Press Release of issuance of Circular No.35/2015/TT – NHNN
The State Bank of Vietnam (SBV) has conducted FSMIM Project for the aims of formulating a centralized and unified management data base on the background of modern technology and international standards of statistical reports in order to meet the requirements of managing and supervising the operations of credit institutions and banking development in the current time.
In order to obtain the above mentioned objectives, the SBV Governor issued Circular No. 35/2015/TT – NHNN (Circular 35) on December 31, 2015 on stipulating statistical reporting regime applicable to credit institutions and foreign bank branches. Circular 35 replace Circular No.31/2013/TT-NHNN. The Circular is formulated on the basis of positive points of model and reporting procedures in Circular No.31. Therefore, in general, the Circular continues to maintain and complete regulations of Circular No.31 and relevant guiding documents as follows:
1. The Circular includes 3 Chapters, 24 Articles and 4 Appendixes:
- Chapter I: General provisions include 14 Articles.
- Chapter II: Responsibilities of SBV entities and credit institutions for implementing statistical reports include 7 Articles.
- Chapter III: Implementation includes 3 Articles.
- Appendix 1: Report forms
- Appendix 2: Instructions on report
- Appendix 3: Statistical codes applicable to banking statistics.
- Appendix 4: Instructions on classifying types of organizations, individuals and SMEs.
2. Differences from Circular No.31
2.1. Circular 35 revises the governing scope and the implementers. According to Circular 35, the implementers are credit institutions, not including the SBV municipal and provincial branches.
2.2. Circular 35 completes statistical reporting system toward using one type of electronic reporting forms, and integrating all types of reports applicable to credit institutions including statistical reports as stipulated in Circular No.31, financial report, accounting balance report and other new statistical reports when needed.
2.3. Circular 35 develops fully centralized report model. Accordingly, people’s credit funds will directly send reports to the SBV (via Technology Information Department).
2.4. Circular 35 eliminates the deadline for sending report applicable to people’s credit funds and people’s credit funds shall have to comply with the common deadline of reporting applied to the system of credit institutions. The new regulation shortens the time of sending quarterly reports as compared to Circular No.31 in order to meet the demand of promptly collecting information and data from SBV entities.
2.5. Circular 35 completes the procedures of checking the electronic reports more clearly and strictly, and adjusts the time of reviewing process due to increasing the number of reports to be checked in comparison with Circular No.31.
2.6. Circular revises and eliminates 09 appendixes of Circular No.31 and groups them into 4 appendixes to be attached in Circular No.35.
2.7. Circular 35 completes the statistical codes applicable to banking statistics by adding regional codes to Table 8 “municipal, provincial and regional codes”, adding national codes to Table 7 “National codes” for monitoring and analyzing remittance sending flow in international payment balance.
3. The Circular will take effect from January 1, 2017.
Translated by LH