On April 17th, 2019, the State Bank of Vietnam (SBV) issued Decision No. 777/QD-NHNN on the implementation of Circular No. 41/2016 / TT-NHNN of Tien Phong Commercial Joint Stock Bank (TPBank).
Accordingly, TPBank is allowed to implement Circular No. 41/2016/TT-NHNN dated December 30th, 2016 of the SBV Governor stipulating the capital adequacy ratio for the commercial banks and the foreign banks’ branches in line with Basel II standards (hereinafter referred to as Circular 41) since May 1st, 2019.
TPBank is responsible for carrying out the official operation transformation from the main system to the backup system, implementing projects to eliminate the manual data entry according to the Plan; at the same time, issuing internal regulations on key activities before June 2019, as well as the 2019 audit plan; complying with Circular 41 and the reporting mechanisms on capital adequacy ratio statistics in line with Circular 41 under the guidance of the SBV.
Decision No. 777/QD-NHNN takes effect from the date of signing.
VA