First Vietnamese bank completes Basel II project - News Summed Up

First Vietnamese bank completes Basel II project


First Vietnamese bank completes Basel II projectThe Orient Commercial Joint Stock Bank (OCB) has become the first Vietnamese bank to complete the implementation of a Basel II project, equipping it with the infrastructure of a modern and safe bank that meets capital, supervisory review and transparency requirements. Representatives of OCB and Development Banking Singapore sign a document of the Basel II project completion (Photo: OCB)Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. Basel II comprises minimum capital requirements, supervisory review and market discipline. OCB said after two years, it finished a project on managing risks according to Basel II standards. OCB General Director Nguyen Dinh Tung said complying with Basel II standards means the bank has a modern risk management system.


Source: VietNamNet News December 07, 2017 04:07 UTC


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