On October 25, 2019, the Governor of the State Bank of Vietnam (SBV) issued Decision No. 2233/QD-NHNN on the implementation of Circular No. 41/2016/TT-NHNN by Viet Capital Commercial Joint Stock Bank (Viet Capital Bank).
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Accordingly, Viet Capital Bank 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 November 1, 2019.
Viet Capital Bank is responsible for transferring the formal operations from the main system to the backup system for the capital adequacy ratio system in accordance with the reported plan in Official Letter No. 2132/2019/CV-QLRR dated August 30, 2019 to ensure continuous operations of the system in the event of a disaster.
Viet Capital Bank must comply 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 November 1, 2019 to the end of December 31, 2019, Viet Capital Bank 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. 2233/QD-NHNN took effect from the date of its signing.
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