In Hanoi, the State Bank of Vietnam (SBV) issued Decision No. 758/QD-NHNN on the implementation of Circular No. 41/2016 / TT-NHNN of the Military Commercial Joint Stock Bank (MB).
Accordingly, MB 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.
MB is responsible for finalizing the contents of the above-mentioned Decision, ensuring compliance with the provisions of Circular 41 from May 1st, 2019: (i) continuing to implement the contents stipulated in the commitment plan in Document No. 1353/MB-HS of March 25th, 2019 (transferring the official operations from the main system to the backup system for at least 1 working day for the ORS system; re-issuing a document regulating data checking and comparison process at MB in 2019; promulgating separate maintenance regulations for ORS system, specifying the steps and frequency of implementation); (ii) 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. 758/QD-NHNN takes effect from April 12th, 2019.
VA