HDBank Gains Basel II Compliance Ahead of Schedule

Diep Nguyen

16:52 18/09/2019

BizLIVE -

The HCM City Development Joint Stock Commercial Bank has received approval from the State Bank of Vietnam to adopt Basel II standards from October 1.

HDBank Gains Basel II Compliance Ahead of Schedule
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) (Hose: HDB) has been authorized by the Governor of the State Bank of Vietnam (SBV) to implement Circular No. 41/2016/TT-NHNN stipulating capital adequacy ratios for banks and branches of foreign banks (the standardized approach to Basel II) from October 1, 2019.
The HCM City Development Joint Stock Commercial Bank has received approval from the State Bank of Vietnam to adopt Basel II standards from October 1.
Since 2015, HDBank has actively done research and cooperated with reputed international consulting agencies to implement Basel II. In the meantime, HDBank has been actively participated in the SBV's programs, complied with credit risk management measures and focused on operational risk management to ensure transparency and sustainable development.
Basel II is the second of the Basel Accords, (now extended and partially superseded[clarification needed] by Basel III), which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision.
The Basel II Accord was published initially in June 2004 and was intended to amend international banking standards that controlled how much capital banks were required to hold to guard against the financial and operational risks banks face. These regulations aimed to ensure that the more significant the risk a bank is exposed to, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. 

DIEP NGUYEN

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