State Bank of Vietnam reports on the situation of foreign credit institutions before August 31 and April 30 annually

State Bank of Vietnam reports on the situation of foreign credit institutions before August 31 and April 30 annually, Circular 84/2020/TT-BTC

State Bank of Vietnam reports on the situation of foreign credit institutions before August 31 and April 30 annually (Illustrative image)

Article 4 Circular 84/2020/TT-BTC amends and supplements Clause 2, Article 10 of Circular 16/2018/TT-BTC dated February 7, 2018, issued by the Ministry of Finance of Vietnam, guiding several provisions on financial policies for credit institutions and branches of foreign banks. It stipulates that the State Bank of Vietnam is responsible for:

- Periodically every 6 months (before August 31) and annually (before April 30 of the following year), the State Bank of Vietnam shall notify the Ministry of Finance of Vietnam of the financial situation of credit institutions and branches of foreign banks as prescribed in Clause 2, Article 38 of Decree 93/2017/ND-CP, specifically according to the following indicators (classified by type of credit institution):

- Number of credit institutions and branches of foreign banks.- Total charter capital, owner's equity, assets, total outstanding loans, total mobilized capital, bad debt ratio, and safety ratios in the operations of credit institutions and branches of foreign banks.- Total profit (loss) and the number of credit institutions and branches of foreign banks operating profitably (at a loss).- Financial situation, operational efficiency of credit institutions in which the State holds more than 50% of charter capital.- Other relevant indicators and contents.- Violations of financial policies by credit institutions and branches of foreign banks detected during inspection and supervision.

- Reporting period:

- For 6-month reports: From January 1 of the reporting period to the end of June 30 of the reporting period (except for data reflected at a specific point in time).- For annual reports: From January 1 of the reporting year to the end of December 31 of the reporting year (except for data reflected at a specific point in time).

- Reporting methods:

- Direct submission in paper form;

- Submission through postal services in paper form;

- Submission via email system or specialized reporting information software system;

- Other methods as prescribed by law.

For more details, see the regulations in Circular 84/2020/TT-BTC, effective from November 15, 2020.

Le Vy

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