Submit to the National Assembly a series of new policies on deposit insurance

(Dan Tri) - The appraisal agency proposed that the regulation of deposit insurance premiums must be carefully studied, both to ensure stable revenue sources and to be consistent with the financial capacity of organizations participating in deposit insurance.

On the morning of October 23, authorized by the Prime Minister, Governor of the State Bank of Vietnam Nguyen Thi Hong presented the draft Law on Deposit Insurance (amended).

The draft law assigns the Governor of the State Bank to prescribe the deposit insurance premium rate. The application of deposit insurance premium rate is uniform or differentiated in accordance with the characteristics of the Vietnamese credit institution system in each period.

For credit institutions under special control, the draft adds provisions on the temporary postponement of payment of deposit insurance premiums arising before the time of being placed under special control. This creates a basis for these institutions not to immediately pay underpayment fees, late payment fees and late payment fees (if any).

Governor of the State Bank of Vietnam Nguyen Thi Hong (Photo: Hong Phong).

Regarding insurance payment, according to Governor Nguyen Thi Hong, the draft law stipulates the time when the obligation to pay insurance arises from one of the following times:

The deposit insurance bankruptcy plan is approved or the State Bank has a document confirming that the foreign bank branch is unable to pay deposits to depositors.

The State Bank shall issue a document suspending the deposit-taking activities of a credit institution under special control when the credit institution has accumulated losses greater than 100% of the value of its charter capital and reserve funds according to the most recent audited financial report.

In the case of payment to ensure system safety and social order and safety, the addition of deposit insurance payment time is to handle difficulties and problems in using the deposit insurance organization's operational reserve fund.

The draft law also stipulates that deposit insurance organizations shall make special loans to deposit insurance participating organizations when deposit insurance participating organizations are subject to early intervention, special control and mass withdrawal; to implement recovery plans and compulsory transfer plans.

The deposit insurer decides on special lending, including lending with or without collateral, with or without interest.

The draft law also adds a provision that the deposit insurance organization is granted a special loan by the State Bank with a 0% interest rate, without collateral, in case the amount in the operational reserve fund is not enough to pay depositors; the deposit insurance organization shall develop a plan to increase deposit insurance premiums to compensate for the special loan.

In addition, the draft law also adds provisions on cases where incidents and crises arise that pose a risk to the safety of the credit institution system, deposit insurance organizations must participate in handling incidents and crises according to the provisions of this law. The Government decides on other measures to handle incidents and crises.

Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai (Photo: Hong Phong).

Examining this content, Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai said that this agency basically agrees with the regulations on deposit insurance fees in the draft, and at the same time recommends that the regulations on deposit insurance fees must be carefully studied, both to ensure stable revenue sources and to be consistent with the financial capacity of organizations participating in deposit insurance.

Regarding special loans, the appraisal agency proposed to have specific instructions on the maximum scale of special loans on the total operational reserve fund; to develop a set of transparent criteria to approve special loans.

At the same time, strengthen the mechanism to monitor the use of special loans from deposit insurance organizations, clarify which cases credit institutions borrow special loans from the State Bank; which cases borrow special loans from deposit insurance organizations, according to the inspection agency.

In addition, the review agency proposed specific guidance on conditions, interest rates and collateral of special loans of deposit insurance organizations to credit institutions.

Source: https://dantri.com.vn/thoi-su/trinh-quoc-hoi-loat-chinh-sach-moi-ve-bao-hiem-tien-gui-20251023085928503.htm