Decree on Prevention and Resolution of Financial System Crises
关于预防和化解金融体系危机的政令
ດຳລັດວ່າດ້ວຍ ການສະກັດກັ້ນ ແລະ ແກ້ໄຂ ວິກິດການຂອງລະບົບການເງິນ
Summary
This regulation addresses the prevention and resolution of financial system crises in Laos, establishing monitoring, information exchange, and early intervention mechanisms to maintain financial stability and protect depositors, policyholders, and investors.
Articles
Article ມາດຕາ 1
Article 2 Prevention and Resolution of Financial System Crisis
Prevention of financial system crisis is the process of monitoring, exchanging information, and taking early measures to prevent the occurrence of a financial system crisis.
Resolution of financial system crisis is the process of applying measures to control and resolve a financial system crisis in order to restore the financial system to normal conditions.
Article ມາດຕາ 2
Article 2 Definition of Terms
The terms used in this Decree have the following meanings:
1. Financial system refers to the interrelated financial and monetary infrastructure to facilitate the mobilization of funds from the public and/or the allocation of such funds to support socio-economic activities, operated by entities in the financial system;
2. Entity in the financial system refers to banks, non-bank financial institutions, insurance companies, securities companies, investment fund management companies, stock exchanges, and other entities engaged in activities related to the financial system and financial and monetary infrastructure as determined by the Financial System Stability Committee;
3. Financial safety net refers to the system for maintaining the stability of the financial system, consisting of regulatory authorities, deposit protection agency, legislation, and implementation procedures to help strengthen and mitigate the impact of financial system crises;
4. Regulatory authority refers to the Bank of the Lao PDR, the Ministry of Finance, the Securities Management Committee, and other units responsible for managing and supervising entities in the financial system in accordance with relevant laws and regulations.
Article ມາດຕາ 3
Article 4 Principles on Prevention and Resolution of Financial System Crisis
The work of preventing and resolving financial system crises shall follow the following principles:
1. Be in accordance with laws, strategic plans, and national socio-economic development plans;
2. Ensure the stability of the financial system;
3. Ensure objective, fair, and timely implementation;
4. Ensure coordination and timely exchange of information;
5. Protect the legitimate rights and interests of depositors, policyholders, and investors.
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