New Circular on process and procedure for bank supervision

On June 30, 2022, the State Bank of Vietnam issues the Circular No. 08/2022/TT-NHNN prescribing process and procedure for bank supervision.

In particular, Article 5 of this Circular prescribes the process and procedure for bank supervision as follows:

  • Step 1: Collect, classify, and process documents, information, and data;
  • Step 2: Implement the compliance/or risk supervision;
  • Step 3: Make the supervision reports and suggest the method of processing.

Follow, supervise and speed up the implementation of the investigation conclusion from the credit institutions, and foreign bank branches in accordance with provisions of the Government in this Circular.

Process and procedure for bank supervision
Process and procedure for bank supervision (Illustration)

Besides, in accordance with Article 6, Circular 08, collected documents, information and data must be kept as archives in the scientific, whole ways prescribed by law on archives.

The management, archives, and use of documents, information, and data in the list of secret state directories; the security of information and data of credit institutions and banks in accordance with law provisions.

This Circular takes effect on September 01, 2022.

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