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
In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.
The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.
The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.
The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.
The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.
The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.