The State Bank of Vietnam (SBV) announced promulgation of the 2023 plan of the banking sector and establishment of a Steering Committee to restructure the bad debt settlement system of credit institutions and issued a Decree on the implementation of interest rate support loans. The Decree No. 31/2022/ND-CP, dated March 29, 2023, for credit institutions is aimed to continue promoting the implementation of the policy of interest rate support from the state budget for loans of enterprises, cooperatives, and business households. SBV requires credit institutions to continue to identify the implementation of interest rate support loans under Decree No. 31/2022/ND-CP as a key task that needs to be urgently and drastically implemented with spirit and responsibility. Additionally, SBV seeks views on a draft circular that amends and supplements a number of articles and suspends the implementation of Clause 11 Article 4 of Circular No. 16/2021/TT-NHNN (dated November 10, 2021) with respect to regulations on the purchase and sale of corporate bonds by credit institutions.
Keywords: Asia Pacific, Vietnam, Banking, Credit Risk, Interest Rate Risk, Bad Debt, Digital Transformation, Debt Restructuring, Lending, Corporate Bonds, SBV
Previous ArticleDNB Publishes Guide on Climate and Environmental Risk Management
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.
At the global level, supervisory efforts are increasingly focused on addressing climate risks via better quality data and innovative use of technologies such as generative artificial intelligence (AI) and blockchain.
The finalization of the IFRS sustainability disclosure standards in late June 2023 has brought to the forefront the themes of the harmonization of sustainability disclosures
The European Banking Authority (EBA) recently issued several regulatory publications impacting the banking sector.
The Basel Committee on Banking Supervision (BCBS) launched a consultation on revisions to the core principles for effective banking supervision, with the comment period ending on October 06, 2023.
The U.S. banking agencies (FDIC, FED, and OCC) recently proposed rules implementing the final Basel III reforms, also known as the Basel III Endgame.
The Financial Stability Board (FSB) recently published the second annual progress report on the July 2021 roadmap to address climate-related financial risks.
The recognition of climate change as a systemic risk to the global economy has further intensified regulatory and supervisory focus on monitoring of the environmental, social, and governance (ESG) risks.