Circular 23/2025/TT-NHNN amend Circular 30/2019/TT-NHNN on required reserves

CIRCULAR

Amending and supplementing a number of articles of Circular No. 30/2019/TT-NHNN dated December 27, 2019 of the Governor of the State Bank of Vietnam, prescribing required reserves of credit institutions and foreign bank branches

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

Pursuant to the Law No. 32/2024/QH15 on Credit Institutions;

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

At the proposal of the Director of the Monetary Policy Department;

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of Circular No. 30/2019/TT-NHNN dated December 27, 2019 of the Governor of the State Bank of Vietnam, prescribing required reserves of credit institutions and foreign bank branches.

Article 1. Amending and supplementing a number of clauses of Article 3 of the Circular No. 30/2019/TT-NHNN

To add Clause 4 to Article 3 as follows:

“4. The Policy Bank.”

Article 2. Amending and supplementing Article 7 of the Circular No. 30/2019/TT-NHNN

To amend and supplement Article 7 as follows:

“Article 7. Reduction of the required reserve ratio

1. A support-providing credit institution defined in Clause 39, Article 4 of the Law on Credit Institutions (hereinafter referred to as support-providing credit institution) is entitled to 50%-reduction of the required reserve ratio under a plan on recovery of credit institution placed under special control that has been approved by the competent authority (hereinafter referred to as approved recovery plan).

2. A credit institution being the mandatory transferee of a commercial bank placed under special control under the Law on Credit Institutions (hereinafter referred to as credit institution being the transferee) is entitled to 50%-reduction of the required reserve ratio under a plan on mandatory transfer of commercial bank placed under special control that has been approved by the competent authority (hereinafter referred to as approved plan on mandatory transfer).

3. The reduction amount of the required reserve ratio for each credit institution specified in Clauses 1 and 2 of this Article shall be calculated on the basis of the compulsory reserve ratio applied to that credit institution defined in Clause 1, Article 6 of this Circular and shall apply to all types of deposits subject to required reserves.”.

Article 3. Amending and supplementing a number of points and clauses of Article 9 of the Circular No. 30/2019/TT-NHNN

To replace the phrase “branches of State Bank in provinces and centrally-run cities” with the phrase “branches of State Bank in regions” (Regional State Bank Branches) at Point a Clause 2 Article 9.

Article 4. Amending and supplementing a number of clauses of Article 12 of the Circular No. 30/2019/TT-NHNN

1. To replace the phrase “branches of State Bank in provinces and centrally-run cities” with the phrase “Regional State Bank Branches” in the title of Article 12.

2. To replace the phrase “branches of State Bank in provinces and centrally-run cities (hereinafter referred to as State Bank branches)” with the phrase “Regional State Bank Branches” in Clause 1 Article 12.

3. To replace the phrase “State Bank branches” with the phrase “Regional State Bank Branches” in Clauses 2 and 3 Article 12.

4. To amend and supplement Clause 4 Article 12 as follows:

“4. Based on the content on reduction of the required reserve ratio (if any) for a support-providing credit institution in the recovery plan approved by the director of Regional State Bank Branch in accordance with regulations, the Regional State Bank Branch shall send to the Central Banking Department and the Monetary Policy Department a document on reduction of the required reserve ratio for such support-providing credit institution, which must state the name of the support-providing credit institution, the month when the reduction starts to be applied, and period of reduction.”.

5. To amend and supplement Clause 5 Article 12 as follows:

“5. To handle the credit institutions with a deficient amount of required reserves or propose the handling of such credit institutions according to the competence, report on it to the State Bank Governor, and concurrently send decisions on handling of credit institutions with a deficient amount of required reserves to the Monetary Policy Department, the Credit Institution Supervision Department, the Inspectorate of the State Bank, and the Central Banking Department.”.

 Article 5. Amending and supplementing a number of points and clauses of Article 13 of the Circular No. 30/2019/TT-NHNN

1. To amend and supplement Point d Clause 1 Article 13 as follows:

“d) Within the first 10 working days of a month, to summarize information about the compliance with required reserves of credit institutions during the previous month’s period of maintenance of required reserves, send a report to the State Bank Governor and concurrently to the Credit Institution Supervision Department and the Monetary Policy Department, using the Form DTBB003 issued together with this Circular, and send the Regional State Bank Branch a list of credit institutions with a deficient amount of required reserves (stating the money amount to be set aside as required reserves, actual reserves amount, and deficient amount of required reserves of each credit institution) whose head offices (or offices, for foreign bank branches) are based in localities.”.

2. To amend and supplement Clause 4 Article 13 as follows:

“4. Based on the document issued by Regional State Bank Branches or the Credit Institution Supervision Department defined in Clause 4 Article 12, Clause 1 Article 16 of this Circular, the Central Banking Department shall:

a) Determine and notify the amount to be set aside as required reserves and perform other jobs specified in Clause 1 of this Article for the support-providing credit institutions, the credit institutions being the transferee;

b) Within the first 10 working days of the period of maintenance of required reserves when the reduction of the required reserve ratio starts to be applied, issue a written notification of the application of reduction of the required reserve ratio (clearly stating the compulsory reserve maintenance period when the reduction starts to be applied and the period of reduction) to the organizations and units, including: credit institutions entitled to the reduction of the required reserve ratio; the Credit Institution Supervision Department; the Monetary Policy Department; Regional State Bank Branches which sent the Central Banking Department the document defined in Clause 4 Article 12 of this Circular; Regional State Bank Branches where headquarters of the credit institutions entitled to the reduction of the required reserve ratio are located.”.

Article 6. Amending and supplementing a number of clauses of Article 14 of the Circular No. 30/2019/TT-NHNN

To replace the phrase “State Bank branches” with the phrase “Regional State Bank Branches” in Clause 1 Article 14.

Article 7. Amending and supplementing Article 16 of the Circular No. 30/2019/TT-NHNN

To amend and supplement Article 16 as follows:

“Article 16. Responsibilities of the Credit Institution Supervision Department

1. Based on the content on reduction of the required reserve ratio for a support-providing credit institution, credit institution being the transferee (if any) in the approved recovery plan (except for the recovery plan approved by a director of Regional State Bank Branch in accordance with regulations), the approved plan on mandatory transfer, the Credit Institution Supervision Department shall send the Central Banking Department and the Monetary Policy Department a document on reduction of the required reserve ratio for the support-providing credit institution, credit institution being the transferee, which must clearly state the names of the support-providing credit institution, credit institution being the transferee, the month when the reduction starts to be applied, and period of reduction.

2. To send to the Central Banking Department the State Bank’s documents or decisions on special control, termination of special control, dissolution, or revocation of licenses of credit institutions within 3 working days after the State Bank issues these documents or decisions, except those issued by Regional State Bank Branches.

 3. To carry out supervision, and handle according to its competence violations committed by credit institutions in the course of complying with this Circular or recommend and propose the competent agencies, organizations, and individuals to implement handling measures for such violations in accordance with law regulations.”.

Article 8. Adding Article 16a after Article 16 of the Circular No. 30/2019/TT-NHNN

To add Article 16a after Article 16 as follows:

“Article 16a. Responsibilities of the Inspectorate of the State bank

To inspect, handle violations, and propose the competent authority to handle violations of credit institutions in maintenance of required reserves and in compliance with other regulations in this Circular.”.

Article 9. Amending and supplementing the Appendix of Guidance on method of calculation of required reserves, actual reserves, determination of excessive or deficient amount of required reserves

To replace the phrase “State Bank branches” with the phrase “Regional State Bank Branches” in the Appendix of Guidance on method of calculation of required reserves, actual reserves, determination of excessive or deficient amount of required reserves.

Article 10. Amending and supplementing the form DTBB003 on Report on the compliance with required reserves by credit institutions

To replace the phrase “the Banking Supervision Agency” with the phrase “the Credit Institution Supervision Department” in the form DTBB003 on Report on the compliance with required reserves by credit institutions.

Article 11. Responsibility for implementation organization

Heads of units of the State Bank of Vietnam, credit institutions and foreign bank branches shall be responsible for organizing the implementation of this Circular.

Article 12. Implementation provisions

This Circular takes effect on October 01, 2025./.