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
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