Summary
This S-PATA is designed to scope options for establishing a macroprudential framework and build capacity of the FSD.
The impact of the S-PATA will be stronger interagency and intra-agency coordination on financial stability. The expected outcome of the S-PATA is the SBV has a clear roadmap on developing a well-functioning institutional framework for macroprudential policy and capacity development needs. Stronger interagency and intra-agency coordination will help the SBV to monitor financial soundness and strengthen safeguards against financial instability so as to support restructuring efforts and to develop the banking sector as a solid foundation for macroeconomic and financial developments.
ADB and/or other development partner may consider following up with a larger scale capacity development TA to institutionalize and implement policy recommendations generated from this S-PATA.
Latest Project Documents
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
| Project Name |
Enhancing Financial Stability (Scoping) |
| Project Number |
47302-001 |
| Country |
Viet Nam |
| Project Status |
Closed |
| Project Type / Modality of Assistance |
Technical Assistance
|
| Source of Funding / Amount |
| TA 8538-VIE: Enhancing Financial Stability (Scoping) |
|---|
| Technical Assistance Special Fund |
US$ 225,000.00 |
|
| Strategic Agendas |
Inclusive economic growth
|
| Drivers of Change |
Governance and capacity development
Knowledge solutions
|
| Sector / Subsector |
Finance
- Finance sector development |
| Gender Equity and Mainstreaming |
|
| Description |
This S-PATA is designed to scope options for establishing a macroprudential framework and build capacity of the FSD. The impact of the S-PATA will be stronger interagency and intra-agency coordination on financial stability. The expected outcome of the S-PATA is the SBV has a clear roadmap on developing a well-functioning institutional framework for macroprudential policy and capacity development needs. Stronger interagency and intra-agency coordination will help the SBV to monitor financial soundness and strengthen safeguards against financial instability so as to support restructuring efforts and to develop the banking sector as a solid foundation for macroeconomic and financial developments. ADB and/or other development partner may consider following up with a larger scale capacity development TA to institutionalize and implement policy recommendations generated from this S-PATA. |
| Project Rationale and Linkage to Country/Regional Strategy |
To achieve greater financial stability, the State Bank of Viet Nam (SBV) has requested technical assistance (TA) from the Asian Development Bank (ADB) to setup an institutional framework for macro-prudential policy. This is a key recommendation of the Financial Sector Assessment Program (FSAP) recently conducted by the International Monetary Fund (IMF) and World Bank. Specific outputs in requested TA include: (i) macroprudential policy framework and mechanisms for intra-agency and inter-agency coordination and information exchange, (ii) design of macroprudential policy instruments that best suit Viet Nam's circumstances and current stage of financial sector development, and (iii) medium-term capacity development program for FSD staff. |
| Impact |
Stronger interagency and intra-agency coordination on financial stability |
Project Outcome
| Description of Outcome |
SBV has established an institutional structure for performing financial stability functions and a clear roadmap for establishing a macroprudential framework and for scaling up its capacity to effectively carry out macroprudential policy |
| Progress Toward Outcome |
|
| Implementation Progress |
|---|
| Description of Project Outputs |
1. Framework options for macroprudential policy and mechanisms for intra-agency and inter-agency coordination and information exchange 2. Design options for macroprudential policy and its instruments that best suit Viet Nam's circumstances and current stage of financial sector development 3. Medium-term capacity building and training program |
| Status of Implementation Progress (Outputs, Activities, and Issues) |
|
| Geographical Location |
|
Summary of Environmental and Social Aspects
| Environmental Aspects |
|
| Involuntary Resettlement |
|
| Indigenous Peoples |
|
| Stakeholder Communication, Participation, and Consultation |
|---|
| During Project Design |
State Bank of Viet Nam. Some key donnors (World Bank, IMF...) |
| During Project Implementation |
SBV will be the Executing Agency (EA). The FSD will implement the TA. Other stakeholders include the BSA, commercial banks and relevant agencies. The SBV management will exercise oversight of the S-PATA support. |
Business Opportunities
| Consulting Services |
The S-PATA will require a total of 110 days of international consultant inputs and 50 days of national consultant inputs, including an international macroprudential (operation) specialist (65 days intermittent during January-October 2014), an international macroprudential (policy) specialist (35 days intermittent during January-October 2014), an international financial regulatory lawyer (10 days intermittent during January-September 2014), a national financial specialist (30 days intermittent during January-October 2014), and a national administrative assistant (20 days intermittent during January-October 2014). |
Responsible Staff
| Responsible ADB Officer |
Dominic Mellor |
| Responsible ADB Department |
Southeast Asia Department |
| Responsible ADB Division |
Viet Nam Resident Mission |
| Executing Agencies |
State Bank of Vietnam
47-49 Ly Thai To Street
Hanoi
Vietnam
|
Timetable
| Concept Clearance |
-
|
| Fact Finding |
21 Oct 2013
to 23 Oct 2013 |
| MRM |
-
|
| Approval |
04 Dec 2013 |
| Last Review Mission |
-
|
| Last PDS Update |
28 Nov 2013 |
TA 8538-VIE
| Milestones |
|---|
| Approval |
Signing Date |
Effectivity Date |
Closing |
| Original |
Revised |
Actual |
| 04 Dec 2013 |
-
|
04 Dec 2013 |
31 Oct 2014 |
30 Apr 2015 |
-
|
| Financing Plan/TA Utilization |
Cumulative Disbursements |
| ADB |
Cofinancing |
Counterpart |
Total |
Date |
Amount |
| Gov |
Beneficiaries |
Project Sponsor |
Others |
| 225,000.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
225,000.00 |
04 Dec 2013 |
184,370.49 |
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
None currently available.
Related Publications
None currently available.
The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.