Circular No. 33/2015/TT-NHNN of the State Bank of Vietnam on prudential ratios of microfinance institutions (MFIs) issued on December 31 has specified internal regulations on liquidity management of MFIs.
According to Circular No. 33/2015/TT-NHNN of the State Bank of Vietnam (SBV), internal regulations on liquidity management shall include, inter alia, the following:
- Assignment of person(s) to monitor the solvency of the MFI;
- Plans for payment of deposits (including voluntary deposits and compulsory savings) in case of failure to maintain the solvency ratio;
- Regulations on management of budget, receipts, payments, daily fund sources and holding of financial instruments which can be quickly converted into cash.
Moreover, within 10 business days from the date of promulgation or revision of the internal regulations on liquidity management, the MFI must send, either directly or by post, such promulgated or revised internal regulations on liquidity management to the SBV’s branch of the province or central-affiliated city where the Office of the Banking Supervision Agency is not located or to the Office of the Banking Supervision Agency at the place where the MFI’s headquarters is located.
View more details at Circular No. 33/2015/TT-NHNN of the State Bank of Vietnam, effective from March 01, 2016.
- Khanh Chi -
Address: | 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City |
Phone: | (028) 7302 2286 |
E-mail: | info@lawnet.vn |