SBV Offers Update on NPL Resolution, Participates in First BIS Meeting
The updates published by SBV highlight that the Deputy Governor Nguyen Thi Hong emphasized that the non-performing loans (NPLs) in the country have been resolved quite successfully, after three years of the implementation of Resolution No.42. Mr. Hong noted that the obstacles and challenges in the process of resolving NPLs have been addressed, though challenges are likely given the uncertainty posed by COVID-19 pandemic. The amount of bad debts sold to Vietnam Asset Management Company (VAMC) under the form of special bonds reached VND 69.5 trillion. The Deputy Governor also attended a BIS meeting on big data in central banks in November 2020. This was the first official activity of BIS that SBV had attended as a BIS member. The meeting was attended by Governors from 63 BIS member central banks or monetary management authorities.
At the BIS meeting, views were shared on the experience and challenges facing the process of applying big data in central banking operations. It was highlighted that the application of big data requires the establishment of fundamental IT infrastructure and human capacity training on the organization, management, and analysis of specific non-structural data arising from the socio-economic activities. The participants agreed to enhance the cooperation and coordination among the central banks or monetary management authorities in the application of big data, especially in the development of the databases and the establishment of the foundations and standards for data governance and management. The SBV Deputy Governor stated that the theme of the meeting on big data and its application in the central banking operations was helpful for central banks or monetary management authorities in the context of the wide expansion of big data and artificial intelligence in all areas, including in finance and banking. The meeting was chaired by Jens Weidmann, the President of Deutsche Bundesbank and Chairman of the Board of BIS.
Related Links
Keywords: Asia Pacific, Vietnam, Banking, Big Data, Artificial Intelligence, Fintech, NPL, Credit Risk, Suptech, BIS, SBV
Previous Article
FINMA Consults on Climate Risk Disclosures for Banks and InsurersRelated Articles
EBA Publishes Standards on Disclosure of Investment Policy Under IFR
The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).
EBA Updates Filing Rules for Supervisory Reporting
The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.
ECB Amends Guideline on Procedures for Collection of AnaCredit Data
The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.
ECB Amends Guideline on Procedures for Collection of AnaCredit Data
The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.
APRA Finalizes Guidance for New Prudential Standard on Remuneration
The Australian Prudential Regulation Authority (APRA) published the prudential practice guide CPG 511 to assist banks, insurers, and superannuation licensees in meeting requirements of CPS 511, the new prudential standard on remuneration.
OCC Updated LIBOR Self-Assessment Tool for Banks
The Office of the Comptroller of the Currency (OCC) published a bulletin that provides an updated self-assessment tool for banks to evaluate their preparedness for cessation of the London Interbank Offered Rate (LIBOR).
TCFD Updates Guidance for Financial Disclosures on Climate Risk
The Financial Stability Board (FSB) published a report that examines the progress made toward disclosures aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
BCBS Report Examines Progress on Adoption of Basel III Framework
The Basel Committee on Banking Supervision (BCBS) published the progress report on adoption of the Basel III regulatory framework in member jurisdictions.
ACPR Implements Updates Related to DPM Version 3.1
The French Prudential Supervisory Authority (ACPR) has implemented, in its information system, updates linked to the Data Point Model (DPM) version 3.1.
EBA Note Examines Transition Risks of Benchmark Rates
The European Banking Authority (EBA) published a thematic note that aims to identify and raise awareness of the transition risks of benchmark rates, as the London Interbank Offered Rate (LIBOR) and the Euro Overnight Index Average (EONIA) are close to being phased out.
