Deposit insurance of Vietnam posts VND670Bln income in 2010

As of December 31, Deposit Insurance of Vietnam (DIV) invested VND6.599billion of its short-term idle capital, up 34.56% on year, generating total interest income of VND670billion, up 81% on year, the online newspaper NDHMoney reported.

Last year, the DIV has made off-site supervision for 100% of insured institutions and on-site examination of nearly 300 insured institutions, the central bank said, adding that it also issued, re-issued and exchanged 1,215 Certificates of Deposit Insurance, up 402 CDI from 2009.

The non-profit organization continued to study a model of warning risks for insured institutions, helping to minimize risks for the Deposit Insurance Fund and pave the way for other researches on early warning systems in Vietnam.

In 2010, the Basel Committee on Banking Supervision (BCBS) and the International Association of Deposit Insurers (IADI) officially issued the core principles for Effective Deposit Insurance Systems officially passed by), marking a noted move in developing deposit insurance in the world. The DIV has introduced basic contents of 18 principles to relevant ministries and all the units in the DIV system. – Stoxplus.com

Tags: Deposit insurance of Vietnam

Posted by VBN on Jan 22 2011. Filed under Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry