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    SBV Issues Bad Debt Resolution and Plan to Strengthen Cybersecurity

    March 07, 2022

    The State Bank of Vietnam (SBV) issued a draft resolution on bad debt and the Decision No. 178/QD-NHNN outlining the plan on application of information technology, the development of the Digital Government, and ensuring cybersecurity.

    Below are key highlights of the aforementioned developments:

    • The draft resolution on bad debt proposes extending the time limit for application of Resolution No. 42/2017/QH14 on handling bad debt settlement of credit institutions until August 15, 2025. Along with the draft resolution on bad debt, SBV has published an impact assessment report and a summary report on the draft resolution. 
    • The overall purpose of the plan set out in Decision No. 178/QD-NHNN is to complete the legal basis to create a favorable environment for the comprehensive application of information technology and gradually standardize the information technology infrastructure of the banking sector. The plan also aims to gradually improve the professional and modern cybersecurity platform, proactively detect and timely handle cybersecurity incidents, ensure information safety and security to serve SBV's professional activities well, and support the monitoring and response of information security incidents in the banking sector. This decision takes effect from the date of signing.

     

    Related Links (in Vietnamese)

     

    Keywords: Asia Pacific, Vietnam, Banking, NPLS, Credit Risk, Fintech, Regtech, Cyber Risk, Bad Debt, SBV

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