On September 24, 2019, the Governor of the State Bank of Vietnam (SBV) issued Decision No. 1966/QD-NHNN on the implementation of Circular No. 41/2016/TT-NHNN by Shinhan Bank Vietnam Limited (Shinhan Bank Vietnam).
Accordingly, Shinhan Bank Vietnam shall implement Circular No. 41/2016/TT-NHNN dated December 30th, 2016 of the SBV Governor stipulating the capital adequacy ratios for the commercial banks and the foreign banks’ branches in line with Basel II standards (hereinafter referred to as Circular 41), starting from October 1st, 2019.
Shinhan Bank Vietnam is responsible for transferring the main operations of the GIS / RISK system to the backup system as planned; complying with Circular 41 and the statistical reporting mechanisms on capital adequacy ratios in line with Circular 41 under the guidance of the SBV... During the period from October 1, 2019 to the end of December 31, 2019, Shinhan Bank Vietnam shall simultaneously implement the regime of reporting on the minimum capital adequacy ratios in accordance with Circular 41 and Circular 36/2014/TT-NHNN dated November 20, 2014 stipulating the minimum safety limits and ratios for transactions performed by credit institutions and foreign banks’ branches.
Decision No. 1966/QD-NHNN took effect from the date of its signing.
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