Vietnam: Responsibility for reporting and information disclosure of the deposit insurance organization

Tuyet Hoan

09:20, 20/09/2013

The Law on deposit insurance 2012 of Vietnam was promulgated on June 18, 2012, of which one of the fundamental contents is the regulation on the responsibility for reporting and information disclosure of the deposit insurance organization.

Specifically, according to Article 33 of the Law on deposit insurance 2012 of Vietnam, the deposit insurance organization is responsible for making report to the State Bank of Vietnam on the following information:

- Information on the compliance with the regulation of the law on deposit insurance of the deposit insurance participating organization every 06 months periodically or irregularly on the requirement of the State Bank of Vietnam;

- Giving information on the payment of premium to the insured person of deposit every 06 months periodically or irregularly on the requirement of the State Bank of Vietnam;

- The result of duties implementation prescribed in clause 10, Article 13 of this Law quarterly or irregularly on the requirement of the State Bank of Vietnam;

- The annual financial statement audited and the annual operation report;

- Other information on the operation of deposit insurance on the requirement of the State Bank of Vietnam.

The deposit insurance organization is responsible for disclosing information on the revocation of the Certificate of deposit insurance participation and the plan for premium payment to the insured persons of deposit as prescribed in clause 3, Article16 and clause 3, Article 26 of this Law.

View more: The Law on deposit insurance 2012 of Vietnam takes effect from January 01, 2013.

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