Make more effective use of deposit insurance policies.
National Assembly Deputy Hoang Thi Doi ( Son La ) agreed with the necessity of amending the Law on Deposit Insurance and highly appreciated the draft Law for adding many new points compared to the 2012 Law, especially the regulations aimed at better protecting the legitimate rights and interests of depositors. The Deputy hoped that, after the Law is promulgated, the State would have a mechanism to more effectively utilize the deposit insurance policy to protect citizens and depositors.
National Assembly Deputy Thai Quynh Mai Dung ( Phu Tho ) believes that the draft Law needs to thoroughly address the difficulties and obstacles encountered in implementing the current Law, including the failure to utilize the resources of the deposit insurance organization in the process of handling weak credit institutions, the failure to promptly protect the rights of depositors due to overly strict conditions for incurring insurance payment obligations, and the unclear role of the deposit insurance organization in inspecting participating deposit insurance institutions.
Regarding deposit insurance premiums, delegate Thai Quynh Mai Dung emphasized that this is the main source of revenue to supplement the operational reserve fund for payment and participation in handling weak credit institutions.
Clause 1, Article 19 stipulates the deposit insurance fee as follows: “The Governor of the State Bank of Vietnam shall prescribe the deposit insurance fee rate, and the application of a uniform or differentiated deposit insurance fee in accordance with the specific characteristics of the Vietnamese credit institution system in each period.”
Representative Thai Quynh Mai Dung argued that decentralizing the authority to regulate deposit insurance fees to the Governor of the State Bank of Vietnam is consistent with the Party and State's policy of promoting decentralization and delegation of power; it is also consistent with the authority, functions, and tasks of the State Bank of Vietnam as a state management agency with the function of inspecting and supervising the credit institution system, and also as the state management agency for deposit insurance activities. Therefore, the State Bank of Vietnam has sufficient grounds to regulate the deposit insurance fee level and the application of a uniform or differentiated deposit insurance fee as appropriate to the practical situation.
According to the delegates, the differentiated fee system is progressive, and it is reasonable for organizations that operate more safely to pay lower fees. However, in reality, if a credit institution faces difficulties in its operations due to various factors, applying higher fees would inadvertently create an additional burden for that institution. Furthermore, if not properly secured, the differentiated fee system could be exploited as an unfair competitive advantage.
Emphasizing that the draft Law assigning the Governor of the State Bank of Vietnam the authority to regulate the application of uniform or differentiated fees, in accordance with the specific characteristics of Vietnam's credit institution system in each period, is reasonable and ensures flexibility for the State Bank of Vietnam to apply, Representative Thai Quynh Mai Dung also suggested that a roadmap for applying differentiated fees should be stipulated in the draft Law or in subordinate legal documents to provide a ready plan for preparation and implementation.
Enhancing the effectiveness of risk management.
According to National Assembly Deputy Luong Van Hung (Quang Ngai), although the draft Law allows for the application of a flat or differentiated deposit insurance premium rate, to enhance risk management effectiveness and encourage credit institutions to operate safely and soundly, it is necessary to clearly stipulate a roadmap for a complete transition to a deposit insurance premium mechanism based on risk levels. "This mechanism will not only encourage credit institutions to improve their risk management capabilities, control asset quality, and comply with operational safety regulations, but also ensure fairness among credit institutions with different risk levels," the deputy emphasized.
Furthermore, Representative Luong Van Hung also argued that institutionalizing the roadmap for applying risk-based fee mechanisms directly within the Law would create a stable and transparent legal foundation for deposit insurance policy, in line with the international standards of the International Association of Deposit Insurers (IADI). According to statistics from the IADI, approximately 40-45% of deposit insurance systems worldwide currently apply risk-based fees, and this number is trending upwards.
Regarding payments to ensure system safety and social order in Article 36, Representative Luong Van Hung stated that, for payments exceeding the limit to ensure system safety, this is the State's responsibility in maintaining financial stability and social order. Therefore, the representative proposed adding specific regulations on the mechanism for timely reimbursement or compensation from the State Budget or other legitimate financial sources when the deposit insurance organization has to use the Fund to make payments exceeding the limit. This regulation is necessary to ensure the principle of preserving and growing the capital of the deposit insurance organization, avoiding depletion of the Fund's resources, thereby maintaining normal payment capacity for depositors and ensuring the sustainability of the national deposit insurance system.
Source: https://daibieunhandan.vn/can-quy-dinh-lo-trinh-ap-dung-phi-bao-hiem-tien-gui-phan-biet-10395672.html
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