The workshop on “core principles for effective deposit insurance systems and methodologies for compliance assessment”

Attending the workshop were senior officials from the State Bank of Vietnam, the National Financial Supervisory Commission, the Central Institute for Economic Management, the Ministry of Planning and Investment, the Ministry of Finance, the Ministry of Justice, the Government Office of Vietnam, the National Assembly’s Law Committee and Department of Economy and Budget… and senior managers, directors and officers from departments and branches of DIV.

Mr. David K. Walker - Managing Director of the Policy, Insurance & International Affairs Department - Canada Deposit Insurance Corporation and Mr. Nguyen Manh Dung – DIV’s Deputy General Director were the 2 main speakers at the workshop.

Mr. David K. Walker’s presentation was on 18 core principles for an effective deposit insurance system including: Public policy objectives; Mitigating moral hazard; Mandate; Powers; Governance; Relationships; Cross-Border Issues; Membership; Coverage; Transitioning; Funding; Public Awareness; Legal Protection; Parties at fault; Early detection and timely intervention and resolution; Effective resolution processes; Reimbursing depositors; Recoveries. The main focus of his presentation was on issues such as public awareness, failed banks resolution and the coordination among financial safety-net members including the central bank and supervisory agencies. On behalf of DIV, Mr. Nguyen Manh Dung, its Deputy General Director, delivered a speech on the overall situation of Deposit Insurance System in Vietnam and its compliance to core principles for effective deposit insurance systems.

Part of the workshop was set aside for talks and exchanges on deposit insurance – related issues.

On behalf of DIV, Mr. Bui Khac Son, General Director, expressed his high appreciations for all comments and recommendations given by Mr. David K. Walker. The workshop has provided an overview on the content of core principles for effective deposit insurance systems and assessment methodology standards. It also makes helpful evaluations and recommendations aimed at transforming DIV into a sound and strong financial institution, making contribution to protecting depositors, maintaining and promoting the financial system’s stability and economic growth.