector over the next decade.
BIS recently made a couple of announcements with respect to the planned and ongoing work in the area of financial technology.
ESRB updated the list of national macro-prudential measures applied by each member state in the European Economic Area.
BoE has set out results of a survey on the impact of COVID-19 events on the use of machine learning and data science.
In response to a request from the European Council and Parliament, ECB published an opinion on the proposed regulation on markets in crypto-assets.
APRA announced the updated aggregate amounts for the 2021 Committed Liquidity Facility (CLF) established between the Reserve Bank of Australia (RBA) and certain locally incorporated authorized deposit-taking institutions that are subject to the Liquidity Coverage Ratio (LCR).
ECB published supervisory Memorandums of Understanding (MoUs) with UK as well as other European and non-European authorities.
EIOPA identified business model sustainability and adequate product design as the two EU-wide strategic supervisory priorities.