The Governor of the State Bank of Vietnam (SBV) issued Circular No. 03/2015/TT-NHNN on March 20 to guide the implementation of several articles of Decree No.26/2014/ND-CP dated April 7, 2014 on the organization and operation of Banking Inspection and Supervision.
The Circular includes 03 Chapters, 17 Articles guiding the implementation of several articles of Decree No.26/2014/ND-CP as follows:
- Assignment of responsibilities for banking inspection and supervision.
- Implementation of independent audit for serving the banking inspection and supervision
- Procedures for expanding inspection duration of over 70 days.
- Publicizing inspection results.
- The qualification requirements for banking inspectors.
- Reporting regime.
- Relations among banking inspection and supervision entities and the SBV municipal and provincial branches under the central government (hereafter called as SBV branches).
- Rights and responsibilities for coordination among banking inspection entities and SBV branches in the inspecting process.
This Circular will take effect from may 7, 2015 and replace Circular No.04/2000/TT-NHNN3 of the SBV dated March 28, 2000 on guiding the implementation of Decree No.91/1999/ND-CP of the Government dated September 4, 1999 on organization and operations of the banking supervision.
TLH