Chỉ thị 05/2004/CT-NHNN

DIRECTIVE

ON THE ENHANCEMENT OF THE QUALITY OF STATISTIC REPORTS IN BANKING AREA

THE GOVEROR OF THE STATE BANK

In recent years, the system of statistic reporting data, which have been established on the basis of the Decision No. 516/2000/QD-NHNN1 dated 18 December, 2000 of the Governor of the State Bank has made significant contribution to the success in the regulation of the State Bank (SBV), contributing considerably to the common achievement of the country on its way to the economic development and integration. The monetary and banking area is greatly sensitive to political, economic and social changes and directly affects the stability of important macroeconomic indices, especially in face of the present complicated situation in the world. For the sustaining of successes of previous years, satisfying requirements arising from the new situation, the innovation process of the monetary, banking management of the SBV has been taking place very strongly, which includes the innovation of the statistic reporting (the current statistic reporting regime issued in conjunction with the decision No. 516/2000/QD-NHNN1 dated 18 December, 2000 of the Governor of the State Bank and from 1 January, 2005, the new statistic reporting regime which is issued in conjunction with the Decision No. 477/2004/QD-NHNN dated 28 April, 2004 of the State Bank's Governor shall be effective). The compliance with the statistic reporting regime has recently shown several shortcomings, in terms of the timing, the accuracy of reports, ect... that affect the regulation of the SBV. To overcome the limitations of the statistic reporting, it is very important for relevant units to comply with the statistic reporting regime in addition to the renovation of the statistic reporting regime itself. The State Bank's Governor would, therefore, like to request Departments of the SBV and credit institutions to seriously comply with followings:

1. IN RESPECT OF DEPARTMENTS OF THE STATE BANK:

- Departments of the State Bank should, within the scope of their function, assignment, strengthen the advice on the reporting units to seriously comply with the statistic reporting regime and make full, accurate comments on the compliance with the statistic reporting regime (in terms of the timing, the accuracy of reporting data) by reporting units.

- The Department of Monetary and Policy shall function as a coordinate and cooperate with other functional Departments to submit to the SBV for timely settlement of obstacles, difficulties, which arise during the implementing process of the statistic reporting regime.

- The Banking Informatics Technology Department should timely cooperate with Departments of the SBV and Credit Institutions in respect of the techniques, operations to secure the quality of the transmission and receipt of information, reports.

- On the basis of the notice of the compliance with the Reporting and Information Regime (Statistic Reporting Regime), quarterly, the Banking Inspectors shall cooperate with the Department of Monetary and Policy and related Departments to make appropriate recommendations in respect of forms of settlements for systematic violations of the statistic reporting regime.

- The State Bank branches in provinces, cities shall, within the scope of their assigned functions, directly strengthen, deal with issues relating to the implementation of the statistic reporting regime in their respective locality, or immediately report to the SBV Head-office in case of need. The State Bank branches in provinces, cities shall also be obliged to fully, seriously comply with provisions of the statistic reporting regime and responsible for the quality of their units' statistic report.

- The State Bank branches in Hanoi and Hochiminh city should capture daily data on deposit, interest rates, credit of Credit Institutions in the locality for their timely direction, management in case of extraordinary changes and report thereof to the SBV Head - office (Monetary and Policy Department) when requested.

2. IN RESPECT OF CREDIT INSTITUTIONS AND SUBSIDIARY UNITS:

- To fully, seriously comply with provisions of the Statistic Reporting Regime.

- To apply effective measures to their system in order to secure the accuracy, sufficiency, and timeliness of reporting data.

- Chairperson of the Board of Directors, General Directors (Directors) of Credit Institutions, Director of subsidiary units of credit institution (being reporting unit under the locality of provinces, cities) shall be responsible for the timing, the quality of reports of their units.

Head of units of the State Bank, General managers of the State Bank branches in provinces, cities, Chairperson of the Board of Directors and General Director (Director) of Credit Institutions, Director of subsidiary units of credit institutions shall be responsible for the thorough understanding, well performance of this Directive.

Any obstacle, which is discovered during the implementation process, shall be reported to the State Bank for consideration and settlement.