Quyết định 1533/QD-NHNN

Decision No. 1533/QD-NHNN dated July 20, 2017, promulgating banking’s action plan to implement Scheme “Restructuring of system of credit institutions associated with settlement of bad debts for the period of 2016 to 2020"

THE STATE BANK OF VIETNAM
 -------

THE SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
---------------

No. 1533/QD-NHNN

Hanoi, July 20, 2017

 

DECISION

PROMULGATING BANKING’S ACTION PLAN TO IMPLEMENT SCHEME “RESTRUCTURING OF SYSTEM OF CREDIT INSTITUTIONS ASSOCIATED WITH SETTLEMENT OF BAD DEBTS FOR THE PERIOD OF 2016 TO 2020"

GOVERNOR OF STATE BANK

Pursuant to the Law on the State bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on credit institutions No. 47/2010/QH12 dated June 6, 2010;

Pursuant to Resolution No. 142/2016/QH13 of National Assembly on plan for economic-social development for the period of 2016 to 2010, Resolution No. 24/2016/QH14 of National Assembly on plan for economic restructuring for the period of 2016 to 2020; Decision No. 339/QD-TTg dated March 19, 2013 of Prime Minister on approval for the master plan for economic restructuring in association with the transformation of the growth model towards enhancing quality, effectiveness and competitiveness for the period of 2013 to 2020;

Pursuant to Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 on functions, tasks, powers and organization structure of the State Bank of Vietnam;

Pursuant to Decision No. 1058/QĐ-TTg dated July 19, 2017 of Prime Minister on approval for Scheme “Restructuring of system of credit institutions associated with settlement of bad debts for the period of 2016 to 2020”;

At the request of the Chief Banking Inspector-Supervisor,

HEREBY DECIDES:

Article 1. Promulgate a banking action plan to implement Scheme “Restructuring of system of credit institutions associated with settlement of bad debts for the period of 2016 to 2020" (hereinafter referred to as action plan) issued herewith.

Article 2. Implementation.

1. The Governor of the State bank of Vietnam shall establish a banking steering board to implement Scheme “Restructuring of system of credit institutions associated with settlement of bad debts for the period of 2016 to 2020" (hereinafter referred to as steering board). The steering board is composed of the Governor of the State bank of Vietnam as the chief of steering board, certain Deputy Governors of the State bank of Vietnam as deputy chiefs of steering board, in which a Deputy Governor shall act as the deputy chief of standing board and heads of related units of the State Bank of Vietnam as members.

2. Tasks, entitlement, and operational regulations of steering committee shall be set forth by the Governor of the State bank of Vietnam.

3. Responsibilities of affiliates of the State bank and credit institutions and branches of foreign banks:

3.1. Within the scope of functions and tasks assigned by the Governor of the State bank of Vietnam, affiliates of the State bank and credit institutions and branches of foreign banks shall perform tasks as specified in the Scheme ““Restructuring of system of credit institutions associated with settlement of bad debts for the period of 2016 to 2020" issued together with Decision No. 1058/QD-TTg dated July 19, 2017 of Prime Minister (hereinafter referred to as Scheme);

3.2. Units in charge that are assigned as mentioned in the action plan issue herewith shall take charge and cooperate with relevant entities to perform the tasks on schedule and effectively;

3.3. Units in charge include affiliates of the State bank, commercial banks of which wholly charter capital is held by the state, commercial banks which more than half of charter capital is held by the state, joint-stock commercial banks, joint venture banks, wholly foreign-owned banks, finance companies and finance leasing companies, cooperatives banks. They shall send quarterly, biannual, or annual reports on progress, achievements, difficulties arising during the restructuring of credit institutions and proposed remedial measures to Bank Supervision and Inspection Agency affiliated to the State bank.

+ First quarter report: to be sent before March 12;

+ First biannual report: to be sent before May 25;

+ Third quarter report: to be sent before Sept 12;

+ Annual report: to be sent before November 25;

3.4. State Bank’s branches of provinces and cities shall cooperate with Bank Supervision and Inspection Agency in directing, supervising closely the restructuring of credit institutions in administrative divisions; and send reports to Bank Supervision and Inspection Agency affiliated to the State Bank of Vietnam as prescribed in Point 3.3 Clause 3 of this Article.

People's credit funds and microfinance institutions shall send quarterly, biannual and annual reports to State Bank’s branches of provinces and cities where they are headquartered.

3.5. Units in charge as mentioned in the action plan shall promptly send reports on difficulties (if any) on an ad-hoc basis to the Governor of the State bank of Vietnam.

3.6. Bank Supervision and Inspection Agency shall monitor, expedite, and send reports on progress, achievements, difficulties arising during the implementation of Scheme and proposed remedial measures to the Governor of the State bank of Vietnam which then forward them to Prime Minister before every July 1 and December 31; and request the Governor of the State bank of Vietnam to send reports on matters arising beyond the authority of the State Bank of Vietnam to the Government and Prime Minister.

Article 3. This Decision comes into force from the day on which it is signed.

Article 4. Chief officers, the Chief Banking Inspector-Supervisor, heads of affiliates of the State bank, Directors of State Bank’s branches of provinces and central-affiliated cities (hereinafter referred to as provinces), Presidents of the Board of Directors, Presidents of the Member assembly and Director General (Director) of credit institutions shall implement this Decision./.

 

 

PP. GOVERNOR
DEPUTY GOVERNOR



Nguyen Kim Anh

 

ACTION PLAN

OF BANKING SECTOR TO IMPLEMENT SCHEME “RESTRUCTURING OF SYSTEM OF CREDIT INSTITUTIONS ASSOCIATED WITH SETTLEMENT OF BAD DEBTS FOR THE PERIOD OF 2016 TO 2020"
(Issued together with Decision No. 1533/QD-NHNN dated July 20, 2017 of Governor of SBV of Vietnam)

Description

Unit in charge

Duration

A. Starting actions 

1. Direct or guide credit institutions to formulate and initiate plans for restructuring associated with settlement of bad debts in conformity with objectives and measures specified in the Scheme of restructuring of system of credit institutions associated with settlement of bad debts for the period of 2016 to 2020 issued together with Decision No. 1058/QD-TTg dated July 19, 2017 of Prime Minister (hereinafter referred to as Scheme);

Bank Supervision and Inspection Agency

2017-2020

2. Make and send a request for establishment of steering board in charge of restructuring of system of credit institutions to Governor of SBV, which then request Prime Minister to issue a responsive decision. The steering board is composed of the Prime Minister as the chief of steering board, a Deputy Prime Minister as deputy chief of steering board, and heads of related units as members, with clear task assignment, timely and effective operational regulations with a view to enhance the process of restructuring and settlement of bad debts of credit institutions in general and financially-poor credit institutions in specific.

Bank Supervision and Inspection Agency

Second quarter – Third quarter of 2017

3. Make and send a request for establishment of steering board to implement the Scheme to Governor of SBV.

Organization and Personnel Department affiliated to SBV

Third quarter/2017

B. Restructuring of commercial banks of which more than half of charter capital is held by the state (hereinafter referred to as SOCBs)

I. SOCBs (excluding commercial banks subject to compulsory purchase)

1. SOCBs shall proactively make and initiate plans for self-consolidation, reorganization of activities and enhancement of competitiveness for solid development of financial capacity, scale, operation, modern management skills and advanced technology according to measures as mentioned in Clause 2, Part I, Section B of Scheme.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by SOCBs

2017-2020

2. Increase charter capital so as to improve and enhance financial capacity, meet requirement for capital adequacy ratio of Basel II by applying the following solutions: (i) Increase charter capital according to the plan approved by the competent authority; (ii) further accelerate issuance of stocks to investors provided that the state still remains the dominant role in SOCBs, in which the state holds at least 65% of the total number of voting shares.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by SOCBs

2017-2020

3. Select strategic shareholders, ensure that at least one foreign strategic investor that has reputation in the market, financial capacity, management experience; make preparations for the prerequisites, proceed to have their stocks listed on the international stock market;

SOCBs

2017-2020

4. Strongly develop electronic distribution channels, enhance the information security in order to increase the customers' access to services, ensuring safety and minimizing risks for customers and the bank itself;

SOCBs

2017-2020

5. Continue to review and consolidate key business activities; execute divestment outside the industry, non-financial and risky industry;

SOCBs

2017-2020

6. Preferentially extend credit to key sectors of the economy namely economic infrastructure, promotion of export, agriculture, rural development, key industries, small- and medium-sized enterprises so as to contribute to the restructuring of the economy;

SOCBs

2017-2020

7. Participate in the restructuring of financially-poor credit institutions according to direction of SBV, including: (i) Assign employees that are suitably qualified and have good moral qualities to engage in the plan for restructuring of financially-weak credit institutions; provide them with certain assistance in terms of finance (lending/depositing money to create operational funds), business (customers, investment opportunities), technology, management and administration skills in compliance with the law, (ii) acquire, receive compulsory transfer, merger and consolidation of financially-weak credit institutions.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by SOCBs

2016-2020

II. Vietnam Bank for Agriculture and Rural Development (Agribank) 

1. Agribank shall restructure comprehensively, actively formulate and implement plans to consolidate and rectify operations through appropriate solutions as prescribed in Clause 2, Part I, Section B of Scheme.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, cooperated by units of State Bank; implemented by Agribank

2017-2020

2. Restructure under the model of universal commercial banks, playing the leading role in agricultural and rural credit;

Agribank

2017-2020

3. Increase charter capital according to the plan approved by the competent authority so as to improve and enhance financial capacity, meet requirement for capital adequacy ratio of Basel II;

Agribank

2017-2020

4. Carry out the steps to carry out equitization at an appropriate time and ensure that the state holds at least 65% of charter capital. Noting that the equitization plan should clearly define individual tasks, develop a roadmap for implementation, expected completion time, responsibilities of specific organizations and individuals.

Agribank

2017-2020

C. Restructuring of joint stock commercial banks (hereinafter referred to as JSCBs)

I. Financially-healthy JSCBs

1. Make and initiate plans for self-consolidation, reorganization of activities and enhancement of competitiveness for solid development of financial capacity, scale, operation, modern management skills and advanced technology according to measures as mentioned in Clause 2, Part I, Section B of Scheme.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by JSCBs

2017-2020

2. Participate in the handling of credit institutions that are financially weak and face liquidity deficit, including: Lending for liquidity purpose to credit institutions that are financially weak and temporarily insolvent, conduct merger and acquisition of financially-weak credit institutions.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by JSCBs

2017-2020

3. Engage in the merger or acquisition of other credit institutions on a voluntary basis into large-scale and better-managed institutions.

JSCBs

2017-2020

II. Financially-weak JSCBs

1. Financially-weak credit institutions must urgently formulate plans on comprehensive restructuring of financial, management and operation aspects according to the appropriate solutions as specified in Clause 2, Part I, Section B of the Scheme. The Governor of SBV shall forward it to the Prime Minister for approval.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by JSCBs

2017-2018

2. Financially-weak credit institutions shall evaluate the implementation of the approved structural plans and propose solutions to deal with problems arising in the implementation of the structural plan (if any) and send reports to SBV.

JSCBs

2017-2020

3. If a financially-weak credit institution is unable to implement the approved plans, the following solutions shall be applied:

3.1. Limit to distribute dividends or profits/No dividend or profit is distributed; strict control of the transfer of shares, equity and assets of financially-weak JSCBs; reduce outstanding credit balance ; limit/stop expanding the scale, network operations;

3.2. Temporarily suspending, suspending, dismissing positions of managers and executives of financially-weak JSCBs;

3.3. Undergo special control as per the law;

3.4. Undergo consolidation, merger and acquisition on a voluntary basis.

3.5. In cases where the JSCB is incapable of recovering, cannot continue operating, or in danger of insolvency resulting in great impacts on the safety and stability of the system of credit institutions, SBV shall request Prime Minister to approve the compulsory transfer of financially-weak JSCB to new appointed credit institution or investor. Where a JSCB cannot be merged or consolidated with a financially-healthy credit institution or not be resold to eligible investors or cannot be transferred compulsorily or is unable to go bankrupt, it shall have its operation narrowed for dissolution or shutdown;

3.6. Encourage foreign investors in general and foreign financial institutions in particular to buy and merge financially-weak Vietnamese JSCBs;

3.7. Apply other solutions in accordance with the market mechanism on the principle of conservatism, ensuring the interests of depositors and maintain the stability and safety of the system.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, cooperated by Departments of SBV according to direction of the Governor of the State Bank, and implemented by JSCBs

2017-2020

D. Restructuring of finance companies and finance leasing companies (hereinafter referred to as non-bank credit institutions - NBCIs)

I. Financially-healthy NBCIs

1. Elaborate and implement the restructuring plans according to certain solutions suited to the particular operation of finance companies and finance leasing companies mentioned in Clause 2, Part I, Section B of the Scheme so as to enhance the capacity of management, financial capacity and competitiveness in the scope of operation in accordance with the law, increasing the transparency of supply of products and services, ensuring the requirements for safety and risk management.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by NBCIs

2017-2020

2. Ensure the level of capital adequacy, balance with the scale of business and compliance with the limits, the rate of ensuring safety in operations of credit institutions according to the provisions of the Law on Credit Institutions, regulations of SBV and regulations of law.

NBCIs

2017-2020

3. Develop business strategies in line with the licensed products and services in order to raise the credit quality, competitiveness and transparency in the supply of products and services.

NBCIs

2017-2020

4. Apply specialized risk management tools appropriate to the products and services provided and the scale of operation.

NBCIs

2017-2020

5. Improve corporate governance.

NBCIs

2017-2020

6. Encourage and enable non-bank credit institutions to merge, contribute capital/buy shares on a voluntary basis to increase their scale of operation and competitiveness.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by NBCIs

2017-2020

7. Engage in the handling of credit institutions that are financially-weak and face liquidity deficit, including: Lending for liquidity support purposes to credit institutions that are financially weak and temporarily insolvent, conduct merger and acquisition of financially-weak credit institutions.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by NBCIs

2017-2020

II. Financially-weak NBCIs

1. Financially-weak NBCIs affiliated to economic groups or state-owned general companies

1.1. Expeditiously formulate a restructuring plan in line with the Prime Minister's instruction and the Group's restructuring plan and submit it to the Governor of SBV for consideration, approval or submit it to competent authorities for approval.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by NBCIs

2017-2020

1.2. Evaluate the implementation of the approved restructured plans and propose solutions to deal with problems arising in the implementation of the restructured plan.

Directed by Bank Supervision and Inspection, implemented by NBCIs

2017-2020

1.3. Enable and encourage foreign commercial banks or potential investors to restructure in order to ensure successful divestments.

Bank Supervision and Inspection Agency

2017-2018

1.4. In case the credit institution does not propose a feasible restructuring plan or the restructuring plan is not approved by the SBV or is not capable of implementing the approved plans, the following solutions shall be applied:

(1) Undergo special control as per the law;

(2) The corporation or economic group shall request the Government/competent authority for permission to carry out the merger into the organizational structure of the parent company;

(3) Sell to other credit institutions with demand or domestic and foreign investors in accordance with the law;

(4) Undergo dissolution or bankruptcy in accordance with the law, the bankruptcy does not significantly affect the safety and stability of the system of credit institutions;

(5) Apply other solutions in accordance with the market mechanism on the principle of conservatism and maintain the stability and safety of the system.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, cooperated by Departments of SBV according to direction of the Governor of the State Bank, and implemented by NBCIs

2017-2020

2. Financially-weak NBCIs affiliated to SOCBs

2.1. Formulate, complete and implement a restructuring plan according to certain solutions suited to the particular characteristics of the finance companies and finance leasing companies mentioned in Clause 2, Part I, Section B of the Proposal and Prime Minister's directives and the restructuring plan of the SOCBs shall be submitted to the Governor of the State Bank for consideration, approval or submit to the competent authorities for approval.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by SOCBs

2017-2020

2.2. Review, restructure the network; enhance the application of information technology.

NBCIs

2017-2020

2.3. Execute divestment and non-retention from financially-weak credit institutions, no prospects for sustainable development or not proposing a feasible restructuring plan or a restructuring plan not approved by the SBV; or inability to implement approved plans through solutions:

(1) Sell to other credit institutions or domestic and foreign investors with demands in accordance with the law;

(2) Narrow operation to undergo dissolution or bankruptcy in accordance with the law, the bankruptcy does not significantly affect the safety and stability of the system of credit institutions;

(3) Apply other solutions in accordance with the market mechanism on the principle of conservatism and maintain the stability and safety of the system.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, cooperated by Departments of SBV according to direction of the Governor of the State Bank, and implemented by SOCBs

2017-2020

3. Other financially-weak NBCIs

3.1. Encourage and enable financially-healthy credit institutions to merge/consolidate/contribute capital to, purchase shares of finance companies and finance leasing companies to become subsidiaries and shift their business strategies to focus on activities in the field of consumer credit, factoring, financial leasing; or looking for foreign investors who have the potential to contribute capital/buy shares in accordance with the law.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by NBCIs

2017-2020

3.2. Expeditiously formulate, improve and implement the restructuring plan under the direction of the State Bank, submit it to the Governor of the State Bank for consideration, approval or submit it to the competent authority for approval.

NBCIs

2017-2018

3.3. In case the credit institution does not propose a feasible restructuring plan or the restructuring plan is not approved by the SBV or is not capable of implementing the approved plans, the following solutions shall be applied:

(1) Undergo special control as per the law;

(2) Undergo consolidation, merger and acquisition on a voluntary basis;

(3) Undergo dissolution or bankruptcy in accordance with the law, the bankruptcy does not significantly affect the safety and stability of the system of credit institutions;

(4) Apply other solutions in accordance with the market mechanism on the principle of conservatism and maintain the stability and safety of the system.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, cooperated by Departments of SBV according to direction of the Governor of the State Bank, and implemented by NBCIs

2017-2020

E. Consolidating and developing the Vietnam Cooperative Bank, people's credit funds and microfinance institutions

I. Cooperative banks

1. Develop cooperative banks which are strong enough in terms of scale, financial capacity, management, technology and management level so that they can play the role of a focal point for linking and ensuring safety in the system. The main objective of the operation is to regulate the capital, extend the lending to the people's credit fund members and to carry out banking activities for its members. Improve the ability to provide effective care and support to people's credit funds in terms of expertise, profession and finance.

Vietnam Cooperative Bank

2017-2020

2. Expand the branch network of the cooperative bank appropriately in administrative divisions with multiple people's credit funds to increase the capital access and support for the people's credit funds.

Vietnam Cooperative Bank

2017-2020

3. Focus resources to prioritize:

- Lending to people's credit funds’ members to expand credit investment for the economy, building a roadmap to gradually reduce the proportion of outstanding loans to customers outside the system of people's credit funds;

- Granting loans to people's credit funds with difficulties in finance and liquidity.

Vietnam Cooperative Bank

2017-2020

4. Diversify banking products and services so as to advance the supply of quality products and services in line with the operation of people's credit funds.

Vietnam Cooperative Bank

2017-2020

5. Review and re-evaluate the system of internal documents for adjustment and amendment in accordance with the relevant provisions of law; innovate and improve the efficiency of the internal control and audit system.

Vietnam Cooperative Bank

2017-2020

6. Restructure, rearrange departments of business, administration to ensure safety and efficiency in operation.

Vietnam Cooperative Bank

2017-2020

7. Develop staff of banking managers and businessmen with high qualifications, good sense of responsibility and professional ethics.

Vietnam Cooperative Bank

2017-2020

8. Enhance the capacity of credit assessment, appraisal, and credit risk management.

Vietnam Cooperative Bank

2017-2020

9. Monitor closely the quality of investment assets: loans; deposits at credit institutions; stock trading, avoid rising bad debts and property losses.

Vietnam Cooperative Bank

2017-2020

10. Classify debts, set aside loan loss reserves in accordance with regulations and instructions of SBV.

Vietnam Cooperative Bank

2017-2020

11. Strengthen the ability to inspect and supervise the use of loans, ability to repay loans of customers; participate in the handling of people's credit funds that are financially-weak, showing signs of unsafeness in operation and risk of systematic breakdown prescribed by SBV.

Directed by Bank Supervision and Inspection Agency affiliated to SBV, SBV’s branches in cooperation with relevant units, implemented by Vietnam Cooperative Bank

2017-2020

12. Manage, use and take responsibility for the use of the capital preservation and regulation fund strictly according to regulations.

Vietnam Cooperative Bank; people's credit funds

2017-2020

II. People's credit funds

1. Resolutely handle the financially-weak people's credit funds; in particular assessing, identifying and classifying financially-weak people's credit funds in groups for handling:

- Group of financially-weak people's credit funds that has not successfully restructured, cannot restore operations, needs to accelerate handling of legal process (dissolution, merger, acquisition, bankruptcy, etc);

- Group of financially-weak people's credit funds that is able to restore operations: Review and adjust the restructuring plan appropriately; adopt effective solutions to restore operations; actively handle the weaknesses and violations of law, especially in the credit extension, loan classification, risk provisioning and violations of safety regulations in operation; actively deal with bad debt.

Directed by Bank Supervision and Inspection Agency affiliated to SBV; cooperated by Vietnam Cooperative Bank; Vietnam Deposit Insurance; implemented by people's credit funds

2017-2020

2. SBV strengthens the management, inspection and supervision of people's credit funds so as to promptly detect shortcomings, weaknesses and law violations, thereby taking timely remedial measures and appropriate restructuring.

SBV’s branches of provinces and cities (hereinafter referred to as provinces)

2017-2020

3. Actively coordinate with the executive committee of communist party and local authorities in:

- Dealing with the shortcomings and weaknesses of people's credit funds, especially in the liquidation of people's credit funds which are dissolved;

- Heightening awareness of policies, law of Communist Party and the State on people's credit funds;

- Raising public awareness and mobilizing people to participate in building people's credit funds.

- Further expanding people’s credit funds in rural areas with demands on the principle of ensuring safety and efficiency, with priority given to the establishment of people’s credit funds in areas where there is no or lack of people’s credit funds.

Implemented by SBV’s branches of provinces; Deposit Insurance of Vietnam; people's credit funds

2017-2020

4. Restructure finance, operations, governance, governance and control, in particular:

- Raise the financial capacity of the people's credit fund towards increasing the charter capital and attracting new more members on the basis of coherence between the expansion of capital sources and lending assistance provided for members.

- Promote capital mobilization with diversified methods; develop banking services in line with the management and operation capacity of people's credit funds; extend credit together with enhance credit quality control.

- Improve the quality and efficiency of credit activities; Strictly abide by the operational safety regulations; reasonably and effectively balance sources of funds and use of funds; improve the stability of capital.

- Standardize the system of business processes and measures to ensure business security; enhance the transparency and publicity in administration, finance and operation of people's credit funds.

- Consolidate and raise the capacity of the people's credit fund's management, executive and control apparatus, especially the internal inspection and control system; ensure that the manager, operator and control of the people's credit fund must meet the criteria and conditions on capability and qualifications as prescribed by law. Handle the dominant status of a small number of large capital contributors and related persons to the operation of people's credit funds.

Directed by SBV’s branches of provinces; implemented by people's credit funds; cooperated by Vietnam Cooperative Bank

2017-2020

5. Build up strong staff of people’s credit fund that has professional skills, managerial and executive skills and professional ethics, meeting the requirements of work. Regular provide employees with training and retraining with a view to continuously improve their professional qualifications along with ethics and professional training.

Directed by Organization and Personnel Department affiliated to SBV in cooperation with Bank Supervision and Inspection Agency, SBV’s branches of provinces, Vietnam Cooperative Bank, School of Banking Staff Training, relevant units; implemented by people's credit funds

2017-2020

6. Upgrade, improve facilities, equipment and information technology systems of people's credit funds. Ensure that all people's credit funds have facilities that meet safety requirements in operation and are connected to the internet

people's credit funds

2017-2020

III. Microfinance institutions

 

1. Continue implementing the Scheme on "Building and developing the microfinance system in Vietnam by 2020" approved by the Prime Minister in Decision No. 2195/QD-TTg of December 6, 2011.

Directed by Bank Supervision and Inspection Agency in cooperation with SBV’s relevant units

2017-2020

2. Improve monitoring mechanism for microfinance institutions.

Directed by Bank Supervision and Inspection Agency in cooperation with Department of Forecast and Statistics, implemented by Department of Information Technology

2017-2020

3. Study to amend or develop legal regulations to enable different types of credit institutions to participate in the microfinance market and to strengthen the linkages of these types of organizations with microfinance institutions (the ability to take advantage of the available network of banks, finance companies to provide microfinance services).

Directed by Bank Supervision and Inspection Agency in cooperation with the Legal Department

2017-2020

4. Assess the current status of microfinance institutions 'activities, propose amendments and additions to the legal framework to enable microfinance institutions to access to capital from business entities; expand microfinance products and services in line with management capacity, financial capacity and customer needs.

Directed by Bank Supervision and Inspection Agency in cooperation with the Legal Department

2017-2020

5. Raise public awareness of legal documents, policies, strategies, planning, plans, programs, projects and microfinance projects after they are promulgated or approved by a competent authorities

Directed by Bank Supervision and Inspection Agency in cooperation with SBV’s relevant units

2017-2020

6. Continue to cooperate with press agencies inside and outside the branch to propagate about microfinance activities.

Department of Communication

2017-2020

F. Restructuring of foreign credit institutions2 (excluding foreign finance companies, finance leasing companies3)

 

1. Encourage the merger or consolidation of foreign credit institutions with one another and between foreign credit institutions and Vietnamese credit institutions shall be conducted on the principle of voluntariness and in accordance with current law.

Bank Supervision and Inspection Agency

2017-2020

2. Encourage and enable foreign credit institutions, especially credit institutions with strong financial capacity, international prestige and experience, to participate in supporting technology transfer, knowledge and experience in management and capital contribution, share purchase, acquisition, merger, merger with domestic credit institutions.

Bank Supervision and Inspection Agency

2017-2020

3. Foreign credit institutions that do not maintain the charter capital/capital allocated in accordance with the law, their business activities are not effective or have no prospects of sustainable development, have no development of plans, roadmap and solutions shall be reported to the Governor of SBV for consideration

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by foreign credit institutions

2017-2020

4. Consider withdrawing, dissolving, consolidating or applying other compulsory interventions in accordance with provisions of law in cases where foreign credit institutions can not propose feasible restructuring plans or restructuring plans are still not approved by SBV or the foreign parent bank/joint venture partners are unable to replenish the deficit due to business losses to ensure legal capital.

Bank Supervision and Inspection Agency

2017-2020

G. Improving financial capacity, transformation of business models, management and administration of credit institutions

 

I. Improving financial capacity and credit quality

 

1. Build and improve the quality of regulatory capital of credit institutions to ensure that the charter capital amount is not lower than the legal capital amount prescribed by law and fully satisfy the minimum capital adequacy ratio as prescribed in international law and standards.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by credit institutions

2017-2020

2. Commercial banks guarantee their regulatory capital according to the Basel II standard (by standardized approach) by the end of 2020.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by commercial banks

2017-2020

3. Formulate and implement a roadmap for increasing the equity of credit institutions, from the following sources: (i) Issue additional shares, increase capital contribution from domestic and foreign strategic shareholders in accordance with the applicable law; (ii) increase capital from annual dividend or from surplus of issued shares and retained earnings; (iii) issue convertible bonds, long-term debt instruments to create a stable source of capital; (iv) some reputable credit institutions may choose to list shares on the international market.

credit institutions

2017-2020

4. Take charge and cooperate with the Ministry of Finance and the Ministry of Planning and Investment in formulating plans on raising charter capital of commercial banks of which the state holds more than half of the charter capital (SOCBs) by 2020 to meet capital requirements under Basel II, and then submitting them to the Prime Minister for approval

Bank Supervision and Inspection Agency

2017-2020

5. Implement synchronously and drastically solutions to bad debts; boost the settlement of bad debts under the market mechanism, especially with VAMC; develop and implement new controls on bad debts and improve credit quality.

credit institutions

2017-2020

6. Strongly reform the procedures for extending credit in a manner for customers’ convenience to access capital and banking services.

credit institutions

2017-2018

7. Strictly limit credit growth allowed by SBV; strictly abide by the law provisions on credit extension, loan security and safety regulations in credit activities.

credit institutions

2017-2020

8. It is strictly forbidden to conceal bad debts, reflecting deviations in credit quality and business results.

credit institutions

2017-2020

9. Distribute interest receivables of bad debts of credit institutions that have not been divested as recognized until December 31, 2016 in accordance with the law.

Counseled by Bank Supervision and Inspection Agency, directed by leadership of State Bank, implemented by credit institutions

2017-2020

10. Enhance competitiveness, focus on competition by quality of products and services and service methods.

credit institutions

2017-2020

11. Enhance the capacity of credit assessment and appraisal and credit risk management; especially the capacity for project analysis, proposal for cash flow loans.

credit institutions

2017-2020

12. Implement credit risk management according to the lending process in 3 stages: credit proposal, appraisal and disbursement; renovation of internal credit rating system (business and personal).

credit institutions

2017-2020

13. Regularly review, evaluate, monitor and closely monitor borrowers, credits and collateral to take appropriate measures.

credit institutions

2017-2020

14. Review and re-evaluate the debts which are being restructured and repay the debts and keep the debt groups in order to classify debts according to the provisions of law; maintain credit growth safely, effectively, suitable for scale, capital structure and risk management capacity.

credit institutions

2017-2020

15. Strengthen risk management to reduce the cost of loan loss reserves, strictly save managerial costs; and control and limit the risk of credit concentration, medium and long term credit growth in line with the ability to mobilize medium and long term capital, especially credit extended for areas with high risks. Especially real estate, securities, development investment projects.

credit institutions

2017-2020

16. Improve the effectiveness of internal control, audit and ensure compliance in credit activities.

credit institutions

2017-2020

17. Enhance the application of information technology in credit risk management.

credit institutions

2017-2020

II. Transforming the business model of credit institutions from largely dependent on credit to multi-service business model

 

1. Control of credit growth associated with credit quality improvement, in line with the objective of operating monetary policy, meeting the demand for capital for the economy.

Financial Policy Department

2017-2020

2. Strictly control credit growth in high risk areas such as real estate, securities, BOT.

Directed by Department of Credit of economic sectors; Departments of SBV perform tasks as assigned by the Governor of the State Bank

2017-2020

3. Develop a balance between the credit market and the stock market, the corporate bond market, and gradually reduce the share of government bonds held by credit institutions.

Implemented by the Financial Policy Department in cooperation with the Ministry of Finance

2017-2020

4. Transforming the business model of commercial banks from "monoculture of credit" to the diversification model of non-credit banking products.

commercial banks

2017-2020

5. Prioritize investment in the development of information technology infrastructure in the banking sector, pay special attention to modern security and security solutions to reduce transaction costs, risk prevention and improve professionalism in providing electronic banking products and services.

credit institutions

2017-2020

6. Expand agency relationships with foreign financial institutions, promoting access to international financial markets and promoting the commercial presence of credit institutions in regional and international financial markets so as to increase export of financial services.

Supported by Department of International Cooperation and Department of Foreign Exchange Management; implemented by credit institutions

2017-2020

III. Improving governance, administration, transparency in operations of credit institutions

 

1. Perfect, upgrade and apply a risk management system in line with the principles and standards of the Basel Committee and the Basel II roadmap in Vietnam; promulgate minimum regulations on liquidity risk management, credit risk, market risk (interest rate, exchange rate, securities price and related derivatives price) and operational risk, build 3 layers of protection (business, support and internal audit) in the operations of credit institutions

credit institutions

2017-2020

2. Classify debts, set aside loan loss reserves in accordance with law and in accordance with international practice.

credit institutions

2017-2020

3. Set forth specific provisions on the legal responsibility of members of the Board of Members /Board of Directors, Board of Executives, Board of Supervision and Internal Audit of credit institutions, especially with the approval of credit and investment contracts that have committed or failed to establish and operate an efficient internal control system so as to monitor, prevent, detect and report to the regulatory agencies.

Bank Supervision and Inspection Agency

2017

4. Enhancing standards of risk management capability, business ethics of members of Board of Members/Board of Directors, Board of Executives, Supervisory Board, key positions of credit institutions.

Bank Supervision and Inspection Agency

2017

5. Ensure independence of the authority, responsibilities and duties of members of Board of Members/Board of Directors, Board of Executives, Supervisory Board of SOCBs/JSCBs and non-bank credit institutions). Increase the number of independent members of Board of Directors (in accordance with the Enterprise Law)

credit institutions

2017-2020

6. List stocks of JSBs on the stock market; increase rate of JSCBs’ shares owned by the general public.

commercial banks

2017-2020

7. Continue to actively cooperate with major shareholders, especially shareholders of groups, corporations, and state-owned enterprises in order to build and implement drastically and completely the roadmap and plan for divestment towards the direction of the Government on shareholding in credit institutions; economic groups, corporations and state-owned enterprises that hold shares or stakes at credit institutions shall have to divest and terminate their business activities in the banking sector.

Implemented by credit institutions in cooperation with economic groups, corporations, and state-owned enterprises

2017-2020

8. Cautiously assess the financial capacity of large investors, strategic investors to ensure that they have sufficient financial capacity.

credit institutions

2017-2020

9. Publicly and accurately disclose information on business strategies, ownership, financial position, management structure, risk management and corporate governance in accordance with law and international practice; improve the accountability of credit institutions with the public.

credit institutions

2017-2020

10. Credit institutions proactively develop long-term business plans and strategies; operate business with prudence, ensuring compliance with current regulations.

credit institutions

2017-2020

11. Modernize technology systems; develop internal management information system, IT infrastructure and internal payment system of commercial banks.

Supported by Department of Information Technology; implemented by commercial banks

2017-2020

12. Upgrade the core-banking system in conformity with the size, complexity of operations and management and administration requirements of credit institutions; enhance the application of information technology to operating and managing, analyzing and preventing risks; concurrently adopt appropriate solutions to IT security.

Supported by Department of Information Technology; implemented by credit institutions

2017-2020

13. Improve conditions and criteria for key positions.

Directed by Bank Supervision and Inspection Agency, implemented by credit institutions

2017

14. Select and arrange staff based on their qualifications and professional ethics; focus on the development of administrative officers and business executives with high qualifications, sense of law observance, good ethics and sense of responsibility.

credit institutions

2017-2020

H. Enhancing innovation and improving the efficiency of banking inspection and supervision

 

1. Complete the organization and operation model of the Bank Supervision and Inspection Agency

Directed by Organization and Personnel Department in cooperation with Bank Supervision and Inspection Agency

2016-2018

2. Strengthen the coordination of work, information sharing between SBV and other law enforcement agencies and functional agencies in the supervision and inspection activities;

Directed by Bank Supervision and Inspection Agency in cooperation with SBV’s branches of provinces

2016-2020

3. Enhance the SBV's early warning of systematically potential risks and prevent the risk of violating laws by credit institutions, foreign bank branches;

Bank Supervision and Inspection Agency

2016-2020

4. Reinforce monitoring in the direction of improving effectiveness of micro-safety and macro-safety supervision based on initiating new tools and methods of risk monitoring associated with boosting IT applications. Monitoring must be closely linked to inspection, licensing and issuance of policies;

Directed by Bank Supervision and Inspection Agency in cooperation with Department of Information Technology

2016-2020

5. Reform of the inspection in the direction of strengthening the comprehensive inspection of credit institutions, in line with the actual operation of the credit institutions; combine the inspection and supervision of the observance of policies and laws and risks in the activities of inspected and supervised entities and apply the risk-based inspection method in accordance with international practices and standards.

Bank Supervision and Inspection Agency

2016-2020

I. Settlement of bad debts

 

1. Continue to implement measures to settle bad debts in accordance with Decision No. 843/QD-TTg dated 31 May 2013 of the Prime Minister, which includes the following main groups of solutions:

Bank Supervision and Inspection Agency

2016-2020

1.1. Credit institutions re-evalue the quality and ability to recover debts to take appropriate measures; enhance the setting aside and use of loan loss reserves to settle bad debts; continue to restructure the debt and provide financial aid for clients who are able to repay debts to overcome difficulties and recover; complete legal documents on security assets; collect debts and deal with security assets; strictly control and reduce operating costs; limit bad debts likely incurred in the future.

credit institutions

2016-2020

1.2. Borrowers must consolidate themselves, streamline their operations, improve their financial capacity, administration, enhance technology application and competitiveness; actively cooperate with credit institutions to develop and implement plans to restructure debts, eliminate difficulties in business; actively promote good consumption and boost export; proactively participate in programs and solutions to support enterprises run by the Government, ministries and local governments.

Counseled by Bank Supervision and Inspection Agency, directed by Governor of the State Bank to ministries and local governments; implemented by credit institutions

2016-2020

1.3. SBV, ministries, and local governments continue to implement monetary, credit and banking policies; concurrently, it will remove difficulties for business, support the market, reduce inventory, promote consumption of goods, stimulate investment and consumption in the country; develop real estate market, stock market.

Implemented by Departments affiliated to SBV according to their assignments

2017-2020

1.4. SBV enhances the inspection and supervision of credit institutions in the implementation of regulations on credit extension, operational safety and debt classification and setting aside loan loss reserves.

Directed by Bank Supervision and Inspection Agency in cooperation with SBV’s branches of provinces

2016-2020

1.5. SBV and other ministries continue to improve the legal framework and promote the management, inspection and supervision in the field of monetary, banking, securities, insurance and state-owned enterprises.

Directed by Bank Supervision and Inspection Agency and SBV’s branches of provinces in cooperation with relevant units

2016-2020

1.6. VAMC will focus on reviewing, classifying and re-evaluating borrowers, collateral and purchased debts to determine debt recovery capacity and appropriate solutions; strongly and synchronously implement solutions to buy, sell and settle bad debts under the market mechanism; intensify the close coordination with the credit institutions in recovering debts, restructuring debts, selling and settling debts and collateral; provide financial aids for borrowers to restore their business and complete their unfinished projects; strengthen capacity of asset valuation and valuation; regularly and promptly disclose the activities of buying, selling and settling bad debts; coordinate with relevant units to continue researching and improving the organization and operation model.

VAMC

2016-2020

2. Adopt solutions to the legal framework, policies on settling bad debts and collateral; develop debt trading market.

 

2016-2020

2.1. Make amendments and improve the legal framework to enable credit institutions, VAMC, Debt and Asset Trading Corporation (DATC) and other debt trading enterprises to settle bad debts effectively and completely in the next stages.

Bank Supervision and Inspection Agency

2016-2020

2.2. Coordinate with the Ministry of Finance and the Ministry of Natural Resources and Environment to improve the legal framework on debt trading of enterprises, the legal framework for the formation, development and management of the debt trading market.

Bank Supervision and Inspection Agency

2016-2020

2.3. Coordinate with the Ministry of Natural Resources and Environment to amend the provisions of the Land Law to remove difficulties in acceptance of mortgage being land use rights of organizations other than credit institutions.

Legal Department

2016-2020

2.4. Coordinate with the Ministry of Finance to improve the law on securities, which establishes the legal framework for securitization of debts and contributes to the creation of legal basis for the implementation of debt transactions on the stock market and conversion of bad debts into securities for transparent transactions at appropriate time.

Financial Policy Department

2017-2020

3. Solutions to buy bad debt according to market value and improve the financial capacity of VAMC:

3.1. Solutions to buy bad debt according to market value of VAMC:

a. Criteria for bad debts bought by VAMC at market value:

- Priority is given to outstanding principal balances to minimize the costs of monitoring, managing and supervising borrowers and collateral incurred by VAMC.

- Priority is given to bad debts purchased with special bonds to be purchased according to the market value.

b. Buying method: VAMC can choose to either buy each bad debt or buy in lots to accelerate the process of buying, selling and settling bad debts through VAMC.

c. Prices of bad debts: VAMC and credit institution shall agree to determine the price of bad debts according to the market value on the basis of valuation results of the debts and collateral; assess the possibility to dispose of collateral or the prospects of restoring debt repayment capacity of the borrowers or the possibility to sell bad debts to investors.

d. VAMC is entitled to negotiate with the credit institution to buy bad debts at prices equal to the valuation value of the independent valuation organization; handle, sell and recover debts according to the provisions of law and distribute the remaining value of the recovered amount of such bad debts after subtracting the purchase price and reasonable expenses. VAMC and the credit institution must reach a consensus on choosing the independent valuation organization.

3.2. Solutions to improve financial capacity for VAMC:

- VAMC is allowed to increase the charter capital to VND 10,000 billion (by 2020) to accumulate sources of funds to buy bad debts according to the market value, provide additional facilities, human resources and improve the financial capacity, market credibility so as to implement bad debt trading at market value effectively.

- VAMC is allowed to deduct additional reserve fund of charter capital (not more than the charter capital of VAMC) from the annual expenditure fund according to the principle of revenue and expense balance.

VAMC

2016-2020

4. Solutions for establishing interdisciplinary working groups in charge of settlement of bad debts of credit institutions

 

 

4.1. The steering board in charge of restructuring system of credit institutions set up a central interdisciplinary working group composed of representatives (at least department level) and relevant officials of ministries and local governments, including: SBV, Ministry of Finance, Ministry of Justice, Ministry of Natural Resources and Environment, Ministry of Construction, Ministry of Planning and Investment, Ministry of Public Security, Supreme People's Procuracy, People's Committee of Hanoi and Ho Chi Minh City Minh and the leader of VAMC. In case of necessity, for some provinces, the steering board shall direct the local governments to set up interdisciplinary working teams in their respective local governments according to the proposals of the central interdisciplinary working group to perform the required tasks.

Banking steering board implements the Scheme

2017

4.2. In the course of performing the tasks, if any difficulties arise legally within the scope and competence of the ministries or local governments, the interdisciplinary working groups shall send reports to the head of the steering board on restructuring of the system of credit institutions and settle bad debts so as to eliminate difficulties and accelerate the process of settling bad debts of credit institutions and VAMC.

Banking interdisciplinary working groups, steering board implements the Scheme

2016-2020

5. Solutions to settle bad debts related to outstanding capital construction derived from the central and local budgets and bad debts of state enterprises, bad debts derived from loans under the programs, designations by the Government, the Prime Minister, Government-guaranteed debts:

Department of Credit of Economic Sectors

2017-2020

5.1. For bad debts related to outstanding capital construction derived from the central and local budgets, bad debts derived from loans according to projects and designated programs of the Government or the Prime Minister, Government-guaranteed debts: The Ministry of Finance shall take charge and cooperate with ministries and local governments in, reviewing, drawing up roadmaps and allocating sources for debt repayment completely.

Department of Credit of Economic Sectors

2017-2020

5.2. For bad debts of state-owned enterprises: The representative of state-owned enterprise shall have to determine the direction of operation of the enterprise in order to take appropriate solutions, including: (i) Completely settle the collateral of the debt (if any); (ii) In case of continued operation, the credit institution shall be allowed to convert the debt into capital contribution or provide additional capital for the enterprise in order to obtain sources of debt repayment to the credit institution; (iii) make the enterprise bankrupt so that credit institution may recover the related debts

Department of Credit of Economic Sectors

2017-2020

K. Support the restructuring of credit institutions

1. Appoint financially-healthy credit institutions to receive and manage financially-weak credit institutions (hereinafter referred to as bridge banks) to streamline and reinforce financially-weak credit institutions (which pose potential risks and systematic breakdown), then have them acquired by, consolidated with other credit institutions or sold to qualified investors.

Bank Supervision and Inspection Agency

2017-2020

2. Implement special solutions to support financially-healthy credit institutions to participate in the handling of financially-weak credit institutions according to regulations and within the scope of their competence; incase of ultra vires, they shall report them to the Government for consideration to ensure that restructuring is carried out feasibly and completely.

Bank Supervision and Inspection Agency

2017-2020

3. Strengthen the financial capacity of Vietnam Deposit Insurance to participate in the handling and restructuring of financially-weak credit institutions associated with the settlement of bad debts (in the short term, focusing on people’s credit funds and microfinance institutions) and minimize the risk to the system of credit institutions.

Bank Supervision and Inspection Agency

2017-2020

4. Administer monetary policy actively, closely coordinate with fiscal policy to control inflation, stabilize macro economy, support restructuring of credit institutions associated with bad debt settlement and support for sustainable economic growth on the principle of clear and transparent distinction between the function of monetary policy and the function of fiscal policy.

Financial Policy Department

2016-2020

5. Continuing modernization and synchronous development of the banking technology system, especially the management information system of SBV and the information system to support banking supervision activities for the Bank Supervision and Inspection Agency.

Information Technology Administration

2016-2020

6. Coordinate with the Ministry of Finance to promote the development of the capital market, gradually make the capital market an important component of the financial market, contribute effectively to raise capital for investment in developing the capital market; reduce the dependence of the economy on bank credit to ensure a more balanced and sustainable financial system in the medium and long term.

Financial Policy Department

2017-2020

7. Ministries such as the Ministry of Public Security, the Government Inspectorate and the State Audit shall closely coordinate with the SBV in managing the banking sector, attaching importance to the inspection and investigation work, audit and information exchange in order to promptly prevent and strictly handle cases of violation, contributing to ensuring the stability and safety of the system of credit institutions; proactively coordinating and reaching a consensus on inspection, examination and/or audit.

Implemented by Departments affiliated to SBV according to their assignments

2016-2020

8. The civil judgment enforcement bodies shall coordinate with and assist VAMC and credit institutions in the execution of court judgments and decisions on the settlement of security assets; coordinate with credit institutions in reviewing and synthesizing judgments and decisions which have not yet been enforced or are being enforced, accelerating the execution of outstanding cases.

Implemented by VAMC in cooperation with civil enforcement agencies

2016-2020

9. Ministries, local governments, news agencies and press agencies shall closely coordinate with SBV of Vietnam in restructuring the system of credit institutions in association with settling bad debts and actively raising public awareness of policies issued by Communist Party and the Government on restructuring the banking system to stabilize the public psychology and create a high consensus in society, avoid causing negative impact on the banking system and financial market

Department of Communication

2016-2020

10. Coordinate with the Ministry of Finance and relevant agencies to develop financial mechanisms for financially-weak credit institutions in the process of restructuring and settling bad debts.

Department of Finance and Accounting

2017-2020

11. Establish a steering board to restructure credit institutions and settle bad debts at SBV’s branches in provinces.

Implemented by SBV’s branches of provinces

2017-2018

L. List of projects, bills, ordinances and legislative documents

I- Formulate bills, ordinances and guiding documents

1. Formulate the National Assembly's Resolution on the pilot settlement of bad debts of credit institutions and the Directive on initiation of the resolution on the pilot settlement of bad debts of credit institutions.

Legal Department

2017

2. Formulate the Law on amendments to the Law on Credit Institutions.

Legal Department

2017-2018

3. Review and amend regulations on policies to ensure the safety of banking operations, licensing, inspection, supervision and handling after inspection and supervision.

Bank Supervision and Inspection Agency

2017-2020

4. Coordinate with the ministries, the People's Committees of the provinces and the concerned agencies in reviewing difficulties and inadequacies in the legal system between legislative documents in banking sector and those of other sectors to advise the Government to submit drafts to the National Assembly for amendments so as to create a comprehensive legal framework for the restructuring of the system of credit institutions and bad debt settlement.

Legal Department

2017-2020

II- Develop Schemes

1. Banking sector development strategy by 2025, with a vision to 2035.

Institute of Banking Strategy

2017

2. Project on the development of the people's credit fund system by 2020, with a vision to 2030.

Bank Supervision and Inspection Agency

2017-2019

III- Formulate decrees of the Government and decisions of the Prime Minister

1. Amend the Decree on foreign investors buying shares of Vietnamese credit institutions.

Bank Supervision and Inspection Agency

2018-2019

2. Decree No. 141/2006/ND-CP dated November 22, 2006, promulgating the list of legal capital amounts of credit institutions; amending the regulation on the minimum charter capital suitable to the practical operation and satisfying the capital requirements of people's credit funds and microfinance institutions.

Bank Supervision and Inspection Agency

2017-2020

IV- Formulate circulars of SBV

1. The Circular on amendments to Circular No. 03/2016/TT-NHNN dated February 26, 2016 of the Governor of SBV on guidelines for foreign exchange management in terms of borrowing and repaying foreign loans of enterprises.

Department of Foreign Exchange Management

2017

2. The Circular on procedures for banking supervision.

Bank Supervision and Inspection Agency

2017

3. The Circular on requests and procedures for permission to make changes of commercial banks or branches of foreign banks.

Bank Supervision and Inspection Agency

2017

4. The circular on the network of credit institutions being cooperatives.

Bank Supervision and Inspection Agency

2017

5. Circular No. 35/2015/TT-NHNN dated December 31, 2015 on amendments to the Circular No. 35/2015/TT-NHNN on the statistics and reporting applicable to credit institutions and foreign bank branches.

Department of Forecast and Statistics

2017

6. The Circular on accounting system of microfinance institutions.

Department of Finance and Accounting

2017

7. The circular on guidelines for the conditions, applications and procedures for capital contribution and share purchase of credit institutions.

Bank Supervision and Inspection Agency

2017

8. The Circular on the network of non-bank credit institutions.

Bank Supervision and Inspection Agency

2017

9. The Circular that replaces Circular No. 44/2011/TT-NHNN dated December 19, 2011 on the internal control system and internal audit of credit institutions and branches of foreign banks.

Bank Supervision and Inspection Agency

2017

10. The Circular on the ranking of credit institutions and foreign bank branches.

Bank Supervision and Inspection Agency

2017-2018

11. The Circular on supervision of payment systems.

Department of Payment

2017

12. The Circular on amendments to or replacement of Circular 12/2014/TT-NHNN on conditions for foreign borrowing of enterprises not guaranteed by the Government.

Department of Foreign Exchange Management

2017

13. The Circular No. 34/2011/TT-NHNN dated October 28, 2011 on amendments to Circular No. 34/2011/TT-NHNN on guidelines for procedures for revocation of licenses and liquidation of assets of credit institutions and branches of foreign banks; procedures for revocation of representative office licenses of foreign credit institutions and other foreign organizations engaged in banking activities.

Bank Supervision and Inspection Agency

2017

14. The Circular on sale of receivables from financial leasing contracts.

Bank Supervision and Inspection Agency

2017

15. The Circular of SBV on licensing, organization and operation of microfinance institutions

Bank Supervision and Inspection Agency

2017

 


2 joint venture banks, wholly foreign-owned banks

3 Foreign finance companies, finance leasing companies shall comply with Part D – Restructuring finance companies, finance leasing companies


------------------------------------------------------------------------------------------------------
This translation is made by LawSoft and for reference purposes only. Its copyright is owned by LawSoft and protected under Clause 2, Article 14 of the Law on Intellectual Property.Your comments are always welcomed

Thuộc tính văn bản 1533/QD-NHNN
Loại văn bảnQuyết định
Số hiệu1533/QD-NHNN
Cơ quan ban hành
Người ký
Ngày ban hành20/07/2017
Ngày hiệu lực20/07/2017
Ngày công báo...
Số công báo
Lĩnh vựcTiền tệ - Ngân hàng
Tình trạng hiệu lựcCòn hiệu lực
Cập nhậtTháng trước
(28/08/2017)
Download văn bản 1533/QD-NHNN

Lược đồ văn bản

Decision 1533/QD-NHNN 2017 Restructuring system credit institutions associated settlement bad debts


Văn bản bị sửa đổi, bổ sung

    Văn bản sửa đổi, bổ sung

      Văn bản bị đính chính

        Văn bản được hướng dẫn

          Văn bản đính chính

            Văn bản bị thay thế

              Văn bản hiện thời

              Decision 1533/QD-NHNN 2017 Restructuring system credit institutions associated settlement bad debts
              Loại văn bảnQuyết định
              Số hiệu1533/QD-NHNN
              Cơ quan ban hànhNgân hàng Nhà nước
              Người kýNguyễn Kim Anh
              Ngày ban hành20/07/2017
              Ngày hiệu lực20/07/2017
              Ngày công báo...
              Số công báo
              Lĩnh vựcTiền tệ - Ngân hàng
              Tình trạng hiệu lựcCòn hiệu lực
              Cập nhậtTháng trước
              (28/08/2017)

              Văn bản thay thế

                • 20/07/2017

                  Văn bản được ban hành

                  Trạng thái: Chưa có hiệu lực

                • 20/07/2017

                  Văn bản có hiệu lực

                  Trạng thái: Có hiệu lực