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 ArticleFSI Paper Examines Role of Deposit Insurance in Bank Resolution
BoE updated the known issues document for the statistical reporting Forms AS and FV.
EBA updated the report on the implementation of selected COVID-19 policies.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.