Featured Product

    SBV Sets Out Key Tasks to be Implemented for Second Half of 2020

    August 18, 2020

    The Governor of SBV, Le Minh Hung, issued Document No. 5596/NHNN-VP to SBV entities, credit institutions, and the foreign bank branches on the implementation of the tasks for the last six months of 2020. These tasks include managing the monetary and credit policies closely to make timely forecast and assessments and supporting the businesses and people to overcome difficulties amid COVID-19 pandemic. In addition, SBV announced that Vietcombank has implemented initiatives to apply the internal capital adequacy assessment process (ICAAP) of Pillar 2 since July 2020.

    The Banking Inspection and Supervision Agency of SBV held a preliminary conference on the work results of the Agency and key tasks for 2020. At the conference, the Deputy Governor of SBV delivered a speech requesting the Agency to focus on implementation of tasks issued in Document No. 5596/NHNN-VP. The SBV Governor has requested the banking industry to focus on implementing the key tasks in the last six months of 2020, including the following:

    • To closely monitor and update official information about any new developments of the COVID-19 pandemic to implement all measures to contain the outbreak; to proactively formulate and apply the appropriate response scenarios, ensuring safe and smooth banking operations, especially the information technology and payment systems of SBV.
    • To finalize the amendment and supplementation of Circular No. 01/2020/TT-NHNN in accordance with the practical situations to create more favorable conditions for businesses and credit institutions to resolve difficulties and recover the economic growth. Circular No. 01/2020/TT-NHNN directs credit institutions and foreign bank branches to restructure the repayment periods, waive and reduce the interest and fees, and maintain the debt classification to support the customers affected by COVID-19 pandemic.
    • To continue to promote the communication on credit programs and policies and closely coordinate with the ministries, agencies, and local authorities to identify any violations in consumer lending activities of the credit institutions.
    • To continue closely monitoring and directing the credit institutions to implement the restructuring plan in association with resolving bad debts in the 2016-2020 period.
    • To coordinate with the relevant ministries and agencies to implement the procedures for building a roadmap to increase the capital for state-owned commercial banks in the 2021-2026 period, including an increase of capital from the state budget to be submitted to the competent authorities for approval.
    • To finalize and submit to the government, for promulgation, a Decree on Fintech Regulatory Sandbox.


    Related Links (in English and Vietnamese)

    Keywords: Asia Pacific, Vietnam, Banking, COVID-19, Fintech, Regulatory Sandbox, Credit Risk, Operational Risk, Basel, ICAAP, Pillar 2, SBV

    Featured Experts
    Related Articles

    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).

    February 28, 2024 WebPage Regulatory News

    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.

    February 28, 2024 WebPage Regulatory News

    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.

    February 26, 2024 WebPage Regulatory News

    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.

    February 23, 2024 WebPage Regulatory News

    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.

    February 23, 2024 WebPage Regulatory News

    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.

    January 25, 2024 WebPage Regulatory News

    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.

    January 24, 2024 WebPage Regulatory News

    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.

    January 24, 2024 WebPage Regulatory News

    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

    December 19, 2023 WebPage Regulatory News

    Industry Agency Expects Considerable Uptake for Swiss Climate Scores

    The Swiss Federal Council recently decided to further develop the Swiss Climate Scores, which it had first launched in June 2022.

    December 18, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8952