Featured Product

    SBV Approves National Strategy for Banks, Issues Other Updates

    November 04, 2022

    The State Bank of Vietnam (SBV) approved the plan of the banking sector to implement National Strategy for Digital Economy and Digital Society Development to 2025 with orientation to 2030 and published a circular on special loans for specially controlled credit institutions. SBV is also requesting opinion on amending and supplementing a number of articles of the Law on credit institutions as well as on the draft circular on the operation of credit institutions that are cooperatives.

    The key highlights of the aforementioned updates follow:

    • SBV issued Decision No 1887/QD-NHNN which approves the plan to organize the synchronous and effective implementation of the tasks of the banking sector assigned in the National Strategy for Digital Economy and Digital Society Development to 2025. The key tasks include developing digital payments towards universal financial inclusion, promoting cashless payments, improving institutions, develop and use digital platforms, develop digital data, ensuring information security and network security, developing digital skills, digital citizens and digital culture, developing digital enterprises, and other related tasks. The Decision takes effect from the date of signing.
    • SBV published Circular No 13/2022/TT-NHNN which amends and supplements a number of articles of Circular No 08/2021/TT-NHNN of July 06, 2021 stipulating special loans for specially controlled credit institutions. The Circular No 13/2022/TT-NHNN takes effect from October 28, 2022. For special loans arising from October 27, 2021 and outstanding until the effective date of this Circular, on the basis of applying the conversion rate of collateral specified in this Circular, credit institutions may use collateral at the State Bank of Vietnam to continue special loans, ensuring that the total conversion value of eligible secured assets is not lower than the total amount of special loans.
    • SBV is requesting opinion from organizations and individuals on the dossiers of application for the development of a Law amending and supplementing a number of articles of the Law on credit institutions. The Law on credit institutions, along with detailed guiding documents and regulations has created a legal basis for the inspection and supervision of credit institutions. The Law provides for the establishment, organization, operation, special control, governance, reorganization, dissolution of credit institutions and the establishment, organization and operation of foreign bank branches, representative offices of foreign credit institutions, organizations other than foreign institutions having banking activities.
    • SBV is requesting opinion from organizations and individuals on the draft circular on the classification of assets, the level of deduction, the method of setting up risk provisions and the use of provisions to handle risks in the operation of credit institutions that are cooperatives. The circular applies to credit institutions being cooperatives, including cooperative banks and people’s credit fund.

     

    Related Links (in Vietnamese)

     

    Keywords: Asia Pacific, Vietnam, Banking, Lending, Credit Risk, Regtech, Cooperative Banks, National Strategy, Digital Ecosystem, Basel, SBV

    Featured Experts
    Related Articles
    News

    ECB Finds Banks Unprepared for Pillar 3 Climate Risk Disclosures

    The European Central Bank (ECB) published results of the 2022 supervisory assessment of climate-related and environmental risk disclosures among significant institutions (103) and a selected number of less significant institutions (28).

    April 21, 2023 WebPage Regulatory News
    News

    NCUA Assesses Credit Union Exposure to Climate-Related Physical Risks

    The National Credit Union Administration (NCUA) released a Research Note that examines the exposure of credit unions to climate-related physical risks. In a related development

    April 21, 2023 WebPage Regulatory News
    News

    EBA Issues Multiple Regulatory and Reporting Updates for Banks

    The European Banking Authority (EBA) is seeking comments, until July 31, 2023, on the draft Guidelines on the proposed common approach to the resubmission of historical data under the EBA reporting framework.

    April 21, 2023 WebPage Regulatory News
    News

    EC Adopts Regulation on Own Funds, Issues Other Updates

    The European Commission adopted Delegated Regulations on own funds and eligible liabilities, on requirements for the internal methodology under the internal default risk model

    April 20, 2023 WebPage Regulatory News
    News

    CDP Platform to Report Plastic-Related Impact, Issues Other Updates

    The Carbon Disclosure Project (CDP) announced that its global environmental disclosure platform has enabled reporting on plastic-related impact for nearly 7,000 companies worldwide

    April 19, 2023 WebPage Regulatory News
    News

    IASB to Enhance Reporting of Climate Risks, Proposes IFRS 9 Amendments

    The International Accounting Standards Board (IASB) updated its work plan to enhance the reporting of climate-related risks in the financial statements,

    April 19, 2023 WebPage Regulatory News
    News

    BIS Addresses Data Gaps and Macro-Prudential Policy for Climate Risks

    The Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) published a brief paper that examines challenges associated with the use of macro-prudential policies to address climate-related financial risks.

    April 17, 2023 WebPage Regulatory News
    News

    FCA Sets Out Business Plan, Launches TechSprint on Greenwashing

    The Financial Conduct Authority (FCA) published its business plan for 2023-24. The plan sets out details of the work planned for the next 12 months to achieve better outcomes for consumers and markets

    April 17, 2023 WebPage Regulatory News
    News

    UK Committee Sets Out Recommendations for Next Phase of Open Banking

    The Joint Regulatory Oversight Committee (JROC), comprising the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) as co-chairs and the HM Treasury and the Competition and Markets Authority (CMA) as members

    April 17, 2023 WebPage Regulatory News
    News

    ECB Publishes Multiple Regulatory Updates for Banking Institutions

    The European Central Bank (ECB) published the results of the 2022 climate risk stress test of the Eurosystem balance sheet,

    April 17, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8873