On January 13, Deputy Prime Minister Le Minh Khai chaired a working session to evaluate the functions, tasks, and model of the National Financial Supervision Committee after 15 years of establishment.
Deputy Prime Minister Le Minh Khai chaired the meeting.
At the meeting, Deputy Prime Minister Le Minh Khai noted four outstanding results. Specifically, the Committee has built and regularly updated and completed a system of monitoring indicators to effectively perform the task of assisting the Prime Minister in general monitoring the national financial market; strived to effectively perform the task of coordinating and monitoring the national financial market, through coordination with ministries and branches; and provided opinions on many draft laws, decrees, strategies, plans and projects on management, monitoring and development of the financial market.
In addition, the Committee proactively advises the Prime Minister on macroeconomic policy management. Specifically, it has provided many research reports, analyses, assessments, recommendations, and proposals with high reference value for timely policies. For example, when the COVID-19 pandemic was under control, the Committee recommended early plans to open the economy, early addition of a new economic support package with a larger scale and a long enough support period...
The National Financial Supervision Commission is the pioneer in building a comprehensive, common monitoring database on the national financial market, including all areas of banking, securities, insurance and other statistical data (Financial Market Monitoring Information System Project).
The Deputy Prime Minister requested the Committee to coordinate with the Ministry of Finance and relevant ministries and agencies to clarify the proposed content on the mechanism for ordering financial market monitoring reporting products, in accordance with the provisions of law.
Emphasizing that in the coming time, our country's financial market will develop rapidly, with an increasingly large scale, complexity, and high risk levels, especially interconnected risks, requiring timely supervision, monitoring, detection, and handling, the Deputy Prime Minister said that this requires attention to inspection and supervision work, and more attention to the force performing this task. It is necessary to continue researching and perfecting the functions, tasks, and financial supervision models in the coming time, especially ensuring the requirements of general supervision, interconnected supervision between financial sectors, meeting the development requirements in the new context, international economic integration, and in line with good international practices.
The Deputy Prime Minister assigned the Ministry of Home Affairs to coordinate with the National Financial Supervision Committee and other ministries, sectors and agencies to complete the tasks assigned by the Prime Minister within the deadline. The Ministry of Finance, the State Bank of Vietnam, the Ministry of Planning and Investment and the National Financial Supervision Committee shall enhance coordination and information sharing in accordance with their functions, tasks and legal provisions, creating conditions for the Committee to operate better.
The Ministry of Finance and the State Bank shall preside over and coordinate with relevant ministries and agencies to study the recommendations of the National Financial Supervision Commission on the coordination mechanism between agencies in sharing information, identifying, warning and handling risks in coordinating general supervision activities of the national financial market, ensuring the requirements and effectiveness of state management of the financial market.
Regarding the proposal of the National Financial Supervision Commission related to the implementation of upgrading the Financial Market Supervision Information System of the Commission and the disaster contingency plan, the Deputy Prime Minister requested the Commission to, in accordance with the correct order, procedures and legal regulations, preside over and coordinate with relevant ministries and agencies, complete the submission documents, report to competent authorities for consideration and decision, ensuring practicality and effectiveness.
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