PM asks NFSC to focus on macro-economy, supervision of financial market
Updated : Wednesday, March 07, 2018 3:02 PM (GMT+0700)

PMNguyen Xuan Phuc on March 6 attended a ceremony on the 10th founding anniversaryof the National Financial Supervision Commission (NFSC).

 
PM Nguyen Xuan Phuc attends a ceremony on the 10th founding anniversary of the
National Financial Supervision Commission, Ha Noi, March 6, 2018 - Photo: VGP

Speaking at the event, thePM recalled the establishment of the agency when the financial crisis andglobal recession started. 

He asked the Commission tosupplement and complete its functions and tasks, especially enhancingcoordination mechanism with functional ministries and agencies.

Regarding the supervision ofthe financial market, the relations between supervision agencies and role ofeach supervision agency, the PM assigned the Commission to actively enhancecoordination with the Ministries of Finance, Planning and Investment and theState Bank of Viet Nam. 

The Commission needs tofocus on analyzing and evaluating the situation, particularly risks of thefinancial market, banking system, stocks, and the insurance, real estatemarkets and proposing mechanism, policies and measures, including tools toidentify risks and criteria to assess the safety of the financial system inline with the international standards and rules. 

The PM required takingmeasures to stabilize the financial and monetary systems, restructure creditorganizations attached to bad debt, update, analyze and report theinternational and domestic financial situations.    

The PM proposed theCommission organize some meetings and conferences to discuss crucial and urgentissues as well as establish and complete the legal framework andsupervision mechanisms for financial and banking corporations. 

Source:VGP

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