The State Bank of Vietnam held a system-wide training conference on Circular 83/2025/TT-NHNN, which updates internal control system requirements for commercial banks and foreign bank branches and brings risk management expectations closer to Basel Committee standards. The circular takes effect on 1 July 2026, with a roadmap that makes certain requirements mandatory from 1 January 2028 while allowing eligible banks to adopt selected new provisions earlier. Circular 83 is built on the 2024 Law on Credit Institutions and is organised around three areas: internal mechanisms, policies and procedures; organisational structure; and the implementation of the internal control system. Key additions and revisions include stress testing for credit risk, market risk and interest rate risk in the banking book, an updated “three lines of defence” framework linked to functions rather than fixed organisational structures, and new requirements on risk data management and model risk management. The central bank indicated it will continue issuing related risk governance frameworks, including replacements for rules on prudential limits and safety ratios for banks and foreign bank branches, and for internal control requirements for non-bank credit institutions, and will run further training programmes to support consistent implementation.
State Bank of Vietnam 2026-03-19
State Bank of Vietnam details Basel-aligned internal control reforms for banks under Circular 83 effective 1 July 2026
The State Bank of Vietnam held a training conference on Circular 83/2025/TT-NHNN, updating internal control system requirements for banks to align with Basel Committee standards. Effective 1 July 2026, the circular mandates stress testing, a revised "three lines of defence" framework, and enhanced risk data management. The central bank plans to issue further risk governance frameworks and conduct additional training for consistent implementation.