SBV Announces Regulatory Updates for Banks
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 Article
DNB Publishes Guide on Climate and Environmental Risk ManagementRelated Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
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).
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.
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.
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.
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.
