Circular 04/2026/TT-NHNN guiding some contents in deposit insurance

CIRCULAR

Guiding some contents in deposit insurance

Pursuant to Law No. 46/2010/QH12 on the State Bank of Vietnam;

Pursuant to Law No. 111/2025/QH15 on Deposit Insurance;

Pursuant to the Government’s Decree No. 26/2025/ND-CP, defining the functions, tasks, powers and organization structure of the State Bank of Vietnam;

At the proposal of the Director of Credit Institution System Safety Department;

The Governor of the State Bank of Vietnam promulgates the Circular guiding some contents in deposit insurance.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular provides detailed regulations on Clause 5 Article 14, Clause 1 Article 19, Clause 8 Article 19, Clause 3 Article 29, and Clause 3 Article 33 of the Deposit Insurance Law; provisions relating to: deposit insurance premiums, the payment of deposit insurance, and the opening and use of accounts of the Deposit Insurance of Vietnam at payment service providers and inspection activities conducted according to the plan and scope assigned by the State Bank of Vietnam (below referred to as the State Bank).

Article 2. Subjects of application

This Circular is applied to the following entities:

1. The Deposit Insurance of Vietnam.

2. Institutions or organizations participating in the deposit insurance include commercial banks, branches of foreign banks, cooperative banks, people's credit funds and microfinance institutions.

3. Insured depositors.

4. Organizations or individuals involved in the deposit insurance activities.

Chapter II

DEPOSIT INSURANCE ACTIVITIES

Article 3. Deadline for the deposit insurance premium’s payment

1. Deposit insurance premium is calculated and paid every quarter of a fiscal year. The insured institutions must calculate and pay deposit insurance premium to the Deposit Insurance of Vietnam on 20th day of the first month of a payment quarter at the latest. If the final date on which due payment of insurance premium must be made is a holiday or day off, the insured institutions must fulfill their payment obligations at a consecutive date.

2. Within 15 days from the expiration of the deposit insurance premium payment deadline specified in Clause 1 of this Article, the Deposit Insurance of Vietnam shall issue a written notice to the institution participating in deposit insurance regarding the calculation and payment of the deposit insurance premium, clearly indicating any amount subject to additional collection or refund (if any). Institutions participating in deposit insurance shall pay any remaining premiums, the Deposit Insurance of Vietnam shall refund any excess premiums (if any) within a maximum of 15 days from the date of notification.

3. In the event of any inaccuracies detected in the calculation and payment of deposit insurance premiums, the Deposit Insurance of Vietnam shall act in accordance with Clause 2, Article 20 of the Deposit Insurance Law.

Article 4. Calculation of deposit insurance premiums

1. Deposit insurance premiums shall be calculated based on the average balances of an insured deposit made at an insured institution, according to the following rates:

a) 0.15% per year, except as otherwise provided at Points b and c of this Clause;

b) 0.1% per year for people’s credit funds;

c) Other premium rates as decided by the Governor of the State Bank under Clause 11 of this Article.

2. Calculation of deposit insurance premium during a payment quarter is based on all average balances of an insured deposit made at an insured institution in the preceding quarter ahead of the quarter of insurance premium payment.

3. Amount of deposit insurance premium payables in a payment quarter is calculated in the following formula:

Where:

- P: amount of deposit insurance premium payables in the quarter of insurance premium payment.

- S0: amount of balances of insured deposits in the beginning of first month of preceding quarter ahead of the quarter of insurance premium payment.

- S1, S2, S3: amount of balances of insured deposits at the end of first, second and third month of the preceding month ahead of the quarter of insurance premium payment.

- m: amount of deposit insurance premium payables in accordance with Clause 1 of this Article.

4. If insured institutions calculate and pay premiums for the first quarter of insurance premium payment’s participation in the deposit insurance, the following formula shall be applicable:

Where:

- P: amount of deposit insurance premium payables in the first quarter of insurance premium payment.

- Si: amount of balances of insured deposits in day i (i=1 →n); S1: amount of balances of insured deposits at the end of the first day when deposits are made; Sn: amount of balances of insured deposits at the end of the quarter immediately prior to the first premium-collection quarter).

- m: amount of deposit insurance premium payables in accordance with Clause 1 of this Article.

5. In the event that a decision is made to put the institution under special control, the amount of deposit insurance premium payables shall be calculated according to the formula prescribed in Clause 4 of this Article; where Si refers to the amount of balances of insured deposits in day i (i=1 →n); S1 refers to the amount of balances of insured deposits at the end of the first day of the quarter in which the decision to place the institution under special control takes effect; Sn refers to the amount of balances of insured deposits at the end of the last day prior to the effective date of the decision to place under special control.

6. In the event that a decision is made to cancel the special control and resume normal operations, the amount of deposit insurance premium payables shall be calculated according to the formula prescribed in Clause 4 of this Article; where Si refers to the amount of balances of insured deposits in day i (i=1 →n); S1 refers to the amount of balances of insured deposits at the end of the day immediately following the effective date of the decision to cancel special control; Sn refers to the amount of balances of insured deposits at the end of the last day of the quarter in which the decision to cancel special control takes effect.

7. Institutions participating in deposit insurance, after a merger or consolidation shall determine deposit insurance premiums in accordance with the formula prescribed in Clause 3 of this Article, where S0 refers to the total amount of balances of insured deposits in the beginning of first month of preceding quarter ahead of the quarter of insurance premium payment of the institutions participating in deposit insurance that are involved in a merger or consolidation; S1, S2, S3 refer to the total amount of balances of insured deposits at the end of first, second and third month of the preceding month ahead of the quarter of insurance premium payment of the institutions participating in deposit insurance that are involved in a merger or consolidation and of the institutions participating in deposit insurance after such merger or consolidation.

8. In the event that an institution participating in deposit insurance terminates special control and undergoes a merger or consolidation within the same quarter, the post-merger or post-consolidation institution participating in deposit insurance shall determine the premium in accordance with the formula P = P1 + P2 + P3.

Where:

P1 shall be calculated according to the formula prescribed in Clause 4 of this Article; where S1 refers to the balance of insured deposits at the end of the day immediately following the effective date of the termination of special control for the institution participating in deposit insurance that had been placed under special control; Sn refers to the balance of insured deposits at the end of the day immediately preceding the effective date of the merger or consolidation of the institution participating in deposit insurance that had been placed under special control.

P2 shall be calculated according to the formula prescribed in Clause 4 of this Article; where S1 refers to the balance of insured deposits at the end of the first day of the quarter immediately preceding the premium-collection quarter for the institution participating in deposit insurance that is not placed under special control and involved in a merger or consolidation; Sn refers to the balance of insured deposits at the end of the day immediately preceding the effective date of the merger or consolidation of the institution participating in deposit insurance that is not placed under special control and involved in a merger or consolidation.

P3 shall be calculated according to the formula prescribed in Clause 4 of this Article; where S1 refers to the balance of insured deposits at the end of the day on which the merger or consolidation takes effect for the institution participating in deposit insurance after the merger or consolidation; Sn refers to the balance of insured deposits at the end of the quarter immediately preceding the premium-collection quarter of the institution participating in deposit insurance after the merger or consolidation.

9. In the event that a participating institution is established as a result of a split, the deposit insurance premium shall be calculated in accordance with the formula prescribed in Clause 4 of this Article; where S1 refers to the balance of insured deposits at the end of the opening day of operations, Sn refers to the balance of insured deposits at the end of the quarter immediately preceding the quarter in which the deposit insurance premium is paid for the first time.

10. In the event that a institution participating in deposit insurance is established as a result of a split, the deposit insurance premium shall be calculated according to the formula P = P1 x T + P2. Where:

P1 shall be calculated according to the formula prescribed in Clause 4 of this Article; where S1 refers to the balance of insured deposits at the end of the first day of the quarter immediately preceding the premium-collection quarter of the institution participating in deposit insurance before the split; Sn refers to the balance of insured deposits at the end of the day immediately preceding the opening day of operations of the institution participating in deposit insurance established after the split, relating to the institution participating in deposit insurance before the split.

T refers to the ratio of insured deposit balances of the institution participating in deposit insurance after the split and the balance of insured deposits of the institution participating in deposit insurance before the split at the moment of the split.

P2 shall be calculated according to the formula prescribed in Clause 4 of this Article; where S1 refers to the balance of insured deposits at the end of the opening day of operations of the institution participating in deposit insurance established after the split; Sn refers to the balance of insured deposits at the end of the quarter immediately preceding the premium-collection quarter of the institution participating in deposit insurance established after the split.

11. In the event that the Deposit Insurance of Vietnam obtains a special loan from the State Bank to make deposit payouts, the Governor of the State Bank shall consider make a decision regarding the increase of deposit insurance premiums on the basis of the proposed plan for premium adjustment upon the proposal submitted by the Deposit Insurance of Vietnam under Clause 3, Article 19 of the Deposit Insurance Law.

Article 5. Temporary suspension of deposit insurance premium payment

1. Upon receiving a decision to place a credit institution under special control, or a decision to extend the duration of special control, the Deposit Insurance of Vietnam shall require the institution participating in deposit insurance to calculate the amount of any unpaid deposit insurance premiums, late payments and any accrued late payment charges (if any) that arose prior to the date on which the institution participating in deposit insurance was placed under special control.

2. No later than 10 working days from the date of receipt of the proposal from The Deposit Insurance of Vietnam, the institution participating in deposit insurance shall submit a written notice to the Deposit Insurance of Vietnam regarding any unpaid deposit insurance premiums, late payments and any accrued late payment charges (if any) that arose prior to the date on which the institution participating in deposit insurance was placed under special control.

3. Within 5 working days from the date of receipt of the written notice from the institution participating in deposit insurance, the Deposit Insurance of Vietnam shall confirm the deposit insurance premiums of the participating institution that have been temporarily suspended.

4. The institution participating in deposit insurance under special control shall prepare a plan for the full repayment of temporarily suspended amounts as part of the restructuring plan, and submit the plan, once approved by the competent authority, to the Deposit Insurance of Vietnam.

Article 6. Amount of insurance payout

1. The amount of insurance to be paid for all insured deposits held by a person at an institution participating in deposit insurance shall consist of the principal and the interest accrued as of the time the obligation to make the insurance payment arises, up to the maximum deposit insurance payout limit prescribed in Article 22 of the Deposit Insurance Law. The amount of insurance payout in the event that insured deposits are held jointly by multiple persons shall be carried out in accordance with Clause 2, Article 23 of the Deposit Insurance Law.

2. In the event that the depositor owes a debt to the institution participating in deposit insurance, the amount of insured deposits shall be calculated as the remaining balance after deducting such debt (comprising both principal and accrued but unpaid interest).

Article 7. Procedures for insurance coverage claims

1. Within a period of 05 (five) working days from the moment when obligations to pay insurance coverage are incurred, the insured institutions must send documentation to the Deposit Insurance of Vietnam to claim their insurance coverage. Documentation of the request for the insurance coverage payment must be signed by the legal representatives of the insured institutions, including:

a) Written request for insurance coverage claims according to the form regulated by the Deposit Insurance of Vietnam;

b) List of insured depositors according to the form regulated by the Deposit Insurance of Vietnam, which clearly specifies the amount of insured deposits and debts of the insured institutions (if any) to be paid to each insured depositor by the date on which obligations to pay insurance coverage by the insured institutions are incurred; the amount of insurance coverage to be paid to each insured depositor.

2. Within a period of 05 (five) working days from the full receipt of documentation to claim insurance coverage according to regulations specified in Clause 1 of this Article, the Deposit Insurance of Vietnam can proceed to examine relevant documents and records to determine the amount of insurance coverage payables.

The insured institutions shall provide documents and records required by the Deposit Insurance of Vietnam to serve the purposes of examination and determination of the amount payables.

If there is any sign of violations during the examination of documents and records to determine the amount payables beyond their scope of administrative competencies, the Deposit Insurance of Vietnam must inform and petition the State Bank to consider, examine, inspect and handle these violations.

Depending on the result of examination conducted by the Deposit Insurance of Vietnam and documentation of insurance coverage claim submitted by the insured institutions, the Deposit Insurance of Vietnam shall compile a list of insured depositors and the amount of insurance coverage paid to each insured depositor.

3. Within a period of 10 (ten) working days from the completion date of examination according to the regulations specified in Clause 2 of this Article, the Deposit Insurance of Vietnam must set up the payment plan to pay the insurance coverage to insured depositors; publicly notify the information about venue, time and mode of insurance coverage payment on three successive publication of central-governed newspapers and local newspapers at the area where its main office and branches of insured institutions are located, and also on an online newspaper in Vietnam, the website of the Deposit Insurance of Vietnam and other forms as decided by the Deposit Insurance of Vietnam.

Article 8. Opening and using the deposit insurance account of the Deposit Insurance of Vietnam at the payment service providers

The Deposit Insurance of Vietnam is eligible to open demand deposits at the payment service providers in accordance with the regulations of the State Bank on the opening and use of payment accounts at the payment service providers and is only allowed to use these accounts as the methods of payment for relevant activities of the Deposit Insurance of Vietnam. In the event that the Deposit Insurance of Vietnam opens an account at the State Bank, the Deposit Insurance of Vietnam shall comply with the provisions of Article 9 of this Circular.

Article 9. Opening the deposit insurance account at the State Bank

1. The Deposit Insurance of Vietnam is entitled to open the deposit account at the State Bank for the purpose of receiving special loans from the State Bank and depositing funds in accordance with point b, Clause 1 and Clause 2, Article 29 of the Deposit Insurance Law. The accounts of the Deposit Insurance of Vietnam shall be paid interests at the rate decided by the Governor of the State Bank and applied for each period.

2. Procedures for opening the account of the Deposit Insurance of Vietnam at the State Bank shall shall be implemented in the same manner as the procedure for opening the demand accounts applied to credit institutions and branches of foreign banks at the State Bank.

Chapter III

METHODS OF INVESTMENT, SUPERVISION, AND RISK MANAGEMENT IN INVESTMENT OPERATIONS

Article 10. Methods of investment

1. The Deposit Insurance of Vietnam shall directly conduct investments with respect to the investment activities prescribed in Clause 1, Article 29 of the Deposit Insurance Law.

2. The Deposit Insurance of Vietnam is authorized to undertake entrusted investments with respect to the following activities:

a) Buying and selling government bonds;

b) Buying and selling bonds issued by commercial banks with more than 50% of charter capital held by the State, and joint-stock commercial banks with over 50% of charter capital held by state-owned enterprises.

3. In the event of entrusted investment, the Deposit Insurance of Vietnam must clearly specify in the annual investment plan approved by the Board of Directors, at least the following matters:

a) The rationale for investing by means of entrustment;

b) The principles and criteria for selecting the entrusted investment institutions, where such institutions are fund management companies, securities companies, or commercial banks with the function of receiving entrusted investments as prescribed by relevant laws;

c) The details of the entrusted investment: scope and products of the entrustment; rights, duties, and commitments of all parties; duration of the entrustment; costs of entrustment; dispute settlement and other related contents;

d) The plan for handling cases that the entrusted institution fails to perform the entrusted investment tasks;

dd) Measures for managing and ensuring control over the activities within the scope of the entrusted investment by the entrusted institution;

e) Any other matters (if any).

4. The Deposit Insurance of Vietnam shall decide on the selection of the entrusted investment institution and sign the contract. The contract must include the contents prescribed at Points c and d, Clause 3 of this Article.

Article 11. Risk control and management

1. The Deposit Insurance of Vietnam shall promulgate regulations on investment, risk management in investment operations and internal auditing in accordance with the provisions of Article 12 of this Circular, as well as other regulations required for risk control and management in the investment activities of the Deposit Insurance of Vietnam.

2. The Deposit Insurance of Vietnam shall conduct investments in accordance with the approved annual investment plan and six-month investment scheme; regularly evaluate the implementation status in order to take measures within its authority and report to the Board of Directors for adjustments or additions (if necessary).

3. The Deposit Insurance of Vietnam shall regularly update information on market conditions; investment performance; reconcile the invested amounts, amounts due for recovery, and the balances of each investment and each investment target for the purpose of risk control and management.

4. The Deposit Insurance of Vietnam must establish a risk control mechanism in investment operations to promptly detect, propose preventive and corrective measures for risks.

5. The Deposit Insurance of Vietnam shall allocate risk provisions for investment activities in accordance with the financial framework applicable to deposit insurance institutions.

Article 12. Professional regulations

1. Investment regulations, including at least the following contents: criteria for the investment portfolio; entrusted investment operations; procedures for establishing the investment structure and measures to achieve the investment structure; procedures for developing the annual investment plan and the six-month investment scheme; procedures, documentation, and records for each investment as prescribed in Clause 1, Article 29 of the Deposit Insurance Law; reporting requirements; responsibilities of relevant units and individuals.

2. Risk management regulations in investment activities shall include at least the following contents: types of risks affecting investment activities; identification, prevention, and handling of each type of risk; methods and frequency of self-assessment and risk control; procedures for handling risks when arising; responsibilities of relevant units and individuals.

3. Internal audit regulations shall include at least the following contents: the scope, methods, procedures, and frequency of conducting internal audits of investment activities; responsibilities of relevant units and individuals when conducting internal audits; procedures for handling internal audit recommendations; reporting requirements.

Article 13. Internal audit of investment activities

On a yearly basis or upon management request, the Deposit Insurance of Vietnam shall conduct internal audits of investment activities to assess compliance with law provisions, the annual investment plan and professional regulations and procedures related to investment activities.

Chapter IV

PROVISION OF INFORMATION AND INSPECTION ACTIVITIES OF THE DEPOSIT INSURANCE OF VIETNAM

Article 14. Provision of information

1. The institution participating in deposit insurance shall establish, update, and fully maintain accurate information in a manner that ensures integrity, as prescribed in Appendix I and Appendix II attached to this Circular.

2. The Deposit Insurance of Vietnam shall ensure the safety and confidentiality of information and data in compliance with law provisions.

3. On a monthly and quarterly basis, the institution participating in deposit insurance shall provide information for the Deposit Insurance of Vietnam in accordance with Appendix II attached to this Circular, except for forms 02b/BHTG, 02b1/BHTG, and 02b2/BHTG, which shall be submitted only in certain specific cases as prescribed in Appendix II.

4. In the event of preparation for insurance payments or other cases related to the insurance payment upon the request of the Deposit Insurance of Vietnam, the institution participating in deposit insurance shall provide a detailed customer list and related data in accordance with Appendix I attached to this Circular. The information must be provided no later than 5 working days from the date of receipt of the request.

5. The institution participating in deposit insurance shall provide information regarding insured deposits on an exceptional basis upon the written request of the Deposit Insurance of Vietnam.

6. In cases related to inspections conducted by the Deposit Insurance of Vietnam, the institution participating in deposit insurance shall provide information upon the written request of the Deposit Insurance of Vietnam. The institution participating in deposit insurance has the right to decline to provide information that is not relevant to the scope of the inspection.

7. The Deposit Insurance of Vietnam shall instruct the institution participating in deposit insurance regarding the procedures and formats for information provision.

Article 15. Inspection of institutions participating in deposit insurance in accordance with the plan and content assigned by the State Bank

1. The Deposit Insurance of Vietnam shall conduct inspections of institutions participating in deposit insurance in accordance with the plan and content assigned by the State Bank as prescribed in Clause 10, Article 14 of the Deposit Insurance Law, specifically as follows:

a) The Deposit Insurance of Vietnam shall develop, promulgate, amend, and supplement the inspection regulations for institutions participating in deposit insurance in accordance with Point b of this Clause and submit to the State Bank for review prior to their issuance or amendment. Within 7 working days from the date of issuance or amendment, the Deposit Insurance of Vietnam must send the inspection regulations to the State Bank and to the institutions participating in deposit insurance.

b) The inspection regulations for institutions participating in deposit insurance must be approved by the Board of Directors and shall include at least the following contents:

(i) Principles of inspection;

(ii) Procedures for conducting inspections;

(iii) Responsibilities of the Head of the inspection team, team members, relevant departments and units within the Deposit Insurance of Vietnam, and other involved parties.

2. Within 7 working days from the date of finalizing the inspection results in accordance with Clause 1 of this Article, the Deposit Insurance of Vietnam shall:

(i) Report the inspection results of foreign bank branches subject to micro-supervision to the corresponding regional branch of the State Bank;

(ii) Report the inspection results of people’s credit funds to the regional branch of the State Bank where the people’s credit funds are headquartered;

(iii) Report the inspection results of other institutions participating in deposit insurance to the State Bank Inspectorate.

3. The Deposit Insurance of Vietnam shall coordinate with the State Bank in developing the plan and content of inspections for institutions participating in deposit insurance.

4. Prior to January 30 of each year, the State Bank shall assign to the Deposit Insurance of Vietnam the plan and content of inspections for institutions participating in deposit insurance. The inspection plan shall comprise at least the following contents:

a) A list of institutions participating in deposit insurance to be inspected;

b) The inspection content;

c) The inspection schedule and deadlines for reporting results;

d) Guidelines for conducting inspections (if necessary).

Chapter V

ORGANIZATION OF IMPLEMENTATION

Article 16. Responsibilities of the State Bank’s affiliates

1. The Credit Institutions Supervision Department shall:

a) Supervise the Deposit Insurance of Vietnam in complying with the law provisions on deposit insurance;

b) Assume the prime responsibility for and cooperate with relevant agencies to advise the Governor of the State Bank in considering and deciding on the increase of deposit insurance premiums in accordance with Clause 11, Article 4 of this Circular;

c) Cooperate with the State Bank Inspectorate in performing the duties prescribed at Point c, Clause 2 of this Article.

2. The State Bank Inspectorate shall:

a) Inspect, audit, handle violations, and resolve complaints and denunciations related to deposit insurance in accordance with the Deposit Insurance Law;

b) Inspect and audit the Deposit Insurance of Vietnam regarding its compliance with law provisions on deposit insurance;

c) Assume the prime responsibility for, report to the Governor of the State Bank to assign the Deposit Insurance of Vietnam to conduct inspections of institutions participating in deposit insurance; review and receive the inspection regulations for institutions participating in deposit insurance in accordance with Article 15 of this Circular.

3. The Monetary Policy Department shall:

Assume the prime responsibility for and cooperate with relevant agencies to counsel the Governor of the State Bank to determine the rate of interest on deposits owned by Deposit Insurance of Vietnam in the State Bank.

4. Transaction offices shall:

Guide Deposit Insurance of Vietnam to open the deposit account in the State Bank, purchase the Treasury bill issued through the State Bank according to the regulations specified in this Circular and other legal regulations.

5. The regional branch of the State Bank shall:

a) Inspect, audit, handle violations, and resolve complaints and denunciations concerning deposit insurance within its area;

b) Cooperate with the State Bank Inspectorate in performing the duties prescribed at Point c, Clause 2 of this Article.

Article 17. Implementation provisions

1. This Circular takes effect from May 1, 2026, except for the provisions specified in Clause 2 of this Article.

2. The deposit insurance premium rate for people’s credit funds, as prescribed at Point b, Clause 1, Article 4 of this Circular, shall be implemented from the premium-collection fourth quarter of 2026.

3. Upon the effective date of this Circular, the Governor of the State Bank of Vietnam’s Circular No. 24/2014/TT-NHNN of September 6, 2014, guiding some contents in deposit insurance, shall cease to be effective.

Article 18. Responsibilities for organization of implementation

Heads of units under the State Bank, institutions participating in deposit insurance, the Deposit Insurance of Vietnam shall implement this Circular./.

* All Appendices are not translated herein.