Deposit insurance of vietnam

Generally speaking, the Canadian banking system is well regulated, in part by the Office of the Superintendent of Financial Institutions Canadawhich can in an extreme case close a financial institution. The other Asian economies have provided more extensive regulatory and resolution powers to their insurers.

The report concluded, that many of the schemes but not all had restricted the appliance of guarantees to retail consumers, usually private individuals, although Small or Medium-sized SME businesses sometimes also were placed into the retail category.

Brazil[ edit ] In Brazil, the creation of deposit insurance was authorized by Resolution ofthe National Monetary Council. The Special Act on the Management of Public Funds[ edit ] To ensure efficient use of public funds as well as to minimize the financial burden on citizens, the Special Act on the Management of Public Funds was enacted in Dec.

The general principle is to cover reasonable deposits and savings, but not deposits deliberately positioned to take risks for gain, such as mutual funds or stocks. To a large extent, this reflects differing country circumstances.

And the KDIC usually uses one of two methods: Islamic deposits receive separate protection in Indonesia and Malaysia. Guaranteed Investment Contracts with a longer term than 5 years are also not insured.

A Regional Comparison of China’s New Deposit Insurance System

With the recent introduction of deposit insurance in China, the region as a whole is in a stronger position to weather financial turbulence in the future. Total revenues exceeded VND 6. Beyond broad guidelines, few details as to how the system will work in practice have been released.

Most Asian economies, with the exception of Japan and China, extend membership to domestic branches of foreign banks. Organizational Structure[ edit ] As of the end of Sep. Ongoing risk surveillance[ edit ] The KDIC identifies troubled financial institutions through on and off-site monitoring and requests financial institutions or supervisory authorities to take appropriate actions to prevent failure.

With such a low insurance levy, analysts expect that it will take a decade to accumulate the amount needed to cover the deposits of even the small Chinese banks. The rates are 0. Main roles[ edit ] Policy and fund management[ edit ] The KDIC implements deposit insurance policies and manages funds.

Despite periods of high inflation, it has increased its coverage ratio only five times since and the current level was set over 20 years ago. With the introduction of deposit insurance in China, the large Asian economies have adopted deposit insurance programs.

Deposit insurance

Also, the deposit insurance excludes deposits by government and insured financial institutions, etc. In November a comprehensive report was published by EU, with a description and comparison of each Insurance Guarantee Scheme in place for all EU member states. Insurance Premium Under the plan introduced in China, the deposit insurance premium rate is made up of a basic rate flat fee and a risk-based differential rate determined by factors including the business management and risk conditions of the insured financial institution.

KDIC obtained authority of joint examination of financial institutions and right to order for corrective measures. Protection of Deposits[ edit ] Types of Insured Institutions[ edit ] The KDIC insures banks, financial investment companies, life and non-life insurance companies, merchant banks and mutual savings banks.

The three remaining committee members are appointees commissioned directly by the Financial Services Commission and the other two are recommended by the Minister of the Ministry of Strategy and Finance and the Governor of the Bank of Korea.

As such, it deliberates and renders decisions on key matters. The Act lays out how to enhance the objectivity, fairness and transparency of fund raising and management. According to the PBOC, the premiums are set at between 0. Support of insolvent financial institutions[ edit ] The KDIC supports an insolvent financial institution in accordance with the following four principles: Meanwhile, the Philippines provides its insurer with failure resolution, liquidations and examination authority.

Many other EU countries, starting with the United Kingdom, reacted by increasing its limit to avoid that people transfer savings to Irish banks.Welcome to the 16th Annual Meeting and International Conference of the Asia Pacific Regional Committee (APRC).

It is with great honor for the Deposit Insurance of Vietnam to host the events in Hanoi, Vietnam from Aprilwith the theme of “Small and Medium-sized Insured Institutions – What We Can Do for Them”. Deposit Insurance of Vietnam February – Present (13 years 8 months) Tran Hung Dao Ha Noi I have developed a comprehensive technology system with Title: Vice Director of I.T at Deposit.

As Depositor Insurer, it safeguards and builds up the Depositor Insurance Fund (DIF) and ensures prompt payment of insured deposit. As Co-regulator, it exercises complimentary supervision of banks and adopts responsive resolution methods.

Deposit Insurance Of Vietnam (div) company research & investing information. Find executives and the latest company news. Deposit insurance policy has been officially implemented in Vietnam for nearly two decades. In particular, the promulgation of the Law on Deposit Insurance in has strengthened the legal basis and increased the efficiency of depositor protection, whichhas contributed to maintaining the stability of the credit institution system.

Deposit Insurance of Vietnam, Ha Noi. likes · 1 was here. Bảo Hiểm Tiền Gửi Việt Nam.

Download
Deposit insurance of vietnam
Rated 0/5 based on 42 review