Conditions and the readiness to apply the Basel Accord depends on several factors such as: current status of risk management system of banks; expected cost/benefi, and the pressure level of the central bank. According to the point of central bank, the factors will be considered when preparing the new treaty including: The national priorities; The availability of legal framework and management; The accounting standards; human resources and expert staff; Discipline market presence and level of reliability of the credit rating companies.
CONCLUSION
The Basel Accord with standardized content of credit risk, market risk and operational risk management is considered a turning point in the process of reforming the global risk management. Due to the benefit of this accord, the Basel Accord in general and Basel II in particular has become global standards on risk management.
According to the investigation of the Basel Committee on Banking Supervision, there has nearly 100 national banks of countries outside the G-10 state of intent to implement the Basel Accord in the domestic commercial bank system’s operational framework. It can not be denied that the bank managers of developing countries are under pressure to move in the direction of Basel II, Basel III.
It is the fact that as other banking systems, the goal of Vietnam's banking system is safe, effective and sustainable. Furthermore, in comparison with international practice, the level of risk in credit activities of commercial banks in Vietnam, especially in the state banks is quite high and difficult to anticipate the consequences. Therefore, the analysis and application of the Basel standards is not only essential to ensure the safe operation of commercial banks in Vietnam but also is the safety of the entire economy in the context of international economic integration.
With these strict standards, Basel in general and Basel II in particular creates real challenges in the implementation, even for the modern banks in the world. So, it is not surprise the application of the Basel experiences major
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barriers in the banking systems of developing countries, including Vietnam, requires the cooperation and consensus of many related departments.
By combining the methods of analysis, synthesis, statistics, comparisons,
... based on the basic criteria of the banking monitoring committee BIS and practices of Vietnamese commercial banks, thesis “Risk management in business of Vietnamese Commercial Banks under the Basel Accord” has completed the following contents:
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The Content Of Risks Management In Business Of Commercial Banks According To The Basel Accord -
Quản trị rủi ro trong kinh doanh của ngân hàng thương mại Việt Nam theo hiệp ước Basel - 33
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1. Systematize the theory of risk management standards under the Basel Accord; outlines the basic content of the Basel I, Basel II and Basel III, comparing differences and conditions to apply the Basel standards;
2. Analysis the situtation of Vietnamese commercial banks’ operation under the current Basel standards, with the opportunities and challenges of Vietnam commercial banking system in the process of international economic integration.
3. Proposes solutions and recommendations to Vietnamese commercial banks to access and apply the standards of risk management in banking activities under the Basel Accord.
Solutions and recommendations of the thesis is based on banking sector’s development strategies by 2020 and trend of regional and global economic integration. However, successful application of the Basel standards, particularly Basel II, in Vietnam commercial banking system is a major problem, which requires time and coordination of multiple related departments. Therefore, solutions and recommendations of the thesis is an initial contribution to the process of applying the standards of risk management in banks’operation under the Basel in Vietnamese commercial banks.
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