SBV on Legal Framework and Roadmap for Implementing Basel II
SBV published updated information on the legal framework for implementing Basel II standard for banks in Vietnam and a roadmap for implementation of this standard. The Governor of SBV signed the Official Letter No. 1601/NHNN-TTGSNH approving the roadmap for Basel II standard. By 2020, at least 12-15 commercial banks will have successfully applied Basel II.
The Governor of SBV, on December 30, 2016, had signed the Circular No. 41/2016/TT-NHNN on capital adequacy ratios for banks and foreign bank branches (Circular 41) according to Basel II. This was considered the first step with respect to the implementation of Basel II in accordance with the schedule approved by the Governor of SBV to implement Pillar 1 and Pillar 3 of Basel II. To further complete the legal framework for the implementation of Basel II Standard in Vietnam, on May 18, 2018, SBV had issued Circular No. 13/2018/TT-NHNN, which covers implementation of the second pillar of Basel II and provides provisions related to internal control for commercial banks and foreign bank branches.
Related Link: Press Release
Keywords: Asia Pacific, Vietnam, Banking, Basel II, Legal Framework, Roadmap, Pillar 1, Pillar 2, Pillar 3, Capital Adequacy, SBV
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