Decree No. 146/2024/NĐ-CP amends, supplements, and abolishes certain Articles of Decree No. 102/2022/NĐ-CP dated December 12, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam, and Decree No. 26/2014/NĐ-CP dated April 7, 2014 of the Government on the organization and operation of the Banking Inspection and Supervision Agency which has been amended and supplemented by Decree No. 43/2019/NĐ-CP dated May 17, 2019 of the Government.

DECREE

Amending, supplementing, and abolishing certain Articles of Government Decree No. 102/2022/NĐ-CP dated December 12, 2022, which stipulates the functions, tasks, powers, and organizational structure of the State Bank of Vietnam, and Government Decree No. 26/2014/NĐ-CP dated April 7, 2014, on the organization and operation of the Banking Inspection and Supervision Agency, which has been amended and supplemented by Government Decree No. 43/2019/NĐ-CP dated May 17, 2019.

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Provisions of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to the Inspection Law on November 14, 2022;

Pursuant to the Law on Prevention and Combating Money Laundering dated November 15, 2022;

Pursuant to the Law on Handling Administrative Violations dated June 20, 2012; the Law Amending and Supplementing Certain Provisions of the Law on Handling Administrative Violations dated November 13, 2020;

At the proposal of the Governor of the State Bank of Vietnam;

The Government promulgates this Decree to amend, supplement, and abolish certain Articles of Government Decree No. 102/2022/NĐ-CP dated December 12, 2022, which stipulates the functions, tasks, powers, and organizational structure of the State Bank of Vietnam, and Government Decree No. 26/2014/NĐ-CP dated April 7, 2014, on the organization and operation of the Banking Inspection and Supervision Agency, which has been amended and supplemented by Government Decree No. 43/2019/NĐ-CP dated May 17, 2019.

Article 1. Amend and supplement Article 3 of Government Decree No. 102/2022/NĐ-CP dated December 12, 2022, which stipulates the functions, tasks, powers, and organizational structure of the State Bank of Vietnam, is as follows:

"Article 3. Organizational Structure

1. Department of Monetary Policy.

2. Department of Foreign Exchange Management.

3. Department of Payment.

4. Department of Credit for Economic Sectors.

5. Department of Forecasting, Statistics - Monetary and Financial Stability.

6. Department of International Cooperation.

7. Department of Internal Audit.

8. Legal Affairs Department.

9. Department of Finance and Accounting.

10. Department of Organization and Cadres.

11. Department of Communication.

12. Office;

13. Information Technology Agency.

14. Issuance and Treasury Agency.

15. State Foreign Exchange Reserve Management Agency.

16. Anti-Money Laundering Agency.

17. Administrative Services Agency.

18. Trading Department.

19. Banking Inspection and Supervision Authority.

20. Branches in provinces and centrally governed cities.

21. Institute of Banking Strategy.

22. National Credit Information Center of Vietnam.

23. Banking Times.

24. Banking Magazine.

25. Banking Academy.

Units specified from Clause 1 to Clause 20 of this Article are administrative units assisting the Governor of the State Bank of Vietnam in performing state management functions and central bank functions; units specified from Clause 21 to Clause 25 of this Article are public service units serving the state management functions of the State Bank of Vietnam.

The Monetary Policy Department, the Forecasting, Statistics - Financial Stability Department, and the Foreign Exchange Management Department each have six divisions. The Credit to Industries Department, the Organization and Cadre Affairs Department, the Finance and Accounting Department, and the International Cooperation Department each have five divisions. The Payment Department and the Internal Audit Department each have four divisions. The Legal Affairs Department has three divisions.

The Governor of the State Bank of Vietnam shall submit to the Prime Minister for issuance of a Decision stipulating the functions, tasks, powers, and organizational structure of the Banking Inspection and Supervision Agency and the list of other public service units under the State Bank of Vietnam.

The Governor of the State Bank of Vietnam shall issue decisions stipulating the functions, tasks, powers, and organizational structure of units under the State Bank of Vietnam in accordance with the law, except for the Banking Inspection and Supervision Agency."

Article 2. Amending, supplementing, and abolishing certain Articles of Government Decree No. 26/2014/NĐ-CP dated April 7, 2014, on the organization and operation of the Banking Inspection and Supervision Agency, which has been amended and supplemented by Government Decree No. 43/2019/NĐ-CP dated May 17, 2019.

1. Amending and supplementing Article 1 of Government Decree No. 26/2014/NĐ-CP as follows:

"Article 1. Scope of Regulation

This Decree stipulates the organization and operation of the Banking Inspection and Supervision Agency; banking inspectors; responsibilities of agencies, organizations, and individuals in the activities of the Banking Inspection and Supervision Agency.

2. Amending Clause 2 of Article 2 of Government Decree No. 26/2014/NĐ-CP as follows:

"2. The objects of inspection and supervision of the Banking Inspection and Supervision Agency (hereinafter referred to collectively as banking inspection and supervision objects):

a) Banking inspection and supervision objects as defined in Article 56 of the Law on the State Bank of Vietnam, including policy banks and subsidiaries of credit institutions;

b) Other objects as prescribed by law."

3. Amending and supplementing Article 6 of Government Decree No. 26/2014/NĐ-CP, which has been amended and supplemented by Clause 2 of Article 1 of Government Decree No. 43/2019/NĐ-CP, as follows:

"Article 6. System of Organizations of the Banking Inspection and Supervision Agency

The Banking Inspection and Supervision Agency is an inspection body within the State Bank of Vietnam, organized into a system comprising:

1. The Banking Inspection and Supervision Agency directly under the State Bank of Vietnam.

2. The Banking Inspection and Supervision Bureau under the Banking Inspection and Supervision Agency.

3. Banking Inspection and Supervision under the State Bank of Vietnam branch in provinces and centrally-administered cities (hereinafter referred to as Banking Inspection and Supervision of the State Bank of Vietnam branch)."

4. Amending and supplementing Clause 1 and Clause 2 of Article 7 of Government Decree No. 26/2014/NĐ-CP, which has been amended and supplemented by Clause 3 of Article 1 of Government Decree No. 43/2019/NĐ-CP, as follows:

"1. The Banking Inspection and Supervision Agency is a unit equivalent to a General Administration, directly under the State Bank of Vietnam, performing advisory and assistance functions to the Governor of the State Bank of Vietnam in managing credit institutions, foreign bank branches, banking inspection and supervision work, citizen reception, complaint and denunciation resolution, anti-corruption, and deposit insurance; implementing administrative inspections, specialized inspections, and banking supervision in areas under the State Bank of Vietnam's jurisdiction, citizen reception, complaint and denunciation resolution, and anti-corruption according to the law and the Governor's assignment.

2. The organizational structure of the Banking Inspection and Supervision Agency includes Departments, Bureaus, and the Office (collectively referred to as units under the Banking Inspection and Supervision Agency).

The Director of the Banking Inspection and Supervision Bureau may issue inspection decisions for assigned inspection objects (except for inspections decided by the Chief Inspector and Supervisor according to Clause 3 of Article 8 of this Decree), and perform the duties and powers of the decision-maker and administrative penalty enforcement according to the law."

5. Amending and supplementing Article 8 of Government Decree No. 26/2014/NĐ-CP, which has been amended and supplemented by Clause 4 of Article 1 of Government Decree No. 43/2019/NĐ-CP, as follows:

"Article 8. Duties and Powers of the Chief Inspector and Supervisor

The head position of the Banking Inspection and Supervision Agency is the Chief Inspector and Supervisor. The Chief Inspector and Supervisor performs the following duties and powers:

1. Leading, directing, and inspecting inspection and supervision work within the State Bank of Vietnam's jurisdiction; leading the Banking Inspection and Supervision Agency to perform duties and powers according to the law."

2. Address overlapping and duplication in the activities of inspection agencies within the State Bank of Vietnam as stipulated in point g, clause 2, Article 55 of the Inspection Law; report to the Chief Inspector of the Government for consideration and decision on overlapping and duplication in the activities of inspection agencies within the State Bank of Vietnam with those of inspection agencies under government bodies as stipulated in point d, clause 2, Article 55 of the Inspection Law.

3. Issue inspection decisions for banking inspection objects within the jurisdiction of the State Bank of Vietnam pursuant to the division of labor by the Governor of the State Bank of Vietnam or at the request of the Governor of the State Bank of Vietnam, including administrative inspections, inspections to resolve complaints and denunciations, inspections of anti-corruption work, major and complex specialized inspections, re-inspections, or when deemed necessary; perform the duties and powers of the person issuing the inspection decision; request the Director of the State Bank of Vietnam branch to appoint banking inspectors and other civil servants to join the inspection team; summon civil servants and staff from relevant agencies and units to participate in the inspection team.

4. Decide to inspect when signs of violation of laws by banking inspection objects are discovered or when signs of risks threatening the safety of operations of credit organizations and foreign bank branches are detected.

5. Decide to re-inspect cases that have been concluded by the Banking Inspection and Supervision Department, the Banking Inspection and Supervision Branch but signs of violations of laws are found through reviewing and handling complaints, denunciations, recommendations, and reflections.

6. When signs of violation of laws or signs of risks threatening the safety of operations of credit organizations and foreign bank branches are discovered, request the Director of the State Bank of Vietnam branch to instruct the Banking Inspection and Supervision Branch to conduct inspections on banking inspection objects assigned by the Governor of the State Bank of Vietnam; if the Director of the State Bank of Vietnam branch does not comply with the request, report to the Governor of the State Bank of Vietnam for consideration and decision.

7. Review and handle issues related to inspection and supervision work where the Head of the Banking Inspection and Supervision Branch disagrees with the Director of the State Bank of Vietnam branch; if the Director of the State Bank of Vietnam branch does not agree with the handling, the Head of the Banking Inspection and Supervision Branch reports to the Governor of the State Bank of Vietnam for consideration and decision.

8. Recommend the Governor of the State Bank of Vietnam to suspend, within his authority, the implementation of decisions contrary to the law discovered through inspection and supervision.

9. Recommend the Governor of the State Bank of Vietnam to resolve issues related to inspection and supervision work.

10. Recommend competent state agencies to amend, supplement, or issue regulations in accordance with management requirements; recommend suspension, cancellation, or abolition of regulations contrary to the law discovered through inspection and supervision.

11. Administer administrative penalties or recommend authorities with the power to administer administrative penalties to do so according to the law on handling administrative violations.

12. Recommend the Governor of the State Bank of Vietnam to consider responsibility and handle persons under his management who violate the law discovered through inspection and supervision or fail to implement conclusions, recommendations, and decisions on inspection and supervision; require heads of other agencies and organizations to consider responsibility and handle persons under their management who violate the law discovered through inspection and supervision or fail to implement conclusions, recommendations, and decisions on inspection and supervision.

13. Recommend the Governor of the State Bank of Vietnam to decide and organize the implementation of measures to ensure the safety of banking operations for agencies, organizations, and individuals within the scope of state management of the State Bank of Vietnam.

14. Report to the Governor of the State Bank of Vietnam and the Chief Inspector of the Government on inspection work within the assigned responsibilities; report to the Governor of the State Bank of Vietnam on other aspects of the work of the Banking Inspection and Supervision Agency.

15. Inspect and check the responsibility of heads of agencies and units under the management of the State Bank of Vietnam in implementing policies, laws, tasks, and powers delegated to them.

16. Decide on the banking inspector and other civil servants under the Banking Inspection and Supervision Agency to conduct meetings and direct contacts with banking surveillance objects.

17. Decide on the level of supervision for banking surveillance objects, except in cases decided by the Governor of the State Bank of Vietnam.

18. Perform other duties and powers as prescribed by law or assigned by the Governor of the State Bank of Vietnam.

6. Amend and supplement Article 18 of Decree No. 26/2014/ND-CP which has been amended and supplemented in clause 6, Article 1 of Decree No. 43/2019/ND-CP as follows:

"Article 18. Authority to issue inspection decisions and re-inspection decisions

1. The Head of the Banking Inspection and Supervision Agency, the Director of the Banking Inspection and Supervision Department, and the Head of the Banking Inspection and Supervision Branch shall issue inspection decisions.

2. The Head of the Banking Inspection and Supervision Agency shall decide to re-inspect cases that have been concluded by the Director of the Banking Inspection and Supervision Department, the Head of the Banking Inspection and Supervision Branch but signs of violations of laws are found through reviewing and handling complaints, denunciations, recommendations, and reflections."

7. Amend Article 29 of Decree No. 26/2014/ND-CP as follows:

"Article 29. Building policies and regulatory legal documents

The Banking Inspection and Supervision Agency shall assist the Governor of the State Bank of Vietnam in building and issuing, within his authority, or submitting to the competent authority for issuance, policies and regulatory legal documents on organization, operation, safety of banking operations, banking inspection and supervision, deposit insurance within the scope of the State Bank of Vietnam's management responsibilities."

8. Repeal Article 13 of Decree No. 26/2014/ND-CP.

Article 3. Effectiveness and Responsibility for Implementation

1. This Decree shall take effect from January 5, 2025.

The Governor of the State Bank, the Minister, the Head of a ministerial-level agency, the Head of an agency under the Government, the Chairman of the People's Committee of a province or centrally governed city, the Director of Banking Inspection and Supervision, and related agencies shall be responsible for implementing this Decree.