The State Bank of Vietnam (SBV) issued Decision No. 845/QD-NHNN dated April 22, 2019 on the implementation of Circular No.41/2016 /TT-NHNN of Asia Commercial Joint Stock Bank (ACB).
The State Bank of Vietnam (SBV) issued Decision No. 845/QD-NHNN dated April 22, 2019 on the implementation of Circular No.41/2016 /TT-NHNN of Asia Commercial Joint Stock Bank (ACB).
Accordingly, ACB 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.
ACB is responsible for (i) developing internal regulations on hiring external experts and organizations to implement the Internal Audit in accordance with the plan defined by the ACB in Document No. 994/CV-Basel.18 dated April 4th, 2019 of the ACB; (ii) ensuring safety and security for the operations of the CAR calculation system in accordance with Circular No. 18/2018/TT-NHNN and the the plan defined by the ACB in Document No. 994/CV-Basel.18 dated April 4th, 2019; (iii) 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. 845/QD-NHNN takes effect from the date of signing
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