North Central Deposit Insurance Branch: Summary of 10 years of construction and development

(Baonghean.vn) - This morning, March 9, 2012, the North Central Deposit Insurance Branch held a conference to summarize 10 years of operation and deploy tasks for 2012.

Attending the event were comrade Thai Van Hang - Member of the Provincial Party Committee, Vice Chairman of the Provincial People's Committee; leaders of provincial departments, branches and sectors; leaders of the Deposit Insurance of Vietnam and branches of the State Bank, Commercial Banks of 6 provinces in the North Central region.

Comrade Thai Van Hang presented a banner from the Provincial People's Committee to the North Central Bank.



Leaders of Vietnam Social Insurance awarded certificates of merit to individuals with outstanding achievements.

The North Central Deposit Insurance Branch officially operated on September 12, 2002, with the task of organizing and implementing the Party's policies and the State's laws on deposit insurance in 6 provinces from Thanh Hoa to Thua Thien - Hue. By the end of 2011, there were 107 branches of State-owned commercial banks, joint stock commercial banks, central credit funds and 164 grassroots people's credit funds in the area. Of which, 165 organizations participated in deposit insurance and were directly managed by the Branch.

After 10 years of operation, the Branch has received and completed documents and procedures for submitting new and reissued deposit insurance certificates for credit institutions in the area. Remote monitoring aims to detect potential risks early, thereby proposing timely remedial measures. Every month, the Branch monitors 98-100% of the number of organizations participating in deposit insurance. Through monitoring results, the Branch has sent over 1,000 notifications and warnings to violating units, showing signs of violating safety ratios in banking activities; at the same time, sent hundreds of documents urging and reminding the compliance with legal regulations on deposit insurance, helping participating units operate more safely and firmly.

The branch has also conducted nearly 500 inspections and re-inspections to promptly detect errors in compliance with regulations on deposit insurance and safety regulations in banking operations; assessed the current situation and potential risks, thereby providing over 1,300 recommendations and many practical advices. Thanks to that, the operating areas of organizations participating in deposit insurance are safe, effective and always ensure payment capacity.

In 2012, the Branch focused on improving the quality of its professional activities, continuing to make efforts to effectively implement the Party's mechanisms and policies and the State's laws; maintaining and strengthening relationships with localities and the State Bank of provinces to promptly grasp the socio-economic situation of credit institutions in the area. Inspecting deposit insurance participating organizations according to plan, inspecting when there are unusual fluctuations; conducting remote monitoring of 98-100% of deposit insurance participating organizations in the area.

On this occasion, comrade Thai Van Hang - Vice Chairman of the Provincial People's Committee presented the banner of the Provincial People's Committee to the North Central Deposit Insurance Corporation "10 years of construction and development", awarded certificates of merit of the Provincial People's Committee to 1 collective and 3 individuals with outstanding achievements in the work of 2 years 2010 - 2011; Chairman of the Board of Directors, General Director of the Deposit Insurance of Vietnam presented certificates of merit to 3 collectives and individuals.

Quynh Lan