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Attending the Conference were seniors of the Banking Supervision Agency and departments of the SBV; representatives of the Department of Economic Security of the Ministry of Public Security.
From the DIV, there were Mr. Pham Bao Lam - Chairman of the Board of Directors; Mr. Dao Quoc Tinh - Member of the Board of Directors, General Director; members of the Board of Directors, members of the Board of Management; Controllers; Trade Union, Youth Union and leaders of Headquarters’ departments; members of the Board of Directors and heads of departments of all branches.
Speaking at the opening of the Conference, Chairman Pham Bao Lam emphasized that the DIV had synchronously implemented and effectively accomplished its assigned key tasks, affirming its vital role in the implementation of deposit insurance (DI) policies in 2022.
Mr. Pham Bao Lam said that in an effort to overcome all difficulties and promote the spirit of solidarity and collective wisdom, in 2022, the Strategy on DI development to 2025, with orientation to 2030 had been completed and submitted to the Prime Minister for approval; the DIV had actively and closely coordinated with relevant units of the SBV to agree on the proposed amendments and supplements to a number of articles of the Law on DI, etc. The DIV also successfully accomplished the DI premium collection plan and implemented premium exemption for insured institutions placed under special control in accordance with regulations; 100% of the assigned plan of examination and supervision was completed. Temporarily idle capital was managed and used to ensure the safety and growth of the fund. Regarding public awareness, the DIV actively implemented and coordinated with press agencies in disseminating DI policies, thereby raising public awareness and increasing people’s confidence in DI policies and the system of credit institutions.
Various important documents were reviewed and discussed at the Conference, including: Report on summarizing operations in 2022 and implementing tasks in 2023 of the DIV; Report on emulation and commendation in 2022 and promoting emulation in 2023, etc. At the Conference, many discussions were also presented, focusing on the following aspects: Developing the Action Plan for the Strategy on DI development to 2025, with orientation to 2030; The contribution of the DIV’s supervision to the SBV’s well-implemented supervision; Improving the quality of the DIV’s examination under the direction of SBV Governor to contribute to ensuring the safety of the system of PCF’s operations, etc.
On behalf of the Board of Management, Mr. Vu Van Long – the DIV’s Deputy General Director reported on the results of its operations in 2022 and tasks to be implemented in 2023. Accordingly, in 2022, the DIV actively cooperated with the SBV’s Banking Supervision Agency in completing the Draft Strategy on DI development to 2025, with orientation to 2030 by incorporating comments of the SBV, relevant ministries, sectors and units, especially the directions of Deputy Prime Minister Le Minh Khai. The Strategy on DI development was approved, and the DIV is urgently developing the Action Plan for implementing the Strategy to deploy tasks and solutions in each phase synchronously.
In 2022, the DIV also actively proposed and agreed with the SBV’s units on 5 key policies in the proposal to amend and supplement a number of articles of the Law on DI; approved the Digital Transformation Plan of the DIV to 2025, with orientation to 2030; researched and reported to the SBV for submission to the Prime Minister to adjust and increase charter capital of the DIV; signed and implemented the Regulation on coordination and information exchange with 56/57 provincial branches of the SBV.
Deposit insurance operations have been effectively carried out by the DIV. By December 31, 2022, 1,283 institutions participated in deposit insurance, including 97 banks and foreign branches, 1,181 PCFs, 01 cooperative bank and 04 microfinance institutions. The DIV granted 230 copies of Certificates of deposit insurance participation, re-granted 15 Certificates of deposit insurance participation, and revoked 01 Certificate of deposit insurance participation at the request of insured institutions, ensuring compliance with legal regulations.
In 2022, the DIV directed units in the whole system to continue undertaking continuous and regular supervision over 100% of insured institutions in the regions under their management; completed 100% the plan of periodic examination and completed examination over 53/53 PCFs as directed by the Governor of the SBV, achieving 100% of the assigned plan; approved the plan of periodic examination in 2023 over 277 insured institutions.
The DIV also well collected DI premiums, actively stimulated, provided guidelines, replied to obstacles in calculation and payment of DI premium. The total DI premium collected in 2022 exceeded 1.98% of the plan assigned by the SBV; the total DI premium exempted for some insured institutions placed under special control as legally regulated was 223.6 billion dongs.
Now, the operational provision fund of the DIV achieved 89,062 billion dongs, which increased by 16.9% against the same period in 2021. The total funds of the DIV reached over 95.7 trillion dongs, which rose by 15.8% against the same period in 2021. The gains of investment in 2022 exceeded 0.5% of the assigned plan.
The DIV has also been monitoring and sending staff to participate in the Special Control Board in some PCFs placed under special control.
In 2022, the DIV held series of activities to disseminate DI policies according to the approved plan, timely provided information about the monetary policy and banking operations which need to be oriented, consulted for depositors through on-going events, seminars, exchanges, etc, brought DI policies to over 15,000 depositors; especially strengthened support during making the proposal of amending, supplementing some articles of the Deposit Insurance Law and approving the Strategy on DI Development to raise awareness and trust of the public and ministries and agencies in DI activities.
On behalf of the entire DIV, the Chairman of the BOD, Mr. Pham Bao Lam thanked the SBV's leaders and Standing Deputy Governor, Mr. Dao Minh Tu, for their close attention and direction in the activities of the DIV and affirmed that: The DIV will thoroughly perceive and follow the directions of the Deputy Governor at the conference to fulfill the mission of protecting the legitimate rights and interests of depositors, contributing to ensuring the safety of the banking system and social security. The directions of the Deputy Governor recognized and encouraged the results achieved by the DIV in 2022. At the same time, they oriented and set the key tasks that DIV should focus on implementing in 2023.
"In 2023, the DIV has identified that it will have to face many difficulties and challenges, but we also recognize the advantages and opportunities ahead, which are the constant and timely leadership and direction of the SBV's leadership, the support and coordination of relevant operation units and the solidarity and consensus of the BODs and employees of the DIV. This is a great source of encouragement to cheer up the spirit and give strength to the DIV to complete the assigned political tasks confidently," - Mr. Pham Bao Lam emphasized.
At the conference, SBV Standing Deputy Governor Dao Minh Tu presented the Certificate of Merit from the Prime Minister, the Certificate of Merit from the Governor of the SBV, the Emulation Flag of the SBV, and emulation titles of the banking industry to the collectives, individuals in the DIV with excellent achievements.
Some key tasks in 2023 of the DIV
Coordinating in effectively developing and implementing the specific contents of the Action Program to implement the Strategy on deposit insurance development to 2025, with orientation to 2030; Continuing to study and complete the items of proposals for amending and supplementing the Deposit Insurance Law in the direction of solving difficulties and problems in the task implementing process, approaching international practices, and ensuring compliance and consistency with relevant laws; Strengthening coordination with the SBV, relevant ministries, branches and units to complete soon the proposal to increase charter capital for the DIV.
Issuing and revoking the Certificate of deposit insurance participation at the request of the insured institutions in accordance with the law;
Continuing to monitor, analyze, and enhance the early warning and improve the effectiveness of supervision of insured institutions, especially for weak credit institutions and problematic People's Credit Funds; promptly advising, proposing, and recommending to the SBV on new arising problems and potential risks causing unsafety to the credit institution system;
Actively coordinating in planning and implementing examination operations in accordance with the characteristics and performance in the regions under their management to complete 100% targets of the periodic examination plan for the insured institutions, prioritizing resources to implement the PCFs examination plan under the direction of the Governor of the SBV in 2023 as soon as it is assigned;
Improving its financial capacity, increasing the operational reserve fund by fully calculating and collecting deposit insurance premiums in accordance with the law; Researching and understanding the market to invest temporarily idle capital with the highest efficiency but still ensuring safety.
Exempting deposit insurance premiums for insured institutions placed under special control; proactively developing reimbursement options and reimbursement contingency plans to be ready to accurately and promptly reimburse when payment obligations arise in accordance with the law.
Bringing into full play the role of the DIV in restructuring CIs; preparing all resources to participate in the process of restructuring and resolving PCFs under the direction of the SBV while ensuring compliance with the provisions of the law on deposit insurance; Actively and closely coordinating with relevant units before, during and after the special control process to ensure the legitimate rights and interests of depositors.
Providing special loans to credit institutions placed under special control, meeting all regulations on special loans when they arise, and actively urging during the process of liquidation and recovery of assets.
Continuing to effectively perform the tasks assigned in the Program and the Action Plan of Directive No. 06/CT-TTg of the Prime Minister and the Project on strengthening and developing the PCFs system to 2020, with orientation to 2030.
Coordinating in developing and completing the Communication Strategy of the DIV to 2025, with orientation to 2030; surveying and assessing the awareness level of depositors; promptly orienting, identifying the key target audience to diversify and innovate communication forms and tools, thereby gradually approaching the public reasonably and effectively with reasonable cost, especially focusing on communicating deposit insurance policies during the implementation phase of proposing amendment and supplementation of some articles of the Law on Deposit Insurance and implementing the Strategy on Deposit Insurance Development to raise public awareness about deposit insurance activities.
