The updates published by SBV highlight that the Deputy Governor Nguyen Thi Hong emphasized that the non-performing loans (NPLs) in the country have been resolved quite successfully, after three years of the implementation of Resolution No.42. Mr. Hong noted that the obstacles and challenges in the process of resolving NPLs have been addressed, though challenges are likely given the uncertainty posed by COVID-19 pandemic. The amount of bad debts sold to Vietnam Asset Management Company (VAMC) under the form of special bonds reached VND 69.5 trillion. The Deputy Governor also attended a BIS meeting on big data in central banks in November 2020. This was the first official activity of BIS that SBV had attended as a BIS member. The meeting was attended by Governors from 63 BIS member central banks or monetary management authorities.
At the BIS meeting, views were shared on the experience and challenges facing the process of applying big data in central banking operations. It was highlighted that the application of big data requires the establishment of fundamental IT infrastructure and human capacity training on the organization, management, and analysis of specific non-structural data arising from the socio-economic activities. The participants agreed to enhance the cooperation and coordination among the central banks or monetary management authorities in the application of big data, especially in the development of the databases and the establishment of the foundations and standards for data governance and management. The SBV Deputy Governor stated that the theme of the meeting on big data and its application in the central banking operations was helpful for central banks or monetary management authorities in the context of the wide expansion of big data and artificial intelligence in all areas, including in finance and banking. The meeting was chaired by Jens Weidmann, the President of Deutsche Bundesbank and Chairman of the Board of BIS.
Keywords: Asia Pacific, Vietnam, Banking, Big Data, Artificial Intelligence, Fintech, NPL, Credit Risk, Suptech, BIS, SBV
Previous ArticleFINMA Consults on Climate Risk Disclosures for Banks and Insurers
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.
The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.
The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.
The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.
The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.
The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements.
The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.