Vietnam: Regulation on establishment of disaster recovery systems of credit institutions

According to the Circular No. 09/2020/TT-NHNN of the State Bank of Vietnam:

1. Each institution shall establish a disaster recovery system which must meet the following requirements:

- It is required to carry out risk assessment and consider the possibility of disasters having impact on both main information system and disaster recovery system when selecting the location of the disaster recovery system such as natural disaster including earthquake, flood, hurricanes and pandemics, disasters caused by human and technologies including power network incidents, fire, traffic incidents and cybersecurity attacks;

- The location of the disaster recovery system must meet the requirements laid down in Article 17 hereof;

- The disaster recovery system must be capable of substituting the main system for a period of: (i) 4 hours after in respect of an information system of level 3 or higher (except information systems that process classified state information); (ii) 24 hours in respect of an information system that processes classified state information; (iii) or an amount of hours prescribed by the institution in respect of other systems.

2. Any institution which has only one working office in Vietnam (excluding microfinance institutions and local people’s credit funds) must establish a standby office at another location which is separated from its working office and equipped with necessary devices to ensure continuous operation substituting the working office.

View more details at the Circular No. 09/2020/TT-NHNN of the State Bank of Vietnam, effective from January 01, 2021.

Thuy Tram

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