Circular No. 34/2016/TT-NHNN on the provision of information between the State Bank of Vietnam and the Deposit Insurance Corporation of Vietnam

CIRCULAR
Regulations on information provision

between the State Bank of Vietnam and the Deposit Insurance Corporation of Vietnam

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Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Deposit Insurance No. 06/2012/QH13 dated June 18, 2012;

Pursuant to the Government Decree No. 68/2013/NĐ-CP dated June 28, 2013 detailing and guiding the implementation of the Law on Deposit Insurance No. 06/2012/QH13;

Pursuant to the Government Decree No. 156/2013/NĐ-CP dated November 11, 2013 stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of Banking Inspection and Supervision;

The Governor of the State Bank of Vietnam issues this Circular regulating the provision of information between the State Bank of Vietnam and the Deposit Insurance Corporation of Vietnam.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular stipulates the principles, scope, content, and methods of information provision between the State Bank of Vietnam (hereinafter referred to as the State Bank) and the Deposit Insurance Corporation of Vietnam.

Article 2. Applicability

1. The State Bank.

2. The Deposit Insurance Corporation of Vietnam.

3. Other organizations and individuals related to deposit insurance activities.

Article 3. Principles for providing, using, and managing information

1. Ensuring truthfulness, objectivity, timeliness, completeness, and accuracy.

2. Information provision, use, management, and security shall be carried out in accordance with the provisions of the law.

3. The party receiving the information shall use it to serve the performance of its assigned functions and tasks.

4. The Deposit Insurance Corporation of Vietnam shall not provide third parties with information provided by the State Bank, except when providing information to competent state agencies as prescribed by law or upon the directive of the Governor of the State Bank.

Chapter II

SPECIFIC PROVISIONS

Article 4. Scope of information provision

1. The Deposit Insurance Corporation of Vietnam shall be provided and utilize the information and reports detailed in Appendix 02 attached hereto. When necessary, the Deposit Insurance Corporation of Vietnam may submit a written request to the State Bank to consider and provide other information and reports not specified in Appendix 02 attached hereto for the purpose of performing its functions and tasks as prescribed by the Law on Deposit Insurance.

2. The Deposit Insurance Corporation of Vietnam shall report to the State Bank the information detailed in Appendix 01 attached hereto. When necessary, the Deposit Insurance Corporation of Vietnam shall provide other information and reports not specified in Appendix 01 attached hereto upon a written request from the State Bank.

Article 5. Methods of information provision

1. Provision of information and reports in written and electronic form applies to the information and reports specified in written and electronic form in Appendices 01 and 02 attached hereto.

2. For statistical reporting indicators of participating organizations that the Deposit Insurance Corporation of Vietnam is provided at Section I of Appendix 02 attached hereto, the Deposit Insurance Corporation of Vietnam shall directly access them according to the method guided by the Department of Information Technology.

Article 6. Network connection and electronic information provision process

1. The headquarters of the Deposit Insurance Corporation of Vietnam shall connect to the State Bank (Department of Information Technology) for data transmission and must have contingency plans to ensure receipt and submission of reports to the State Bank in accordance with Article 5 of this Circular.

2. In case of data transmission system failure, the Deposit Insurance Corporation of Vietnam shall directly transmit electronic reports to the State Bank (Department of Information Technology) through portable storage media.

Article 7. Review and Adjustment of Information

1. When the information recipient discovers errors or inconsistencies in the provided information, the information recipient shall submit a review request in writing to the information provider requesting a review or clarification.

2. Within two working days from the date of receipt of the review request, the information provider shall conduct a review and verification of the information and respond to the requesting party.

3. In case of adjustment to the previously provided information, the information provider shall proactively resend the adjusted information to the information recipient within two working days from the date of such adjustment.

4. The information provider shall be responsible for explaining and clarifying the information upon request by the information recipient.

Article 8. Time Limit for Sending Information

1. The time limit for sending information and reports is specifically stipulated in Appendix 01 and Appendix 02 attached hereto.

2. If the last day of the time limit for sending information and reports coincides with a public holiday, Tet holiday, or weekend, then the submission date for information and reports shall be the next working day following that date.

3. In cases where information and reports are sent in writing, the actual submission date of the information and reports shall be considered the date recorded on the postmark of the postal office receiving the sent information and reports. In cases where information and reports are submitted through the electronic reporting channel, the submission date of the information and reports shall be the date when the report file transmission is successful.

4. In urgent or unforeseen circumstances, units must send information and reports in writing via fax. After sending information and reports via fax, the reporting unit shall be responsible for officially submitting the information and reports in writing according to the provisions of Article 5 of this Circular. The actual submission date of the information and reports shall be considered the date of fax transmission.

Article 9. Utilization of Information at Units under the State Bank

1. Units under the State Bank (excluding units receiving reports as specified in Appendix 01 attached hereto) which require access to the information and reports of the Deposit Insurance Corporation of Vietnam must register in writing with the Banking Inspection and Supervision Authority for consolidation and submission to the Governor of the State Bank for approval.

2. Units and individuals permitted to utilize the information and reports shall be responsible for managing and using the information and reports, statistical data in accordance with their intended purpose and in compliance with legal regulations on information security.

Article 10. Responsibilities of Units under the State Bank

1. The Banking Inspection and Supervision Authority is responsible for:

a) To take the lead and coordinate with relevant units to provide information to the Deposit Insurance Corporation of Vietnam as prescribed in this Circular; To serve as the point of contact for receiving written requests from the Deposit Insurance Corporation of Vietnam to present to the Governor of the State Bank regarding other information and reports as stipulated in Clause 1 of Article 4 of this Circular;

b) To receive written suggestions regarding the implementation of this Circular, to coordinate with relevant units to respond to the Deposit Insurance Corporation of Vietnam; To monitor the handling of suggestions by relevant units;

c) To monitor, urge, and inspect the implementation of information provision to the Deposit Insurance Corporation of Vietnam as prescribed in this Circular;

d) To store, archive, and manage written reports directly received from the Deposit Insurance Corporation of Vietnam in accordance with current regulations on record management and document storage in the banking sector.

2. Responsibilities of the Department of Information Technology

a) To serve as the main unit organizing the reception and timely updating of all electronic reporting forms into the reporting system transmitted through the network or sent via portable media by the Deposit Insurance Corporation of Vietnam. In cases where reports contain errors in name, file structure, technical criteria, and missing reporting forms, it must request the Deposit Insurance Corporation of Vietnam to correct and resubmit according to the regulations; To promptly feedback on the status of data to the reporting unit. In cases of data transmission failures by the State Bank, immediate measures must be taken to resolve the issue;

b) To cooperate with the Deposit Insurance Corporation of Vietnam to ensure connectivity, maintenance, and the security and confidentiality of the data transmission network between the State Bank and the Deposit Insurance Corporation of Vietnam;

c) To take the lead and coordinate with units under the State Bank and the Deposit Insurance Corporation of Vietnam to address issues related to the electronic reporting program during the implementation of this Circular;

d) To guide the issuance, management of encryption keys, and digital signature programs used in the reporting system for the Deposit Insurance Corporation of Vietnam;

đ) To take the lead in building and coordinating with the Forecasting and Statistics Department and relevant units to guide regulations on the name, file structure of electronic reports and guide the Deposit Insurance Corporation of Vietnam to prepare and submit electronic reporting forms through the reporting system to implement this Circular;

e) To serve as the main unit implementing and guiding the Deposit Insurance Corporation of Vietnam to access the statistical reporting indicators specified in Section I of Appendix 02 attached hereto.

3. Other units under the State Bank:

a) To provide information to the Deposit Insurance Corporation of Vietnam as prescribed in this Circular;

b) To cooperate with the Banking Inspection and Supervision Authority to guide and promptly respond to the Deposit Insurance Corporation of Vietnam regarding issues related to their responsibilities in implementing this Circular;

c) To store, archive, and manage written reports directly received from the Deposit Insurance Corporation of Vietnam in accordance with current regulations on record management and document storage in the banking sector.

Article 11. Responsibilities of the State Bank Branches in Provinces and Cities

1. To provide information about credit organizations and foreign bank branches under their jurisdiction to the Deposit Insurance Corporation of Vietnam as prescribed in this Circular.

2. To cooperate with the Deposit Insurance Corporation of Vietnam to handle issues related to their responsibilities in implementing this Circular.

3. To store, archive, and manage written reports directly received from the Deposit Insurance Corporation of Vietnam in accordance with current regulations on record management and document storage in the banking sector.

Article 12. Responsibilities of the Vietnam Deposit Insurance Corporation

1. The Vietnam Deposit Insurance Corporation shall be responsible for providing information to the State Bank of Vietnam in accordance with this Circular.

2. Safeguarding, storing, and supplying comprehensive statistical data and written reports in compliance with the law and directives from the Governor of the State Bank of Vietnam.

Chapter III

IMPLEMENTATION

Article 13. Effective Date

1. This Circular shall take effect from February 14, 2017.

2. Repeal Circular No. 03/2006/TT-NHNN dated April 25, 2006, issued by the Governor of the State Bank of Vietnam guiding certain contents of Decree No. 89/1999/NĐ-CP dated September 1, 1999, of the Government on deposit insurance, and Decree No. 109/2005/NĐ-CP dated August 24, 2005, of the Government amending and supplementing certain provisions of Decree No. 89/1999/NĐ-CP dated September 1, 1999, of the Government on deposit insurance.

Article 14. Implementation Organization

The Director of the Office, the Head of the Inspectorate and Banking Supervision, the Director of the Information Technology Department, the Head of the Forecasting and Statistics Department, the Head of the Internal Audit Department, the Heads of relevant units under the State Bank of Vietnam, the Chairman of the Board of Directors, the General Director of the Vietnam Deposit Insurance Corporation, and related organizations, units, and individuals shall be responsible for implementing this Circular./.