SBV Amends Circular on NPL and NPL Resolution of VAMC
The Governor of the State Bank of Vietnam (SBV) issued Circular No.09/2017/TT-NHNN to revise and amend the content of Circular No.19/2013/TT-NHNN dated September 6, 2013 on buy, sell non-performing loan (NPL) and NPL resolution of Vietnam Asset Management Company (VAMC). The circular takes effect from August 15, 2017.
The revisions and amendments are in line with stipulations in the Resolution No.42/2017/QH14 by the National Assembly on the pilot program of NPL resolution of credit institutions and in the Decree 61/2017/ND-CP by the Government on appraisal of the reserve price of NPLs, collateral of NPLs and establishment of the Council for auction of NPLs, collateral of NPLs for bad debts and for high value NPLs, and the practical operation of VAMC. Circular 09/2017/TT-NHNN includes three Articles, with the key topics including revising, supplementing the interpretation of terms related to debts and bad debts; revising, supplementing conditions of NPLs shall be bought by VAMC at market price, with the specific requirements; and revising, supplementing regulations relating to principle on selling the purchased NPLs.
Related Links
Effective Date: August 15, 2017
Keywords: Asia Pacific, Vietnam, Banking, NPL Resolution, Circular, SBV
Previous Article
Sabine Lautenschläger of ECB on Proportionality in Bank RegulationRelated Articles
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.
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.
BIS Bulletin Examines Cognitive Limits of Large Language Models
The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.
ECB is Conducting First Cyber Risk Stress Test for Banks
As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.
EBA Continues Momentum Toward Strengthening Prudential Rules for Banks
A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.
EU and UK Agencies Issue Updates on Final Basel III Rules
The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards