Illustrative image (Photo: VNA) Hanoi (VNA) - The Southeast AsiaCommercial Joint Stock Bank (SeABank) said it has completed the second pillar of Basel II standards, which issupervisory review.
Together with therealisation of the first and third pillars of Basel II - minimum capitalrequirements and market discipline - last October, SeABank becomes the fifthbank in Vietnam to complete all three pillars.
Basel II is the secondedition of the Basel Accords, which are recommendations on banking law andregulations issued by the Basel Committee on banking supervision. It aims toenhance competition and transparency in the banking system and make banks moreresistant to market changes.
Under the second pillar, a bank must have anInternal Capital Adequacy Assessment Process (ICAAP) in place. It must conductperiodic internal capital adequacy assessments in accordance with its riskprofile and determine a strategy for maintaining the necessary capital level.
The four other banks thatcompleted the three pillars are the Vietnam International Commercial JointStock Bank (VIB), the Tien Phong Commercial Joint Stock Bank (TPBank), the VietnamProperty Joint Stock Commercial Bank (VPBank), and the Vietnam Maritime CommercialJoint Stock Bank (MSB)./.
VNA
