VIETNAM - Luxembourg supports early warning system for Vietnamese Financial Market
From 8 – 12 April 2019, Project VIE/032 and Vietnam’s National Supervision Commission (NFSC) jointly organised a training workshop on an Early Warnings System for the financial market in Vietnam.
The five-day workshop, led by Banque Centrale de Luxembourg’s Senior Economics Consultant, provided concepts and a range of risk management tools to NFSC key officials. The workshop aimed to improve forecasting capability as well as analyse and assess risks to build an effective early warning system.
The trainees had opportunities to apply early warning system models and work on the pros and cons of each model in a policy assessment process.
A tool such as an early warning system is not only vital for maintaining the stability of Vietnam's financial market but also ensures that NFSC can fully play their rolein supervising and assessing risks for the entire financial sector: from banking, securities, insurance to a large number of financial corporations, as well as in building financial forecast models.
Based on their experience with this course, NFSC will consider developing an adaptive model that meets the needs of Vietnam’s financial market based on the skills and knowledge transferred through Luxembourg know how.
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