04 requirements for the information technology system of banks in Vietnam

14:50, 06/01/2017

On December 30, 2016, the State Bank of Vietnam issued Circular No. 41/2016/TT-NHNN prescribing prudential ratios for operations of banks and/or foreign bank branches.

According to Circular No. 41/2016/TT-NHNN of the State Bank of Vietnam, the information technology system must ensure conformance to the following minimum requirements:

- Promote connection and centralized management in the entire system, ensure information security, safety and effectiveness upon calculation of the capital adequacy ratio;

- Prepare tools to enhance connection with other systems to ensure accurate and timely calculation of the own equity and total asset based on credit risks, regulatory capital for particular risks and capital adequacy ratio;

- Have the processes of reviewing, examining, providing for and responding to any failures or breakdowns, and periodic and regular maintenance processes;

- Meet requirements set out in the internal rules of banks and/or foreign bank branches, and regulations of the State Bank on the reporting and statistical regime.

View relevant provisions at Circular No. 41/2016/TT-NHNN of the State Bank of Vietnam, effective from January 01, 2020.

- Thanh Lam -

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