Official Dispatch No. 728/TTGSNH6 dated February 20, 2024 on reporting the implementation of Circular No. 13/2018/TT-NHNN (amended)

To:

- Commercial banks;
- Foreign bank branches (FBBs).

Circular No. 13/2018/TT-NHNN on Internal Control Systems of Commercial Banks and FBBs, which was promulgated by the Governor on may 18^th 2018 and came into force from January 1^st 2018, has been implemented for 5 years. In order to evaluate the effectiveness of policy-making, thereby complete the legal framework for new issues concerning internal control, risk management, internal audit of credit institutions, the State Bank of Vietnam requests commercial banks and FBBs to submit reports on their implementation of Circular No. 13/2018/TT-NHNN (amended). Each report shall have the following contents:

- Assessment of the deployment of the internal control system, including: (i) Supervision by senior managers; (ii) Internal control; (iii) Risk management; (iv) Internal assessment of capital adequacy; (v) Internal audit.

- Difficulties that arise during the implementation (with explanation and evidence), and proposed amendments (if any).

- Proposal of contents that are necessary for improvement of the internal control system (associated with experience or good practice, if any).

Physical reports shall be sent to Bank Supervision and Inspection Agency before March 17^th 2024. Reports in Microsoft Word format shall be sent to [email protected].

Contact: Banking Security Policy Department, Bank Supervision and Inspection Agency, State Bank of Vietnam. Phone number: 024.39361079).

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PP CHIEF BANKING INSPECTOR AND SUPERVISOR
DEPUTY CHIEF BANKING INSPECTOR AND SUPERVISOR




Pham Huyen Anh