Vietnam: How to handle when documents, data and information serving banking supervision are wrong, error or missing from September 1, 2022?
What are the sources of documents, information and data when performing banking supervision in Vietnam?
Pursuant to Article 7 of Circular 08/2022/TT-NHNN stipulating as follows:
“Article 7. Collection of documents, information and data
1. Sources of documents, information and data serving banking supervision include:
a) Data and reports according to current regulations on statistical reporting regime of the State Bank;
b) Customer data of the subject of banking supervision from the Vietnam National Credit Information Center (hereinafter referred to as CIC), information sources and documents serving supervision from the Cooperative Bank Vietnam, Vietnam Deposit Insurance;
c) Information from inspection, inspection and post-inspection handling;
d) Information from licensing activities of the State Bank;
d) Independent audit results;
e) Information from ranking and rating results of state management agencies;
g) Report on safety supervision of surgical site, macroscopic, handling measures in monitoring of macroscopic and macroscopic safety
h) Report at the request of the State Bank and other competent authorities;
i) Requests of competent state agencies to subjects of banking supervision, including written instructions and requests of units affiliated to the State Bank;
k) Working minutes, explanatory documents, documents and data provided by the subject of banking supervision:
l) Documents, information and data collected from units of the State Bank and other sources (if any).
2. The unit performing macro-prudential supervision collects documents, information and data from the sources specified at Points a, b, c, d, dd, e, g, Clause 1 of this Article through the system Electronic statistical reporting system of the State Bank, information system supporting remote monitoring activities.
3. The unit performing safety supervision for surgery collects documents, information and data received from the sources specified at Points h, i, k, 1, Clause 1 of this Article.
4. Based on the requirements of banking supervision, the unit implementing macroprudential supervision shall request or submit to the Chief Inspector, bank supervisor or the Director of the State Bank's branch to request the subject of banking supervision. customers providing documents, information and data other than the documents, information and data specified in Clause 1 of this Article.”
Thus, in the process of carrying out banking supervision, documents will be obtained from the sources as prescribed above.
Vietnam: How to handle when documents, data and information serving banking supervision are wrong, error or missing from September 1, 2022?
How to handle when documents, data and information serving banking supervision in Vietnam are wrong, error or missing?
Pursuant to Article 8 of Circular 08/2022/TT-NHNN stipulating as follows:
“Article 8. Processing, updating and synthesizing documents, information and data
Based on the sources of documents, information and data specified in Article 1 of this Circular, the microprudential supervision unit shall process and summarize as follows:
1. For documents, information and data that are automatically updated from the electronic statistical reporting system of the State Bank, from the CIC into the information system supporting remote supervision, the unit perform macro-prudential supervision, handle according to regulations on statistical reporting regime of the State Bank and Regulation on administration, operation and use of information system software to support supervision activities from far away.
2. For other documents, information and data not specified in Clause 1 of this Article, the unit performing microprudential supervision shall do the following:
a) Reviewing the logic and reasonableness of information by comparing and contrasting collected documents, information and data with historical data to detect unusual or illogical problems or illogical;
b) Update necessary documents, information and data into the information system to support remote monitoring as prescribed in the Regulation on administration, operation and use of supporting information system software. remote monitoring activities issued by the Governor of the State Bank.
3. When detecting documents, information, data that are missing, error, wrong or need clarification as required by the macro safety supervision, the unit performing microprudential supervision requires or submits it to the competent authority. has the authority to request the subject of banking supervision to report and give explanations through the form of contact with the subject of banking supervision specified in Chapter IV of this Circular.
4. Based on the information that has been collected and processed, the macro-prudential monitoring unit shall implement the contents specified in Sections 2 and 3 of this Chapter.”
Thus, the processing, updating and synthesis of documents, information and data for banking supervision shall comply with the above provisions.
In case it is discovered that documents, information, data are missing, error, wrong or need to be clarified at the request of the microprudential supervision, the monitoring unit will request or submit a request for clarification.
What are the principles of banking supervision in Vietnam?
Pursuant to Article 4 of Circular 08/2022/TT-NHNN stipulates as follows:
“Article 4. Principles of banking supervision Bank supervision shall comply with the following principles:
1. The principles specified in Article 51 of the Law on the State Bank of Vietnam, Article 4 of Decree No. 26/2014/ND-CP dated April 7, 2014 of the Government (amended and supplemented regulations on organization functions and activities of the Banking Inspectorate and supervision.
2. Principles of combining compliance monitoring with risk monitoring, microprudential supervision with microprudential supervision.”
Thus, the banking supervision must ensure that it is carried out according to the above principles.
Circular 08/2022/TT-NHNN will take effect from September 1, 2022.
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