Authority to Issue Inspection Decisions of the Chief Inspector, Banking Supervision

01:14, 10/07/2024

Recently, the Governor of the State Bank of Vietnam signed and promulgated Circular 10/2019/TT-NHNN amending and supplementing a number of articles of Circular 36/2016/TT-NHNN prescribing the order and procedures for banking sector specialized inspection.

According to the regulations in Circular 10/2019/TT-NHNN, the Chief Inspector and Supervisor of Banks will have the authority to issue inspection decisions and re-inspection decisions for the following cases:

inspection decision authority, bank supervision, Circular 10/2019/TT-NHNN

Illustration (internet source)

- Issue inspection decisions for banking inspection subjects under the management of the State Bank of Vietnam as assigned by the Governor of the State Bank of Vietnam or at the request of the Governor of the State Bank of Vietnam, including inspections of anti-corruption work, large and complex sectoral inspections, re-inspections, or when deemed necessary;- Decide on an inspection when there are signs of legal violations by the banking inspection subject or signs of risks threatening the safety of the operation of credit institutions, foreign bank branches, and be accountable to the Governor of the State Bank of Vietnam for their decisions;- When there are signs of legal violations or signs of risks threatening the safety of the operation of credit institutions, foreign bank branches, request the Director of the State Bank branch to conduct inspections of banking inspection subjects under the management of the State Bank branch as assigned by the Governor of the State Bank of Vietnam; in cases where the Director of the State Bank branch does not agree, the Chief Inspector has the right to issue inspection decisions, report and be accountable to the Governor of the State Bank of Vietnam for their decision;- Decide on the re-inspection of cases that have been concluded by the Chief Inspector and Supervisor of the State Bank branch but found signs of legal violations; cases concluded by the Chairman of the Provincial People's Committee, Director of the State Bank branch but detected signs of legal violations as assigned by the Governor of the State Bank of Vietnam.

See additional regulations in Circular 10/2019/TT-NHNN effective from September 15, 2019.

Thu Ba

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