Vietnam: Procedures for inspection of electronic reporting forms applicable to credit institutions

According to Article 13 of the Circular No. 35/2015/TT-NHNN of the State Bank of Vietnam, procedures for inspection of electronic reporting forms applicable to credit institutions and branches of foreign banks are as follows:

- At Banking Supervision and Inspection Agencies and Departments:

+ Within 02 working days from the deadline for submission stated on the written reporting form, the Banking Supervision and Inspection Agency and Department shall inspect the reliability and validity of such report. In case of absence or inaccuracy of reported figures, the Banking Supervision and Inspection Agency and Department shall request the reporting unit to correct and complete the report by phone or fax;

+ Within 01 working days from the date of receipt of such request, the reporting unit shall submit the complete report or correct figures to the Banking Supervision and Inspection Agency and Department;

- At branches of the State Bank of provinces:

+ Within 02 working days from the deadline for submission stated on the written reporting form applicable to the People's Credit Fund, the branch of the State Bank of the province shall inspect the reliability and validity of such report within its province. In case of absence or inaccuracy of reported figures, the branch of the State Bank of the province shall request the People's Credit Fund to correct and complete the report by phone or fax;

+ After receipt of resubmission from the People's Credit Fund in writing, the branch of the State Bank of the province shall fully and accurately aggregate reported figures and submit them to the Information Technology Administration via the electronic report submission system.

- At People's Credit Funds: Within 02 working days from the date of receipt of notification of inspection by phone or fax from the branch of the State Bank of the province, and Department; the People’s Credit Fund shall resubmit complete report or correct figures to the branch of the State Bank of the province.

View more details at the Circular No. 35/2015/TT-NHNN of the State Bank of Vietnam, effective from January 01, 2017.

Le Vy

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