Amending and supplementing many important contents
According to the draft, the amendments focus on:
First, the rights and obligations of organizations participating in deposit insurance and deposit insurance organizations; regulations on certification, insured deposits, insurance fees, time and limit of insurance payment.
Second, supplement the responsibility of state management of the Ministry of Finance in deposit insurance; regulations on management, investment of state capital, special lending, support for payment to depositors, principles for handling special loans, participating in handling crises of credit institutions.
Third, remove some documents in the application for a deposit insurance certificate; remove the regulation on considering phieu and credit cards as insured deposits; remove the regulation on separate fiscal years for deposit insurance organizations.
Fourth, these adjustments closely follow the 5 major policies that the Government has approved in Resolution 191/NQ-CP, emphasizing the improvement of financial capacity for deposit insurance institutions and perfecting the mechanism for participating in restructuring weak credit institutions.
Adjustment on decentralization and delegation of authority
The draft inherits and supplements the provisions on decentralization and delegation of authority of the Law on Deposit Insurance 2012, specifically:
The Government is assigned to regulate the financial regime of the Deposit Insurance of Vietnam (VII), investment criteria and portfolio, investment structure and investment methods.
The Prime Minister has the authority to decide on the insurance fee, the fee collection form (uniform or different), and the payment limit for all insured deposits if necessary, based on the proposal of the State Bank.
The State Bank decides to grant special loans to the Vietnam Deposit Insurance Corporation, authorizing the Vietnam Deposit Insurance Corporation to conduct inspections of organizations participating in deposit insurance according to the plan.
This decentralization and delegation of power is in accordance with the Law on Government Organization 2025 and the general policy on strengthening decentralization and delegation of power of the Party and State.
(According to the Draft Law on revised Deposit Insurance - State Bank)
