World Bank2014-11-192014-11-192014-06https://hdl.handle.net/10986/20583Vietnam has achieved remarkable progress since the start of its transition from a centrally planned economy in the mid-1980s. The Economic Renovation Policy announced in December 1986 marked the transition from a centrally planned economy to a mixed economy with greater reliance on markets and increased participation of private financial and non-financial institutions. These reforms contributed to an impressive performance in the last two decades, since 1990 the annual GDP growth has exceed 7 percent and per capita income has increased three-fold. This Financial Sector Assessment Program (FSAP) provides a broad set of policy recommendations that can be used to operationalize the SEDP and the banking restructuring program. The recommendations fall into three groups: (i) a plan to work out the large stock of existing NPLs; (ii) measures to ensure sound new flows of finance and prevent the accumulation of additional NPLs; and (iii) a set of policy steps designed to protect the financial sector during the envisaged reform period. For each group of measures, the plan identifies pre-conditions (first phase) and sub-sets of measures that needs to be implemented in the short run (second phase) as well as those that can be phased in over the medium term (third phase).en-USCC BY 3.0 IGOACCESS TO INSURANCEACCOUNT HOLDERSACCOUNTINGACCOUNTING FRAMEWORKACCOUNTING STANDARDACCOUNTING STANDARDSASSET MANAGEMENTASSET VALUESAUCTIONBALANCE SHEETSBANK DEPOSITBANK DEPOSITSBANK PAYMENTBANKING ASSETSBANKING LAWBANKING REGULATIONBANKING SECTORBANKING SYSTEMBANKRUPTCYBANKRUPTCY LAWBENCHMARK YIELDBENCHMARK YIELD CURVEBENEFICIARIESBLUE CHIPSBONDBOND FUNDSBOND MARKETBOND MARKET DEVELOPMENTCAPITAL ADEQUACYCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCAPITAL MARKETSCENTRAL BANKCENTRAL GOVERNMENT DEBTCENTRAL SECURITIES DEPOSITORYCOLLATERALCOLLATERAL REQUIREMENTSCOMMERCIAL BANKCOMMERCIAL BANKINGCOMMERCIAL BANKSCOMPENSATION FUNDCONFLICTS OF INTERESTCONSUMER PROTECTIONCORPORATE BONDCORPORATE BOND MARKETCREDIT BUREAUCREDIT BUREAUSCREDIT DECISIONSCREDIT GROWTHCREDIT INFORMATIONCREDIT INSTITUTIONSCREDIT LINESCREDIT QUALITYCREDIT RATIONINGCREDIT REPORTINGCREDIT REPORTING SYSTEMCREDIT RISKCREDITORCREDITOR RIGHTSCREDITORSDEBTDEBT COLLECTIONDEBT COLLECTION CASESDEBT SERVICEDEBTORDEBTORSDEBTSDEPOSITDEPOSIT ACCOUNTDEPOSIT INSURANCEDEPOSITSDEVELOPMENT BANKDISCLOSURE REQUIREMENTSECONOMIC DEVELOPMENTENFORCEMENT MECHANISMSEQUITIESEQUITY MARKETEQUITY MARKET CAPITALIZATIONEQUITY MARKETSFINANCIAL DEVELOPMENTFINANCIAL DISTRESSFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MARKETFINANCIAL STATEMENTSFINANCIAL SYSTEMFIXED INCOMEFIXED INCOME MARKETFLOATING RATEFLOW OF CREDITFOREIGN BANKSFOREIGN CURRENCYFOREIGN EXCHANGEFRAUDGOVERNMENT BONDGOVERNMENT BOND MARKETGOVERNMENT BONDSGOVERNMENT DEBT MARKETGUARANTEE FUNDHOUSING FINANCEILLIQUIDITYINCOME SECURITIESINITIAL PUBLIC OFFERINGINITIAL PUBLIC OFFERINGSINSTITUTIONAL INVESTORINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINSURANCE MARKETINSURANCE PRODUCTSINTEREST RATE PRODUCTSINTEREST RATE RISKINTEREST RATESINVESTMENT POLICYINVESTOR BASEINVESTOR EDUCATIONIPOISSUANCEJUDICIAL PROCESSLACK OF TRANSPARENCYLEGAL FRAMEWORKLENDERSLEVELS OF COLLATERALLIABILITYLIFE INSURANCELIQUIDATIONLIQUIDITYLIQUIDITY POSITIONSLIQUIDITY RISKLOANLOAN CLASSIFICATIONLOAN PORTFOLIOLOAN PORTFOLIOSLOCAL BANKSLOCAL GOVERNMENTSLONG-TERM FINANCEMACROECONOMIC POLICIESMACROECONOMIC VOLATILITYMARKET CONDITIONSMARKET CONFIDENCEMARKET DEPTHMARKET DISTORTIONSMARKET INFRASTRUCTUREMARKET INFRASTRUCTURESMARKET INTEREST RATEMARKET PARTICIPANTSMARKET PLAYERSMATURITYMICRO-FINANCEMICRO-FINANCE INSTITUTIONMONETARY FUNDMONETARY POLICIESMORTGAGEMOVABLE ASSETSMUTUAL FUNDMUTUAL FUND INDUSTRYMUTUAL FUNDSNON-PERFORMING LOANSNPLOPERATIONAL INDEPENDENCEPAYMENT SYSTEMPENSIONPENSION FUNDSPORTFOLIOPOSTAL SAVINGSPRICE DISCOVERYPRIMARY DEALERPRIMARY DEALER SYSTEMPRIMARY MARKETPRIMARY MARKETSPRIVATE SALEPROVISION OF CREDITPROVISIONING RULESPRUDENTIAL REGULATIONSPRUDENTIAL SUPERVISIONPUBLIC INVESTMENTPUBLIC MARKETREAL ESTATE COLLATERALREAL ESTATE LENDINGREAL ESTATE LOANSREGISTRATION SYSTEMREGULATORY FRAMEWORKRESERVESRETAIL INVESTORSRISK MANAGEMENTSAFETY NETSAVINGS INSTRUMENTSSAVINGS RATIOSECONDARY MARKETSECONDARY MARKETSSECURITIESSECURITIES MARKETSECURITIES MARKETSSECURITIES TRANSACTIONSSECURITY INTERESTSSEIZURESETTLEMENTSETTLEMENT SYSTEMSETTLEMENT SYSTEMSSOLVENCYSOURCE OF CREDITSTATE AUDIT OFFICESTATE BANKSTOCK EXCHANGESTOCK EXCHANGESSTRATEGIC INVESTORSSUPERVISORY AGENCIESSUPERVISORY AUTHORITYTERRORISMTRADINGTRANSACTIONTRANSACTION COSTSTREASURYTREASURY BONDSUNDERLYING ASSETSUNSECURED CLAIMSVALUATION10.1596/20583