Law on Deposit Insurance 2025

LAW

ON DEPOSIT INSURANCE

Pursuant to the Constitution of the Socialist Republic of Vietnam, as amended and supplemented by the Resolution No. 203/2025/QH15;

The National Assembly promulgates the Law on Deposit Insurance.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Law provides for deposit insurance activities; rights and obligations of insured depositors, organizations participating in deposit insurance, deposit insurers, and state management of deposit insurance.

Article 2. Subject of application

This Law applies to insured depositors, organizations participating in deposit insurance, deposit insurers, and other agencies, organizations and individuals involved in deposit insurance activities.

Article 3. Purposes of deposit insurance

Deposit insurance aims to protect the lawful rights and interests of depositors, contributing to maintaining the stability of the credit institution system and ensuring safe and sound development of banking operations.

Article 4. Interpretation of terms

In this Law, the terms below are construed as follows:

1. Deposit insurance means the guarantee for repayment of deposits to insured depositors within the insurance payment limit when the obligation to pay insurance money arises as prescribed by this Law.

2. Insured depositor means an individual having his/her deposits insured at an organization participating in deposit insurance.

3. Organization participating in deposit insurance means a credit institution or foreign bank branch established and operating in accordance with the Law on Credit Institutions and licensed to receive deposits from individuals.

4. Deposit insurer means a state financial institution operating not for profit and implementing the deposit insurance policy; contributing to maintaining the stability of the credit institution system and ensuring safe and sound development of banking operations.

5. Deposit insurance premium means an amount to be paid by an organization participating in deposit insurance to a deposit insurer to insure deposits of insured depositors at such organization.

6. Insurance payment limit means the maximum sum to be paid by a deposit insurer for all insured deposits of a person at an organization participating in deposit insurance when the obligation to pay insurance money arises.

Article 5. Deposit insurance principles

1. Deposit insurance is compulsory under this Law.

2. Deposit insurance activities must be public and transparent and ensure the lawful rights and interests of insured depositors, organizations participating in deposit insurance and deposit insurers.

Article 6. Participation in deposit insurance

Credit institutions and foreign bank branches licensed to receive deposits from individuals are obliged to participate in deposit insurance; policy banks are not required to participate in deposit insurance.

Article 7. State policies on deposit insurance

1. The State shall adopt policies to protect the lawful rights and interests of depositors.

2. The State shall adopt management and use policies to preserve capital upon performance of investment activities and increase operating capital sources of deposit insurers.

Article 8. Responsibility of state management of deposit insurance

1. The Government shall perform the unified state management of deposit insurance.

2. The State Bank of Vietnam is responsible before the Government for performing the state management of deposit insurance.

3. Ministries and ministerial-level agencies shall, within the ambit of their tasks and powers, coordinate with the State Bank of Vietnam in performing the state management of deposit insurance.

4. People’s Committees at all levels shall, within the ambit of their tasks and powers, coordinate with state management agencies in, performing the state management of deposit insurance in localities.

Article 9. The State Bank of Vietnam’s responsibility to perform state management of deposit insurance

1. To submit to the Prime Minister for approval a strategy on deposit insurance development.

2. To examine, inspect and handle violations and settle complaints and denunciations related to deposit insurance in accordance with this Law and other relevant law regulations, except for the contents prescribed in Article 10 of this Law.

3. To conclude international agreements or submit to competent agencies the conclusion of treaties on deposit insurance.

Article 10. The Ministry of Finance’s responsibility to perform state management of deposit insurance

The Ministry of Finance shall be responsible for examining the implementation of regulations on the financial and accounting regimes of deposit insurers.

Article 11. Prohibited acts

1. Organizations participating in deposit insurance failing to pay deposit insurance premiums.

2. Deposit insurers failing to pay or fully pay insurance money.

3. Committing frauds in or forging dossiers, documents, data and papers on deposit insurance.

4. Obstructing, troubling, or damaging the lawful rights and interests of, deposit insurers, organizations participating in deposit insurance, insured depositors and agencies and organizations involved in deposit insurance.

5. Abusing positions and powers to violate laws and regulations on deposit insurance.

Chapter II

RIGHTS AND OBLIGATIONS OF INSURED DEPOSITORS, ORGANIZATIONS PARTICIPATING IN DEPOSIT INSURANCE AND DEPOSIT INSURERS

Article 12. Rights and obligations of insured depositors

1. To have their deposits at organizations participating in deposit insurance insured in accordance with this Law.

2. To fully and timely receive insurance money in accordance with this Law.

3. To request organizations participating in deposit insurance and deposit insurers to provide adequate and accurate information and regulations on deposit insurance.

4. To complain, denounce, and initiate lawsuits against agencies, organizations and individuals involved in deposit insurance.

5. To provide adequate and truthful information on deposits at the request of organizations participating in deposit insurance and deposit insurers when carrying out insurance payment procedures.

Article 13. Rights and obligations of organizations participating in deposit insurance

1. To be granted deposit insurance participation certificates.

2. To publicize the participation in deposit insurance.

3. To fully and timely calculate and pay deposit insurance premiums.

4. To request deposit insurers to pay insurance money to insured depositors when the obligation to pay insurance money arises.

5. To complain, denounce, and initiate lawsuits against agencies, organizations and individuals involved in deposit insurance.

6. To provide information on insured deposits and other information related to the payment of insurance money on a periodic basis or upon request of the deposit insurers; and to provide relevant information serving the performance of examination by the deposit insurers as prescribed in Clause 10, Article 14 of this Law to the deposit insurers.

7. To coordinate with the deposit insurers in disseminating policies and laws on deposit insurance.

8. Other rights and obligations as prescribed by this Law and other relevant law regulations.

Article 14. Rights and obligations of deposit insurers

1. To formulate a deposit insurance development strategy for the State Bank of Vietnam to submit to the Prime Minister for approval, and organize the implementation of this strategy.

2. To propose competent state management agencies to issue or amend, supplement, replace, annul, or suspend the implementation of, legal documents on deposit insurance.

3. To submit to the examination, inspection and supervision by the State Bank of Vietnam and competent state agencies in accordance with this Law and other relevant law regulations.

4. To grant, re-grant, revoke, and temporarily revoke deposit insurance participation certificates.

5. To request organizations participating in deposit insurance to provide information on insured deposits, other information related to the payment of insurance money, and relevant information serving the performance of examination by the deposit insurers as prescribed in Clause 10 of this Article in accordance with regulations of the Governor of the State Bank of Vietnam.

6. To calculate and collect deposit insurance premiums from organizations participating in deposit insurance in accordance with this Law.

7. To manage, use, and preserve capital when performing investment activities, except for certain objective and force majeure reasons affecting capital and income in accordance with regulations on the financial regime of the deposit insurers. The preservation of capital shall be assessed on the basis of the overall efficiency of the deposit insurers.

8. To pay insurance money to insured depositors in accordance with this Law and other relevant laws.

9. To monitor and examine the observance of law regulations on deposit insurance by organizations participating in deposit insurance; to propose the State Bank of Vietnam to handle violations of law regulations on deposit insurance.

10. To perform examination of organizations participating in deposit insurance according to plans and contents assigned by the State Bank of Vietnam.

11. To synthesize, analyze, and process information on organizations participating in deposit insurance to detect and propose that to the State Bank of Vietnam to promptly address violations of regulations on safety of banking operations and risks to the safety of the system of credit institutions.

12. To keep confidential deposit data and documents related to deposit insurance of organizations participating in deposit insurance in accordance with law.

13. To receive supports on the principle of repayment from the state budget under the Prime Minister’s decisions or taking loans from credit institutions or other institutions with government guarantee in case their capital sources are temporarily insufficient for paying insurance money; to receive financial assistance from domestic and foreign organizations and individuals for improving their operation capacity; and to obtain special loans from the State Bank of Vietnam in accordance with this Law, the Law on Credit Institutions, and other relevant law provisions.

14. To participate in the process of early intervention, special control, and resolution of credit institutions:

a) To participate in assessing the feasibility of recovery plans, plans for merger, consolidation, transfer of the entire contributed capital, and to participate in formulating bankruptcy plans for credit institutions under special control in accordance with the law on credit institutions;

b) To provide special loans to organizations participating in deposit insurance in accordance with this Law and other relevant law regulations;

c) To purchase long-term bonds of credit institutions subject to mandatory transfer according to the decision of the State Bank of Vietnam;

d) To appoint persons who satisfy the prescribed criteria and conditions to hold the titles of Chairperson and other members of the Board of Directors; Head and other members of the Supervisory Board; Director, Deputy Director (s), and other management and executive titles of people's credit funds under special control at the request of the State Bank of Vietnam;

dd) Other contents as prescribed by this Law and other relevant law regulations.

15. To participate in the management and liquidation of assets of organizations participating in deposit insurance in accordance with the law on credit institutions and other relevant law regulations.

16. To perform the dissemination of policies, laws, and activities on deposit insurance; to provide training and dissemination of knowledge on deposit insurance and relevant contents for related organizations and individuals; to research and apply science, technology, and management models suitable for to meet their development requirements.

Chapter III

DEPOSIT INSURANCE ACTIVITIES

Section 1

DEPOSIT INSURANCE PARTICIPATION CERTIFICATES

Article 15. Grant, re-grant, revocation, and temporary revocation of deposit insurance participation certificates

1. A deposit insurer shall grant a deposit insurance participation certificate to an organization participating in deposit insurance after the State Bank of Vietnam grants an establishment and operation license, for a credit institution, or an establishment license, for a foreign bank branch.

2. The deposit insurer shall revoke the deposit insurance participation certificate after the State Bank of Vietnam issues a document on revocation of the establishment and operation license of the credit institution or the establishment license of the foreign bank branch; or shall temporarily revoke the deposit insurance participation certificate when a competent authority issues a document on temporary suspension of the deposit receipt activities of the credit institution or the foreign bank branch in accordance with the law regulations.

3. Immediately after granting or revoking the establishment and operation license of a credit institution or the establishment license of a foreign bank branch, or issuing a document on temporary suspension of the deposit receipt activities of a credit institution or a foreign bank branch, the State Bank of Vietnam shall be responsible for notifying the deposit insurer so that the deposit insurer may perform the grant, revocation, or temporary revocation of the deposit insurance participation certificate.

4. The deposit insurer shall re-grant the deposit insurance participation certificate at the request of the organization participating in deposit insurance or when the deposit insurer deems it necessary.

5. The deposit insurer shall issue documents guiding the grant, re-grant, revocation, and temporary revocation of deposit insurance participation certificates.

Article 16. Disclosure of participation in deposit insurance

The disclosure of deposit receipt activities at all transaction points, on the website of the organizations participating in deposit insurance (if any), on the website of the deposit insurers, and through other forms of public disclosure by the organizations participating in deposit insurance shall be implemented in accordance with the guidance of the deposit insurers.

Section 2

INSURED DEPOSITS

Article 17. Insured deposits

Insured deposits are Vietnam-dong deposits of individuals at an organization participating in deposit insurance in the form of time deposit, demand deposit, savings deposit, deposit certificate and other forms of deposit under the law regulations on credit institutions, except the deposits defined in Article 18 of this Law.

Article 18. Non-insured deposits

1. Deposits at a credit institution by an individual owning over 5% of the charter capital of that credit institution; deposits of an individual, their related persons where such individual, related persons own more than 5% of the charter capital of that credit institution. Related persons shall be determined in accordance with the law regulations on credit institutions.

2. Deposits at a credit institution by an individual who is a manager, an executive officer, or a member of the Supervisory Board of such credit institution; deposits at a foreign bank branch by an individual who is the Chief Executive Officer or Chief Operations Officer of such foreign bank branch.
 

3. Compulsory savings at a microfinance institution as specified by law regulations.

4. Money paid for bearer valuable papers issued by an organization participating in deposit insurance.

Section 3

DEPOSIT INSURANCE PREMIUMS

Article 19. Deposit insurance premiums

1. The Governor of the State Bank of Vietnam shall prescribe the deposit insurance premiums and the application of flat-rate or differential deposit insurance premiums suitable to the characteristics of the system of credit institutions in Vietnam in each period.

2. Credit institutions under special control shall be exempted from paying deposit insurance premiums.

3. In case the deposit insurer takes a special loan from the State Bank of Vietnam as prescribed in Article 38 of this Law, the deposit insurer may formulate a plan to increase deposit insurance premiums to offset the special loan from the State Bank of Vietnam, which must include at least contents on the duration of the premium increase and the increased premium rate, and submit it to the State Bank of Vietnam for consideration and decision.

4. A credit institution, when placed under special control, shall be granted a temporary suspension of the payment of any deficient or late-paid deposit insurance premiums and late payment interest (if any) arising before the time the credit institution was placed under special control.  The credit institution under special control shall be responsible for formulating a plan to fully repay the amounts subject to temporary suspension of payment within the restructuring plan submitted to the competent authority for approval.

5. Deposit insurance premiums shall be calculated based on the average outstanding deposits insured at organizations participating in deposit insurance.

6. Deposit insurance premiums shall be quarterly calculated and paid in a fiscal year. Organizations participating in deposit insurance shall pay deposit insurance premiums to deposit insurers no later than the 20^th of the first month of the subsequent quarter.

7. Deposit insurance premiums shall be accounted as operating expenses of organizations participating in deposit insurance.

8. The Governor of the State Bank of Vietnam shall provide guidance on the calculation and payment of deposit insurance premiums.

Article 20. Measures for handling of deficient or late payment of deposit insurance premiums

1. An organization participating in deposit insurance that violates the time limit for payment of deposit insurance premiums as prescribed in Article 19 of this Law, shall, in addition to payment of the entire amount of the deficient premium, be subject to a late payment interest rate of 0.05% per day on the unpaid amount, except for cases of late payment due to force majeure events as prescribed by the law regulations or cases of temporary suspension of payment of deficient or late-paid deposit insurance premiums as prescribed in Clause 4 Article 19 of this Law.

2. If detecting any inaccuracy in deposit insurance premium calculation and payment, a deposit insurer shall, within 15 days, notify such inaccuracy and retrospectively collect the deficient premium or refund the surplus premium.

3. Thirty days after the deadline for deposit insurance premium payment, if an organization participating in deposit insurance fails to pay or fully pay deposit insurance premiums and fine, the deposit insurer may request in writing the State Bank of Vietnam for handling as defined by law regulations.

Section 4

PAYMENT OF INSURANCE MONEY

Article 21. Time when the obligation to pay insurance money arises

The obligation to pay insurance money arises from one of the times as follows:

1. The bankruptcy plan of a credit institution is approved, or the State Bank of Vietnam issues a document determining that a foreign bank branch is unable to repay deposits to depositors;

2. The State Bank of Vietnam issues a document on suspension of the deposit receipt activities of a credit institution under special control, and such credit institution has accumulated losses exceeding 100% of the value of its charter capital and reserve funds according to the latest audited financial statements;

3. The State Bank of Vietnam shall send a notification to the deposit insurer regarding the payment of insurance money in accordance with Clause 2, Article 36 of this Law.

Article 22. Insurance money limit

1. The Governor of the State Bank of Vietnam shall stipulate the insurance money limit for each period.

2. Upon the occurrence of the obligation to pay insurance money as prescribed in Clause 2 or Clause 3, Article 21 of this Law, in special cases, to ensure the rights of depositors, the safety of the credit institution system, and social order and safety, the Governor of the State Bank of Vietnam shall decide on a payment limit exceeding the limit prescribed in Clause 1 of this Article, up to the total insured deposits of the depositors at the organization participating in deposit insurance at the time the insurance payment obligation arises.

3. The insurance money limit in the event of implementing a bankruptcy plan for a credit institution under special control shall be implemented in accordance with the Law on Credit Institutions.

Article 23. Insurance amount to be paid

1. The insurance amount to be paid for all insured deposits of a person at an organization participating in deposit insurance, inclusive of both principal and interest, must not exceed the insurance money limit specified in Article 22 of this Law.

In case an insured depositor has a debt at the organization participating in deposit insurance, the insured deposit must be subtracted with such debt.

2. The insurance amount to be paid in case many persons co-own insured deposits is specified as follows:

a) The insurance amount to be paid for all insured deposits of co-owners at an organization participating in deposit insurance is inclusive of both principal and interest;

b) The maximum insurance amount to be paid for a co-owner, including such co-owner’s insurance amount to be paid for other insured deposits at the same organization participating in deposit insurance must not exceed the insurance money limit;

c) The insurance amount to be paid shall be divided as agreed by co-owners; if co-owners have no agreement or fail to reach agreement, such insurance amount shall be handled in accordance with law regulations.

Article 24. Procedures for insurance money payment

1. Within 05 working days after the obligation to pay insurance money arises, the organization participating in deposit insurance shall send a dossier of request for insurance money payment to the deposit insurer.

A dossier of request for insurance money payment comprises a written request for insurance money payment, a list of insured depositors, deposit of each insured depositor, and insurance amount requested to be paid by the deposit insurer.

2. Within 05 working days after receiving a complete dossier specified in Clause 1 of this Article, the deposit insurer shall examine papers and books for determining the to-be-paid amount.

3. Within 10 working days after finishing the examination under Clause 2 of this Article, the deposit insurer shall have a plan for payment of insurance money to insured depositors; publicly notify the place, time and mode of insurance money payment in three consecutive issues of a central newspaper, a newspaper of the locality in which it is headquartered and a Vietnamese online newspaper, and on the website of the deposit insurer, and through other forms as decided by the deposit insurer.

4. Within at most 45 days after the time when the obligation to pay insurance money arises, deposit insurers shall pay insurance money to insured depositors.

5. To receive insurance money, insured depositors shall produce documents or data evidencing their lawful ownership of insured deposits at organizations participating in deposit insurance.

6. Deposit insurers shall directly pay insurance money to insured depositors or authorize other organizations participating in deposit insurance to do so.

7. Ten years after the deposit insurer issues the notice on insurance money payment, insurance amounts without recipients will be added to operating capital sources of the deposit insurer; owners of insured amounts may not request the deposit insurer to pay such amounts.

Article 25. Handling of deposits in excess of the insurance money limit

Insured depositors’ deposits, both principal and interest, which exceed the insurance money limit shall be handled in the course of handling assets of organizations participating in deposit insurance in accordance with law regulations.

Article 26. Collection of payable insurance amounts from organizations participating in deposit insurance

1. The deposit insurer becomes a creditor of the organization participating in deposit insurance with regard to the insurance amount paid to the insured depositor from the date of insurance money payment.

2. The deposit insurer is eligible for a divided value of assets like depositors and may collect the payable insurance amount in the course of handling assets of the organization participating in deposit insurance in accordance with law regulations.

Chapter IV

DEPOSIT INSURERS

Article 27. Deposit insurers

1. Deposit insurers are state financial institutions established by the Prime Minister and having their functions and tasks defined by the Prime Minister.

2. Deposit insurers are legal person entities operating not for profit, ensuring their financial autonomy and self-financing.

3. The management organizational structure of deposit insurers includes the Board of Directors, the Supervisory Board, and the General Director.

4. The deposit insurers have a head office, branches, representative offices, and other affiliated units (if any).

5. The Government shall prescribe the organization, operation, and the regime for salaries, remuneration, and bonuses of the deposit insurers in accordance with the nature of their activities.

Article 28. Operating capital sources

Operating capital sources include:

1. A deposit insurer’s charter capital allocated from the State and supplemented in accordance with the Government's regulations;

2. Special loans from the State Bank of Vietnam; capital received as support on the principle of refund from the state budget as decided by the Prime Minister or loans from credit institutions and other organizations with a Government guarantee in the event that the capital sources of the deposit insurer are temporarily insufficient to pay insurance money;

3. The professional reserve fund:

a) The professional reserve fund is formed from collected deposit insurance premiums; insurance amounts without recipients; the remaining annual financial difference between revenues and expenditures after making deductions to funds as prescribed; and amounts received by the deposit insurer (if any) from the liquidation of assets of organizations participating in deposit insurance in accordance with the law regulations;

b) The professional reserve fund is used to pay insurance money to depositors in accordance with the law regulations on deposit insurance; to participate in the process of early intervention and special control of organizations participating in deposit insurance, and other activities as prescribed by this Law;

c) The deposit insurer may record a decrease in the professional reserve fund for the amounts already paid as deposits to depositors;

4. The development investment fund:

The development investment fund shall be set aside from the annual difference between revenues and expenditures of the deposit insurer, and shall be used to implement development investment projects of the deposit insurer and to supplement the charter capital of the deposit insurer;

5. The financial provisions fund:

The financial provisions fund shall be used for offsetting the remaining asset loss or damage occurring in the course of operation after being covered by the compensations paid by organizations and individuals causing such loss or damage, the indemnities of insurers and the risk provisions; and used for other purposes prescribed by this Law and other relevant law regulations;

6. Other lawful capital sources in accordance with law regulations.

Article 29. Investment activities

1. The deposit insurer may use its operating capital, excluding the capital sources prescribed in Clause 2, Article 28 of this Law, in order to:

a) To purchase and sell government bonds; to purchase and sell State Bank bills with credit institutions and foreign bank branches;

b) To deposit money at the State Bank of Vietnam;

c) To purchase and sell bonds and deposit certificates issued by commercial banks where the State holds more than 50% of the charter capital, or joint-stock commercial banks where state-owned enterprises hold more than 50% of the charter capital; to deposit money at commercial banks where the State holds more than 50% of the charter capital, or joint-stock commercial banks where state-owned enterprises hold more than 50% of the charter capital. Investment shall not be made in commercial banks currently under special control;

d) Perform other investment activities in accordance with the regulations of the Government.

2. The capital sources prescribed in Clause 2, Article 28 of this Law that are not temporarily used must be deposited at the State Bank of Vietnam.

3. The Governor of the State Bank of Vietnam shall prescribe the investment methods of the deposit insurer and the procedures for risk control and management of the investment activities of the deposit insurer.

4. The deposit insurer shall decide on the criteria for the investment portfolio, investment structure, and each investment item as prescribed in Clause 1 of this Article. The deposit insurer must control and manage the risks of its investments.

Article 30. Financial, accounting and audit regulations

1. Revenues of the deposit insurer shall be recognized in accordance with Vietnamese accounting standards and relevant law regulations and shall be fully recorded into turnover, including revenue from professional activities of deposit insurance; turnover from investment activities, and revenue from other activities.

2. Expenditures of the deposit insurer shall be recognized based on the principle of matching revenue and expenses according to Vietnamese accounting standards and relevant law regulations. Expenses of the deposit insurer are actual expenses incurred related to the deposit insurer’s activities, including expenditures for professional activities of deposit insurance; expenditures for investment activities; expenditures for managers, executive officers, and employees; expenditures for management activities; expenditures for risk provisions; and other expenses.

3. The difference between annual revenues and expenditures of the deposit insurer is the performance result of the deposit insurer, determined as the total income minus the total reasonable and valid expenses incurred during the year.

4. The difference between revenues and expenditures of the deposit insurer shall be distributed as follows:

a) To offset the deficit where revenues were less than expenditures in previous years;

b) To make deductions for funds, including the development investment fund; the financial provisions fund; and the reward and welfare fund.  The Minister of Finance shall prescribe the deduction rates from the difference between revenues and expenditures of the deposit insurer for the funds mentioned at this Point in accordance with the nature of the deposit insurer's activities;

c) The remaining balance shall be set aside for the professional reserve fund.

5. In case the deposit insurer uses the professional reserve fund to pay insurance money to depositors in accordance with the law regulations or to perform activities prescribed at Points b and c Clause 14 Article 14 of this Law, resulting in insufficient revenue to cover the activities of the deposit insurer and causing a negative difference between revenues and expenditures, the deposit insurer may use the financial provisions fund, and the premium collection (after the financial provisions fund has been exhausted), to offset operating expenses and to pay salaries and welfare for its employees, ensuring that salaries are not lower than those of the immediately preceding year.

6. The financial and accounting regimes of the deposit insurer shall be based on the financial mechanism applicable to single-member limited liability companies with 100% state-owned charter capital, suitable to the nature of the deposit insurer's activities, and shall be prescribed by the Minister of Finance.

7. The annual financial statements of the deposit insurer must be audited and certified by the State Audit Office of Vietnam.

Article 31. Management and investment of state capital at deposit insurers

1. Management and investment of the state capital at a deposit insurer

a) To comply with this Law and other relevant law regulations, and to be consistent with the non-profit nature of the deposit insurer's activities;

b) The agencies representing the owner and state management agencies shall not directly interfere in the routine operations, investment activities, or the management and executive activities of the direct representatives of the owner and other titles as prescribed by the regulations on the organization and operation of the deposit insurer;

c) The management of state capital invested at the deposit insurer must be conducted through the direct representatives of the owner.

2. Representatives of the state owner:

a) The Government shall uniformly exercise the rights and responsibilities of the state owner's representative in investing and managing state capital at the deposit insurers;

b) The Prime Minister, the State Bank of Vietnam, and the direct representatives of the owner at the deposit insurers shall exercise the rights and responsibilities of the representatives of the state owner toward the deposit insurers in accordance with this Law and the regulations of the Government.

3. The Government shall prescribe the management and investment of capital, as well as the supervision and evaluation of the efficiency of state capital investment at the deposit insurers.

CHAPTER V

INFORMATION AND REPORTING ACTIVITIES

Article 32. Deposit insurers’ responsibility to report and publicize information

1. Deposit insurers shall report on the following information to the State Bank of Vietnam:

a) Information on the observance of law regulations on deposit insurance by organizations participating in deposit insurance biannually or extraordinarily at the request of the State Bank of Vietnam;

b) Information on payment of insurance money to insured depositors biannually or extraordinarily at the request of the State Bank of Vietnam;

c) Performance of the tasks defined in Clause 11 Article 14 of this Law quarterly or extraordinarily at the request of the State Bank of Vietnam;

d) Audited annual financial statements and annual operation reports;

e) Other information on deposit insurance activities at the request of the State Bank of Vietnam.

2. Deposit insurers shall publicize information on revocation and temporary revocation of deposit insurance participation certificates and plans on payment of insurance money to insured depositors under Clause 2, Article 15 and Clause 3, Article 24 of this Law.

Article 33. Provision of information of the State Bank of Vietnam

1. Deposit insurers may access the State Bank of Vietnam’s database on organizations participating in deposit insurance for performance of their functions and tasks in accordance with the regulations of the Governor of the State Bank of Vietnam.

2. The State Bank of Vietnam shall allow deposit insurers to access the database on organizations participating in deposit insurance.

3. The Governor of the State Bank of Vietnam shall prescribe the provision of information regarding clients’ deposits at organizations participating in deposit insurance to the deposit insurers.

Chapter VI

INSPECTION OF DEPOSIT INSURANCE

Article 34. Inspection of deposit insurance

1. The State Bank of Vietnam shall inspect deposit insurance.

2. Subject of deposit insurance inspection are deposit insurers and organizations participating in deposit insurance.

3. The rights and obligations of those subject to deposit insurance inspection shall comply with the Law on the State Bank of Vietnam and the inspection law regulations.

4. The order of and procedures for deposit insurance inspection of organizations participating in deposit insurance shall comply with the Law on the State Bank of Vietnam and the inspection law.

5. The order of and procedures for deposit insurance inspection of deposit insurers comply with the inspection law regulations.

Chapter VII

PARTICIPATION IN THE HANDLING OF CREDIT INSTITUTIONS UNDER EARLY INTERVENTION OR SPECIAL CONTROL; PARTICIPATION IN THE HANDLING OF INCIDENTS AND CRISES IN CREDIT INSTITUTIONS’ OPERATIONS

Article 35. Special loans

1. A deposit insurer shall grant special loans from the professional reserve fund in the following cases:

a) To grant special loans to commercial banks, cooperative banks, and microfinance institutions under special control to implement recovery plans;

b) To grant special loans to commercial banks under special control to implement plans on mandatory transfer;

c) To grant special loans to commercial banks, cooperative banks, people's credit funds, and microfinance institutions that are under early intervention and undergoing mass withdrawal, or under special control and undergoing mass withdrawal, to repay deposits to depositors.

2. The Governor of the State Bank of Vietnam shall prescribe the grant of special loans by the deposit insurers to credit institutions.

3. The deposit insurers shall decide on the grant of special loans with or without interest rates, and with or without collateral; and shall formulate internal regulations on grant of special loans to credit institutions.

Article 36. Insurance money payment to ensure the safety of the system, social order, and safety

1. In order to ensure the safety of the system and ensure social order and safety as defined in Clause 4 Article 162 of the Law on Credit Institutions, the State Bank of Vietnam shall report to the Government to decide on requesting a deposit insurer to pay insurance money in case a credit institution under special control loses or is at risk of losing its solvency in accordance with the law regulations on credit institutions.

2. The time of occurrence of the insurance money payment obligation prescribed in Clause 1 of this Article is determined when the State Bank of Vietnam issues a document notifying the deposit insurer of the insurance money payment.

3. The plan for handling the debt of the deposit insurer must be approved in the recovery plan, merger plan, consolidation plan, plan for transfer of all shares or capital contributions, mandatory transfer plan, or bankruptcy plan.

4. In case the amount in the professional reserve fund is insufficient to pay insurance money, the deposit insurer shall be granted a special loan by the State Bank of Vietnam to pay insurance money as prescribed in Clause 1 of this Article.

Article 37. Principles for handling of special loans

1. Special loans from the deposit insurer shall be prioritized for repayment in accordance with Clause 1, Article 194 of the Law on Credit Institutions.

2. After a bankruptcy plan is approved, the amount that the deposit insurer has granted as a special loan shall be converted into a payment for deposits to depositors.

Article 38. Special loans from the State Bank of Vietnam

1. A deposit insurer may take special loans with a 0% interest rate and without collateral from the State Bank of Vietnam in the cases prescribed in Article 21 of this Law and when the amount in the professional reserve fund is insufficient to pay insurance money.

The professional reserve fund shall be deemed insufficient to pay insurance money when the deposit insurer has fully used the entire amount of the professional reserve fund but such amount remains insufficient to discharge its obligation to pay insurance money. The sale of valuable papers before maturity and the withdrawal of deposits before maturity must ensure the principle of capital preservation in investment activities.

2. The deposit insurer shall formulate a plan to increase deposit insurance premiums to offset the special loan; and to use repayments of special loans from credit institutions, proceeds from the sale of valuable papers held by the deposit insurer, proceeds from the liquidation of assets of credit institutions that took special loans, and deposit insurance premiums to prioritize the repayment of special loans to the State Bank of Vietnam.

3. The Governor of the State Bank of Vietnam shall provide guidance on the State Bank of Vietnam granting special loans to the deposit insurers.

Article 39. Participation in handling of incidents and crises in the operations of credit institutions

In case of incidents or crises that pose a risk of affecting the safety of the system of credit institutions, the deposit insurers shall participate in handling such incidents and crises in accordance with this Law.

The Government shall decide on other measures for the deposit insurers to participate in handling of incidents and crises.

Chapter VIII

IMPLEMENTATION PROVISIONS

Article 40. Effect

1. This Law takes effect on May 01, 2026.

2. Law on Deposit Insurance No. 06/2012/QH13 shall cease to be effective from the effective date of this Law.

Article 41. Transitional provision

1. Deposit insurance participation certificates granted before the effective date of this Law shall continue to remain valid.

2. Promissory notes and bills issued by organizations participating in deposit insurance with outstanding balances prior to July 1, 2024, shall be calculated as insured deposits until the organizations participating in deposit insurance have fully paid off such promissory notes and bills.

3. Credit institutions placed under special control before the effective date of this Law shall be granted a temporary suspension of payment for late payment interest incurred since the time they were placed under special control.  The credit institutions under special control shall be responsible for formulating a plan to fully repay the late payment interest subject to temporary suspension of payment within the restructuring plan submitted to the competent authority for approval.

_____________________

This Law was adopted on December 10, 2025, by the XIII^thNational Assembly of the Socialist Republic of Vietnam at its 10^th session.

THE CHAIRMAN OF THE NATIONAL ASSEMBLY
 

Tran Thanh Man