On June 7th, 2019, the State Bank of Vietnam (SBV) issued Decision No. 1200/QD-NHNN on the implementation of Circular No. 41/2016/TT-NHNN of Vietnam Technological and Commercial Joint Stock Bank (Techcombank).
Techcombank implements Circular No. 41/2016/TT-NHNN
Accordingly, Techcombank shall implement Circular No. 41/2016/TT-NHNN dated December 30th, 2016 issued by 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 July 1st, 2019.
Techcombank is responsible for officially putting the new system of capital adequacy ratio calculation into operation on June 22nd, 2019 at the latest; issuing or supplementing internal regulations on key activities as committed in Document No.5040/2019/TGD-TCB dated June 4th, 2019 of Techcombank, complying with Circular 41 and the reporting mechanisms on capital adequacy ratio statistics in line with Circular 41 and the guidance of the SBV.
In combination with the implementation of Circular 41, from July 1st, 2019 to December 31st, 2019, Techcombank shall also comply with the reporting mechanism on capital adequacy ratio stipulated in Circular No.36/2014/TT-NHNN dated November 20th, 2014 of the SBV Governor on capital adequacy ratio for the commercial banks and the foreign banks’ branches.
Decision No. 1200/QD-NHNN takes effect from the date of signing.
MH