On November 20, 2019 in Hanoi, the State Bank of Vietnam (SBV) in collaboration with the Central Bank of Korea (BOK) and the Korea International Economic Policy Institute (KIEP) organized a Seminar to present the Advisory Report of the Bank of Korea - Knowledge Partnership Program (BOK-KPP) in 2019.
Attending the Seminar, on the side of the SBV, there were leaders and officials of the Monetary and Financial Stabilization Department, the Monetary Policy Department, the International Cooperation Department, the Banking Supervision Agency and the National Credit Information Centre of Viet Nam (CIC). On the Korea’s side, there were members in charge of the BOK-KPP Program under the International Affairs Department of the BOK and the KIEP Research Team. In particular, joining the Korean team this year, there were two former leaders of the Bank of Korea, Mr. Byung-hwa Jang – Project Manager, Senior Advisor of the 2019 BOK-KPP, former Senior Deputy Governor of the BOK (former Deputy Governor in the period of 2009 - 2012 and Senior Deputy Governor in the period of 2014 - 2017) and Professor Tae Soo Kang - former BOK Deputy Governor in charge of financial stability (in the period of 2012 - 2014).
At the Seminar, the topics discussed focused on: (i) General introduction to the 2019 Advisory Report; (ii) Strengthening the Systematic Risk Monitoring Mechanism in Vietnam; (iii) Challenges encountered by the SBV; (iv) Systematic Risk Assessment: Financial Stress Index (FSI); (v) Analysis on Effects of the Loan to Value (LTV) ratio and Debt to Income (DTI) ratio Policy in Korea.
According to the evaluation of beneficiaries of the SBV, since the application of the format of the annual in-depth advisory reports at the request of the SBV (since 2016), the BOK - KPP has received positive reviews and feedbacks from the relevant units of the SBV. Mr. Nguyen Vinh Hung - Deputy Director General of the Monetary and Financial Stabilization Department affirmed that the expert team's advisory reports have been developed based on the needs of the beneficiaries and have been carefully prepared and formulated, pointing out the challenges and the outstanding issues, as well as introducing practical valuable lessons from Korea for the issues that the SBV is interested in or is prioritizing to deal with. The program's advisory report also provides useful recommendations for the SBV, and is regarded as a valuable reference for the agencies in the process of policy formulation and administration.
Participants attend the BOK - KPP 2019 Final Seminar
Also at the seminar, the representatives of the program's expert group wished to receive further feedbacks from the SBV on the program results in 2019, as well as the needs for 2020, in order to have some basis for planning and setting orientations for the cooperation between the SBV and the BOK in the framework of the next BOK - KPP in 2020.
VA