Circular 43/2025/TT-NHNN amend Circular 08/2022/TT-NHNN on banking supervision procedures

CIRCULAR

Amending and supplementing a number of articles of the Circular No. 08/2022/TT-NHNN prescribing the order and procedures
for banking supervision

Pursuant to the Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to the Law No. 32/2024/QH15 on Credit Institutions, which was amended and supplemented by the Law No. 96/2025/QH15;

Pursuant to the Government’s Decree No. 26/2025/ND-CP defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of Director of the Department of Banking System Safety;

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Circular No. 08/2022/TT-NHNN prescribing the order and procedures for banking supervision.

Article 1. Amending, supplementing and repealing a number of points and clauses of Article 3 as follows:

1. To amend and supplement Clause 2 as follows:

“2. Microprudential supervision means a form of prudential supervision of each objects of microprudential supervision.”

2. To amend and supplement Point b Clause 4 as follows:

“b) The objects of macroprudential supervision are the system of credit institutions and foreign bank branches (except for policy banks).”.

3. To amend and supplement Clause 5 as follows:

“5. Microprudential supervision unit means the Credit Institution Supervision Department or a State Bank’s regional branch (hereinafter referred to as the State Bank branch for short) which is assigned the task of microprudential supervision under a decision of the Governor of the State Bank of Vietnam (hereinafter referred to as the State Bank for short).”.

4. To amend and supplement Clause 6 as follows:

“6. Macroprudential supervision unit means the Department of Banking System Safety, assigned the task of macroprudential supervision under a decision of the Governor of the State Bank.

5. To amend and supplement Point a Clause 9 as follows:

“a) Inspection conclusions, audit conclusions, examination results, inspection handling decisions (excluding inspection conclusions, examination results, inspection handling decisions falling under the responsibility of the State Bank Inspectorate or inspectorates of State Bank branches);”.

6. To amend and supplement Clause 12 as follows:

“12. Systemic risk means the possible occurrence of loss spreading from the operational interruption or failure of one or several credit institutions or foreign bank branches to a system of credit institutions and foreign bank branches, thus interrupting the operation of credit institutions and foreign bank branches in the system.”.

7. To amend and supplement Clause 15 as follows:

“15. Systemically important commercial bank means a commercial bank that is likely to cause negative impacts on the entire system of credit institutions and foreign bank branches and/or systemic risks, thus interrupting the operation of the system of credit institutions and foreign bank branches and the entire economy in the cases where it loses its solvency or goes bankrupt.”.

8. To amend and supplement Clause 17 as follows:

“17. Microprudential supervision manual, macroprudential supervision manual means a detailed guidebook for microprudential supervision, macroprudential supervision published by the Governor of the State Bank, including at least the following contents:

a) Collection, synthesis and processing of documents, information, and data;

b) Guidance on banking supervision activities;

c) Handling measures in banking supervision;

d) Banking supervision dossiers;

dd) Forms of banking supervision reports.”.

9. To repeal Clause 18.

Article 2. Amending and supplementing Clause 1 Article 4

“1. The principles prescribed in Article 51 of the Law No. 46/2010/QH12.”.

Article 3. Amending and supplementing a number of points and clauses of Article 7

1. To amend and supplement Point l Clause 1 Article 7 as follows:

“l) Documents, information, and data from units under the State Bank and other sources (if any).”.

2. To amend and supplement Clause 2 Article 7 as follows:

“2. The microprudential supervision units shall collect documents, information, and data from the sources prescribed at Points a, b, c, d, dd, e and g Clause 1 of this Article via the statistical reporting system of the State Bank, the information system supporting remote supervision activities and other information systems as defined by the Governor of the State Bank.”.

3. To amend and supplement Clause 4 Article 7 as follows:

“4. Based on the requirements of banking supervision, the microprudential supervision units shall request the objects of banking supervision to provide additional documents, information, and data other than those prescribed in Clause 1 of this Article.”.

Article 4. Amending and supplementing a number of points and clauses of Article 9

1. To amend and supplement Point a, b and c Clause 1 as follows:

“a) Supervision of their compliance with the statistical reporting regime and the information reporting regime prescribed by the Law No. 46/2010/QH12, Law No. 32/2024/QH15 and related guiding documents within the scope of the competence and responsibilities of the microprudential supervision units;

b) Supervision of the compliance with restrictions, limits and prudential ratios as prescribed in Articles 134, 135, 136, 137 and 138 of the Law No. 32/2024/QH15 by credit institutions and foreign bank branches; the classification of assets, setting aside and use of provisions for handling risks in the operation of credit institutions and foreign bank branches;

c) Supervision of the satisfaction of standards and conditions in terms of managers and executives prescribed in Articles 41 and Clause 3 Article 98 of the Law No. 32/2024/QH15; and the compliance of structure of organization, governance, administration, and control of the objects of supervision as prescribed in Chapter IV of the Law No. 32/2024/QH15;”.

2. To amend and supplement Point dd Clause 1 as follows:

“dd) Review of the intramural regulations promulgated by the objects of microprudential supervision in accordance with Article 101 and Clause 7 Article 198a of of the Law No. 32/2024/QH15, which was amended and supplemented by the Law No. 96/2025/QH15: Every year, the microprudential supervision units shall choose a number of intramural regulations for review.”.

3. To amend and supplement Clause 2 as follows:

“2. The microprudential supervision units shall supervise the compliance with the instructions and requests of the competent State agency for the objects of microprudential supervision (if any) according to their assigned functions and tasks.”.

4. To amend and supplement the first paragraph of Clause 3 as follows:

“3. The microprudential supervision units shall perform risk supervision by analyzing and assessing risks of the objects of banking supervision in terms of one, some or all of the following content(s):”.

5. To amend and supplement Point a Clause 3 as follows:

“a) Analyzing and assessing material changes and unusual fluctuations by using the thresholds for changes in assets, liabilities, equity, revenue and accrued interest, costs, business results, and limitations, restrictions, and safety ratios. The Director General of Credit Institution Supervision Department shall decide the thresholds for changes in the above items;”.

6. To amend and supplement Points b(i) and Point b(ii) Clause 3 as follows:

“(i) Changes in managers and executives as prescribed in Articles 41 and 98 of the Law No. 32/2024/QH15 of the objects of microprudential supervision;

(ii) Changes in the situation of shareholders, share ownership, shares of managers, executives, major shareholders and related persons of these individuals and organizations (including investments in the form of capital contribution or share purchase for holding control over a credit institution that is a joint-stock company);”.

7. To add Clause 3a and Clause 3b after Clause 3 as follows:

“3a. In each period, when necessary, the Credit Institution Supervision Department shall submit methods of risk analysis to the Governor of the State Bank for promulgation and organize its implementation to perform risk supervision.

3b. For systemically important commercial banks, the microprudential supervision units shall, in each period, decide on the contents of risk supervision based on the provisions in Clause 3 of this Article, in line with the level of impact of the objects of supervision and the resources of the microprudential supervision units.”.

Article 5. Amending and supplementing a number of points and clauses of Article 11

1. To amend and supplement the first paragraph of Clause 1 as follows:

“1. Based on the current situation and actual operation of the objects of microprudential supervision, the microprudential supervision units being State Bank branches shall decide, or the microprudential supervision unit being the Credit Institution Supervision Department shall consider and request the Governor of the State Bank for decision, on applying enhanced supervision to the objects of microprudential supervision when they fall into one of the following cases:”.

2. To amend and supplement Point b Clause 1 as follows:

“b) The objects of microprudential supervision are subject to early intervention as prescribed by the law regulations and this Circular;”.

3. To amend and supplement the first paragraph of Clause 2 as follows:

“2. Based on the current situation and actual operation of the objects of microprudential supervision, the microprudential supervision units being State Bank branches shall decide, or the microprudential supervision unit being the Credit Institution Supervision Department shall consider and request the Governor of the State Bank for decision, on enhanced supervision (except for the case defined in Clause 3 of this Article) which covers at least:”.

4. To add Clause 3 and Clause 4 after Clause 2 as follows:

“3. In case the objects of microprudential supervision implement the remedial plan defined in Clause 1 Article 160 of Law No. 32/2024/QH15, the microprudential supervision units shall perform supervision in accordance with Clause 3 Article 160 of Law No. 32/2024/QH15.

4. Cessation of enhanced supervision

a) For the cases of application of enhanced supervision defined at Point a and Point b Clause 1 of this Article, the microprudential supervision units being State Bank branches shall decide, or the microprudential supervision unit being the Credit Institution Supervision Department shall consider and request the Governor of the State Bank for decision, on cessation of enhanced supervision if the objects of microprudential supervision no longer fall into one of such cases; or

b) For the cases of application of enhanced supervision defined at Point c Clause 1 of this Article, the cessation of enhanced supervision shall comply with the direction of the competent State agency.”.

Article 6. Amending and supplementing Clause 3 Article 12

“3. Principles of making and approving periodic microprudential supervision reports:

a) The microprudential supervision report for the first 6 months of the year must be completed before August 31 of the year. The annual microprudential supervision report must be completed before April 30 of the following year.

For a credit institution or foreign bank branch subject to enhanced supervision, in addition to the microprudential supervision report for the first 6 months of the year and the annual microprudential supervision report, the microprudential supervision unit shall make a microprudential supervision report for quarter I which must be completed before May 15 of the year and a microprudential supervision report for quarter III which must be completed before November 15 of the year;

b) The microprudential supervision report shall be made using the reporting form in the microprudential supervision manual;

c) A periodic microprudential supervision report shall be approved as follows:

(i) The microprudential supervision report must be approved by the leadership of the microprudential supervision unit;

(ii) If in the microprudential supervision report, there are handling measures proposed to any competent authority as prescribed by the law provisions, the microprudential supervision report must be submitted to such competent authority for consideration and decision.”.

Article 7. Amending and supplementing Clause 2 Article 13

“2. In the cases where the objects of banking supervision are subject to early intervention, the microprudential supervision dossier shall additionally consist of the remedial plan, documents and requirements of the State Bank for application of early intervention of credit institutions or foreign bank branches as defined in Chapter IX of the Law No. 32/2024/QH15.”.

Article 8. Amending, supplementing and repealing a number of points and clauses of Article 15

1. To replace the phrase “the Chief of the Banking Supervision Agency” with the phrase “the Director of the Department of Banking System Safety” in Clause 1.

2. To repeal the phrase “, groups” at Point b Clause 3.

3. To repeal Clause 5 and Clause 6.

Article 9. Amending and supplementing a number of points and clauses of Article 16

1. To amend and supplement Point a Clause 1 as follows:

“a) Make ad hoc or periodic macroprudential supervision reports as prescribed in Clauses 2 and 3 of this Article, using the reporting form in the macroprudential supervision manual;”.

2. To amend and supplement the first paragraph of Clause 2 as follows:

“2. Principles of making ad hoc macroprudential supervision reports:”.

3. To repeal the phrase “, groups” at Point a Clause 2.

4. To amend and supplement Clause 3 as follows:

“3. Principles of making periodic macroprudential supervision reports:

a) The macroprudential supervision report for the first 6 months of the year must be completed before August 31 of the year. The annual macroprudential supervision report must be completed before April 15 of the following year;

b) A periodic macroprudential supervision report shall be approved according to the below principles:

(i) The macroprudential supervision report must be approved by the leadership of the macroprudential supervision unit;

(ii) If in the macroprudential supervision report, there are handling measures proposed to any competent authority as prescribed by the law provisions, the macroprudential supervision report must be submitted to such competent authority for consideration and decision.”.

Article 10. Amending and supplementing Clause 1 Article 19

“1. In the cases where documents, information and data are missing or untruthful, encounter errors, or need clarification to meet the requirements of the microprudential supervision or there are problems related to inadequate compliance with law regulations, directions, or requests of competent State agencies or related to the risks of an object of banking supervision, the banking supervision unit shall request such object of banking supervision to send a written explanation.”.

Article 11. Amending and supplementing Clause 1 Article 20

“1. In case of necessity, when detecting documents, information and data that are missing or untruthful, encounter errors, or need clarification to meet the requirements of the microprudential supervision, or problems related to inadequate compliance with law regulations, directions, or requests of competent State agencies or related to the risks of an object of banking supervision, the banking supervision unit shall decide to establish a working group to work directly with the object of banking supervision.”.

Article 12. Amending and supplementing Article 21

“Article 21. Handling measures in banking supervision

1. Based on the results of banking supervision, the microprudential supervision units shall consider and implement one or more of the following handling measures in microprudential supervision:

a) Issue warnings and recommendations to objects of banking supervision;

b) Request the objects of banking supervision to report as required by the microprudential supervision units;

c) Carry out the handling in accordance with Clause 1 Article 59 of Law No. 46/2010/QH12; the handling shall comply with relevant law regulations;

d) Submit to the Governor of the State Bank or the Director of the State Bank branches for the application of handling measures within their competence, as specified in Clause 12 Article 4 and Clause 2 Article 59 of Law No. 46/2010/QH12, and Clause 1 Article 47 of Law No. 32/2024/QH15;

dd) Depending on the level of safety, soundness, and law violations of the objects of banking supervision, request to the Governor of the State Bank or the Director of the State Bank branch, within the competence, to:

(i) Apply the enhanced supervision measure to the objects of banking supervision;

(ii) Propose inspection and examination of the objects of banking supervision when signs of law violations, risks or operational unsafety are detected;

(iii) Implement the early intervention, special control and apply requirements, measures of early intervention, special control for the objects of banking supervision in accordance with the Law No. 32/2024/QH15 and relevant law regulations;

(iv) Deciding to establish a supervision team to monitor and supervise the objects of banking supervision;

(v) Apply measures to control transactions with latent risks of the objects of banking supervision in accordance with law regulations;

(vi) Amend, supplement, or replace legal documents on currency and banking;

e) Carry out other handling measures in accordance with law regulations.

2. Based on the results of banking supervision, the macroprudential supervision unit shall consider and implement one or more of the following handling measures in macroprudential supervision:

a) Issue warnings and recommendations to objects of banking supervision;

b) Submit the Governor of the State Bank for amendment, supplementation, or replacement of legal documents on currency and banking;

c) Propose the microprudential supervision units to apply the handling measures specified in Clause 1 of this Article;

d) Carry out other handling measures in accordance with the law regulations.”.

Article 13. Amending and supplementing a number of points and clauses of Article 22

1. To amend and supplement Clause 1 as follows:

“1. Based on the results of supervision, the banking supervision units shall decide to consider and approve the recommendations and warnings for the objects of banking supervision.”.

2. To amend and supplement Point b Clause 2 as follows:

“b) When assessing and analyzing the qualitative information, which is obtained from the supervision results and reflects the potential risks and the possibility of law violations by the objects of banking supervision, as well as the inspection conclusions, independent audit conclusions, internal audit conclusions, and the information obtained from other State management agencies;”.

Article 14. Amending and supplementing Article 23

“Article 23. Early intervention to objects of banking supervision

1. The powers to decide on early intervention for credit institutions and foreign bank branches:

a) The Governor of the State Bank shall consider and decide the following contents with respect to the objects of banking supervision under the supervision responsibility of the Credit Institution Supervision Department:

(i) Implementing early intervention when a credit institution or foreign bank branch falls into the cases defined in Clause 1, Article 156 of Law No. 32/2024/QH15;

(ii) Issuing a document requesting a credit institution or foreign bank branch to implement the contents specified in Clause 2 and Clause 4 Article 156, Article 157, and Article 160 of Law No. 32/2024/QH15;

(iii) Issuing a document as specified at Point a Clause 1 and Point a Clause 2 Article 161 of Law No. 32/2024/QH15;

(iv) Giving opinions on the remedial plan as defined in Clause 1, 2, and 3 Article 158 of Law No. 32/2024/QH15;

(v) Considering and approving the application of support measures for credit institutions subject to early intervention as specified in Clause 4 Article 158 and Article 159 of Law No. 32/2024/QH15;

(vi) Other contents under the competence of the State Bank regarding early intervention for credit institutions and foreign bank branches as defined in Law No. 32/2024/QH15;

b) The Director of the State Bank branch shall consider and decide on the contents specified at Point a of this Clause for the objects of supervision (excluding branches of credit institutions) under the supervision responsibility of such State Bank branch.

The Director of the State Bank branch shall report and propose to the Governor of the State Bank (via the Credit Institution Supervision Department) concerning the contents beyond the authority of the State Bank branch as specified in this Circular and relevant law regulations.

2. Reporting and banking supervision of the remedial plans:

a) On a monthly or at the request of the microprudential supervision units, the objects of banking supervision shall report the progress and results of implementing the remedial plan to the State Bank (the Credit Institution Supervision Department or the State Bank branch) before the 10 ^th day of the following month (for periodic reports) or according to the request by the microprudential supervision units (for reports required by the microprudential supervision units) in order to perform banking supervision as prescribed in this Circular;

b) A microprudential supervision report prescribed in Article 12 of this Circular must cover the banking supervision of the remedial plan under the Law No. 32/2024/QH15 and this Circular.”.

Article 15. Amending and supplementing Article 24

“Article 24. Responsibilities of the Department of Banking System Safety

1. To perform macroprudential supervision for the objects of macroprudential supervision in accordance with this Circular.

2. To assign civil servants to perform macroprudential supervision tasks in accordance with this Circular.

3. To provide results of macroprudential supervision (including macroprudential supervision reports) on a periodic and ad hoc basis for the microprudential supervision units, the Inspectorate of the State bank, the leadership of the State Bank and other relevant units.

4. To assume the prime responsibility for, and coordinate with the macroprudential supervision units in, deciding the macroprudential supervision thresholds in each period.

5. In case of necessity, to propose the Governor of the State Bank to conduct the ad hoc macroprudential supervision as prescribed in Clause 3 and Clause 4 Article 15 of this Circular.

6. Based on this Circular, to assume the prime responsibility for, and coordinate with relevant units in, developing and submitting to the Governor of the State Bank for promulgation the macroprudential supervision manual to guide professional operations on macroprudential supervision.

7. Based on the criteria of the scale, interdependence, and interchangeability thereof, to assume the prime responsibility for, and coordinate with relevant units in, making a list of systemically important commercial bank and submitting it to the Governor of the State Bank for promulgation before March 31 every year.

8. To perform other responsibilities prescribed by this Circular and under the State Bank’s decisions.”.

Article 16. Amending and supplementing Article 25

“Article 25. Responsibilities of the Credit Institution Supervision Department

1. To perform microprudential supervision for the objects of supervision within the responsibility of Credit Institution Supervision Department.

2. To assign civil servants to perform microprudential supervision tasks in accordance with this Circular.

3. To consider and decide on the mechanisms applicable to specialized officers regarding each object of banking supervision; the specialized officers have the right to access general information about the objects under their supervision.

4. To provide results of microprudential supervision (including microprudential supervision reports) on a periodic and ad hoc basis for the Department of Banking System Safety, the Inspectorate of the State bank, the leadership of the State Bank.

5. To advise and propose the Governor of the State Bank for consideration and decision on the contents defined at Point a Clause 1 Article 23 of this Circular.

6. To assume the prime responsibility for, and coordinate with relevant units, in deciding on the microprudential supervision thresholds for credit institutions and foreign bank branches in each period.

7. To assume the prime responsibility for, and coordinate with the State Bank branches in, performing enhanced supervision in accordance this Circular and the Decisions of the Governor of the State Bank to the objects of banking supervision under its authority.

8. To supervise the implementation of the remedial plan in accordance with Law No. 32/2024/QH15 and this Circular for the objects of supervision under its authority.

9. Based on this Circular, to assume the prime responsibility for, and coordinate with relevant units in, developing and submitting to the Governor of the State Bank for promulgation the microprudential supervision manual to guide professional operations on microprudential supervision; to advise and submit to the Governor for promulgation guidelines on microprudential management and supervision for credit institutions and foreign bank branches.

10. To perform other responsibilities prescribed by this Circular and under the State Bank’s decisions.”.

Article 17. Amending and supplementing Article 26

“Article 26. Responsibilities of State Bank branches

1. To perform microprudential supervision for the objects of supervision within the responsibility of State Bank branches.

2. To provide results of microprudential supervision (including microprudential supervision reports) on a periodic and ad hoc basis for the Credit Institution Supervision Department, the Inspectorate of the State bank (excluding microprudential supervision results for objects of banking supervision that are people's credit funds).

3. To provide results of microprudential supervision (including microprudential supervision reports) for the Department of Banking System Safety (excluding microprudential supervision results for objects of banking supervision being branches of credit institutions or people’s credit funds) on a periodic and ad hoc basis.

4. The Director of the State Bank branch shall consider and decide on the contents defined at Point b Clause 1 Article 23 of this Circular.

5. To conduct enhanced supervision over the objects of banking supervision in accordance with this Circular and the Decisions of the Governor of the State Bank or the Director of the State Bank branch in each specific case.

6. To implement the contents specified in Clauses 2, 3, and 8 Article 25 of this Circular for the objects of supervision under its authority.

7. To perform other responsibilities prescribed by this Circular and under the State Bank’s decisions.”.

Article 18. Amending and supplementing Article 28

“Article 28. Responsibilities of other related units under the State bank

1. The Inspectorate of the State bank shall timely provide information related to inspection and inspection handling decisions regarding the objects of banking supervision for the Credit Institution Supervision Department according to its assigned functions and tasks.

2. To provide information, documents, and data at the request of the Credit Institution Supervision Department, the Department of Banking System Safety and State Bank branches in accordance with this Circular and the law provisions.

3. To coordinate with the Credit Institution Supervision Department, the Department of Banking System Safety and State Bank branches in banking supervision activities.

4. To coordinate with the Credit Institution Supervision Department and State Bank branches in reviewing intramural regulations promulgated by the objects of banking supervision in accordance with legal documents, which are formulated and submitted by the related units to competent authorities for promulgation.”.

Article 19. Repealing a number of clauses, articles and appendices

1. To repeal Clause 2 Article 5 and Article 27.

2. To repeal Appendix II, III and IV.

Article 20. Responsibility for implementation organization

Heads of units of the State Bank of Vietnam, credit institutions and foreign bank branches shall be responsible for organizing the implementation of this Circular.

Article 21. Implementation provisions

This Circular takes effect on January 01, 2026.

Article 22. Transitional provision

During the time the microprudential supervision manual and the macroprudential supervision manual have not yet been promulgated in accordance with this Circular, the microprudential supervision units and the macroprudential supervision unit shall make reports using the supervision report forms defined in Appendices II, III, and IV of Circular No. 08/2022/TT-NHNN and the supervision contents specified in the Circular No. 08/2022/TT-NHNN as amended and supplemented by this Circular./.