ORDER AND PROCEDURES FOR BANKING SUPERVISION
The order and procedures for banking supervision is provided in the State Bank of Vietnam’s Circular No. 08/2022/TT-NHNN on June 30, 2022.
In accordance with this Circular, the order and procedures for banking supervision comprise 3 steps as follows: Step 1: Collecting, synthesizing, and processing documents, information, and data; Step 2: Performing compliance supervision and/or risk supervision; Step 3: Making a supervision report, proposing handling measures. The monitoring, urging and examination of the implementation of inspection conclusions by credit institutions and foreign bank branches shall comply with the Government’s regulations on the implementation of inspection conclusions and provisions of this Circular.
Besides, documents, information, and data, after being synthesized and processed, shall be stored, and managed to serve banking inspection and supervision activities following the principles below: Adequate documents, information and data shall be preserved in a scientific manner by dossier of object of banking supervision and the entire system; Collected documents, information and data must be archived in accordance with current regulations on archiving; The management, storage and use of documents, information, and data on the list of State secrets shall comply with the law provisions on protection of State secrets; The confidentiality of information and data of credit institutions and customers shall comply with the law provisions.
This Circular takes effect from September 01, 2022.
