Circular 05/2025/TT-NHNN amend Circular 01/2014/TT-NHNN preservation and transportation of cash, precious assets and valuable papers

CIRCULAR

Amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 01/2014/TT-NHNN dated January 6, 2014, prescribing the delivery and receipt, preservation and transportation of cash, precious assets and valuable papers

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Pursuant to June 16, 2010 Law on the State Bank of Vietnam;

Pursuant to January 18, 2024 Law on Credit Institutions;

Pursuant to the Government’s Decree No. 40/2012/ND-CP dated May 02, 2012, on issue of money; preservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign banks’ branches;

Pursuant to the Government’s Decree No. 26/2025/ND-CP dated February 24, 2025 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of Director of Treasury and Issuance Department;

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 01/2014/TT-NHNN dated January 6, 2014, prescribing the delivery and receipt, preservation and transportation of cash, precious assets and valuable papers.

Article 1. Amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 01/2014/TT-NHNN dated January 6, 2014, prescribing the delivery and receipt, preservation and transportation of cash, precious assets and valuable papers.

1. Amending and supplementing Clause 5, Article 4 as follows:

“5. A box of coins shall include 10 (ten) bags of money with the same denomination.

For the Central Vault and the cash vaults of the State Bank’s branches in regions assigned by the Governor of the State Bank to organize the transportation of cash, precious assets, and valuable papers (below referred to as the “designated Regional State Bank branches for transportation”), a box of coins shall include:

a) 50 (fifty) bags of coins with the denomination of VND 5,000;

b) 75 (seventy-five) bags of coins with the denominations of VND 2,000; VND 1,000 and VND 500;

c) 100 (one hundred) bags of coins with the denomination of VND 200.”

2. Adding Points d, dd, e and g to Clause 2, Article 11 as follows:

“d) Delivery and receipt of cash in denominations of VND 20,000 or lower pursuant to transfer orders between the Central Vault and the Transaction Center, Regional State Bank branches, and vice versa; among Central Vaults; and among Regional State Bank branches;

dd) Delivery and receipt of cash in denominations of VND 50,000 pursuant to transfer orders among Central Vaults; between the Central Vault and designated Regional State Bank branches for transportation and vice versa;

e) Delivery and receipt of cash within the internal operations of the Central Vault;

g) Delivery and receipt of cash within the internal operations of the designated Regional State Bank branches for transportation in the course of executing transfer orders.”

3. Amending and supplementing Clause 1, Article 12 as follows:

“1. Counting and verification of cash delivered and received under transfer orders of the State Bank of Vietnam in respect of circulated currency:

a) The Transaction Center, Regional State Bank branches (except for designated Regional State Bank branches for transportation implementing in accordance with Point b of this Clause) organizing the reference count of sheets (pieces) of money received must set up the Reference count Councils as prescribed in Clause 3, Article 62 of this Circular. The reference count duration is 30 working days from the date of receiving money. The delivering unit shall assign its personnel to witness; in case of no witness, the delivering unit must send a written notice to the receiving unit.

Director of Treasury and Issuance Department shall consider and decide extending the time of cash reference count based on transfer orders in cases of having objective reasons at the proposal of the Transaction Center or the Regional State Bank branches;

b) The designated Regional State Bank branches for transportation shall organize the reference count of sheets (pieces) of money used for disbursement to credit institutions and branches of foreign banks within the locality. The Reference Count Councils shall be set up as prescribed in Clause 3, Article 62 of this Circular and supervise asset security;

c) For the amount of money not organized the reference count of sheets (pieces), the Transaction Center, Regional State Bank branches may deliver such bundles (bags) of money which its seals remain intact to credit institutions, branches of foreign banks within the same provinces or cities and have to assign persons to witness when the receiving unit organizes the reference count of sheets (pieces) or assign other credit institutions or branches of foreign banks within the locality to alternately witness the money reference count of the receiving unit, regardless of which credit institutions or branches of foreign banks the money belongs to.”

4. Amending and supplementing Clause 2 and Clause 3, Article 20 as follows:

“2. The Transaction Center, Regional State Bank branches may arrange a number of collection teams and payment teams. Each cashier shall be in charge of a collection (payment) group and responsible for the assigned assets.

3. The Transaction Center shall assign a treasurer who concurrently serves as the vault custodian to safeguard the Issuing Operation Fund. Regional State Bank branches shall assign a dedicated vault custodian to safeguard the Issuing Operation Fund.

The treasurer concurrently serving as the vault custodian as prescribed in this Clause shall be entitled to enjoy rights as for a vault custodian.”

5. Amending and supplementing Article 26 as follows:

a) Adding Point a1 to Clause 1, Article 26 as follows:

“a1) In cases where the Director of the Regional State Bank branch is unable to authorize the Deputy Director as prescribed at Point a of this Clause, written authorization shall be granted to the Head of the Division responsible for the management of cash, precious assets, valuable papers, and the vault.”

b) Amending and supplementing Clause 3, Article 26 as follows:

“3. Provisions on authorization by the Manager of Accounting Department:

a) The Manager of Accounting Department shall be entitled to authorize in writing his/her Deputy to perform his/her task in managing cash, precious assets, valuable papers and vaults in a certain period (The authorized letter must be accepted by the Director);

b) In cases where the Manager of the Accounting Department of the Regional State Bank branch is unable to authorize his/her Deputy as prescribed at Point a of this Clause, authorization shall be granted to an official of the Accounting Department to perform his/her task in managing cash, precious assets, valuable papers and vaults (The authorized letter must be accepted by the Director);

c) The authorized persons shall be responsible before the Manager and the Director on the management of cash, precious assets, valuable papers and vaults in compliance with this Circular and relevant law provisions.”

6. Amending and supplementing Clause 2, Article 31 as follows:

“2. The backup key of vault's doors of the Central Vault shall be sent to the vault of the nearest Regional State Bank branch. The Transaction Center, Regional State Bank branches shall send their backup keys to the Central Vaults within their localities (if any) or the vault of the State Treasury within their localities,  the vaults of state-owned commercial banks within their localities.”

7. Amending and supplementing Clause 1, Article 48 as follows:

“1. The Department of Issuance and Treasury shall organize the transport of cash, precious assets and valuable papers from the establishments which printed or casted money, airports, harbors, stations to the Central vault; among the Central vaults; from the Central Vault to the vaults of the Transaction Center and Regional State Bank branches and vice versa; between the vaults of Regional State Bank branches.

In necessary cases, the Transaction Center, Regional State Bank branches shall appoint a person to supercargo and deliver, receive cash, precious assets and valuable papers at the Central Vault or other Regional State Bank branches.

The designated Regional State Bank branches for transportation shall organize the transport of cash, precious assets and valuable papers between the designated Regional State Bank branches for transportation and the Central Vault; among Regional State Bank branches.”

8. Amending and supplementing Clause 1, Article 63 as follows:

“1. The Inventory Council for the preservative fund for issuance, precious assets, valuable papers at the Central vault periodically at 0 o'clock 01 January and 01 July shall be decided to set up by the Governor of the State Bank, including following members:

a) Chairperson of the Council: Chief Inspector of the State Bank of Vietnam;

b) Members: Director of the Financial - Accounting Department, Director of the Treasury and Issuance Department.”

9. Amending and supplementing Article 70 as follows:

“1. Director of the Treasury and Issuance Department shall guide and inspect the implementation of this Circular.

2. Chief Inspector of the State Bank of Vietnam shall guide the control of organizing the implementation within the system of the State Bank; inspect the organization of implementation of this Circular by credit institutions and branches of foreign banks.”

Article 2. Replacing and  repealing a number of phrases of the Governor of the State Bank of Vietnam’s Circular No. 01/2014/TT-NHNN dated January 6, 2014, prescribing the delivery and receipt, preservation and transportation of cash, precious assets and valuable papers (as amended and supplemented by Circular No. 12/2017/TT-NHNN dated August 31, 2017, and Circular No. 19/2021/TT-NHNN dated November 24, 2021)

1. Replacing the phrase “The State Bank’s branches in centrally-run cities or provinces (below collectively referred to as the State Bank’s branches)” with the phrase “Regional branches of the State Bank of Vietnam (below referred to as Regional State Bank branches)” in Clause 1, Article 10.

2. Replacing the phrase “the State Bank’s branches” with the phrase “Regional State Bank branches” in Clause 1 and Point c Clause 2 Article 11, Clause 1 and Point a, Point b Clause 2 Article 13, Article 14, Clause 1 Article 15, Clause 1 Article 17, Clause 2 Article 18, Clause 1 and Clause 2 Article 19, Clause 1 Article 20, title of Article 21, Clause 1 Article 24, Clause 1 Article 31, Clause 2 Article 37, Clause 4 Article 39, Clause 2 Article 45, Clause 4 Article 50, Article 53, Clause 3 Article 59, Clause 2 Article 65, Article 69.

3. Repealing the phrase “(below referred to as the Manager of Accounting Department)” in Clause 1, Article 18.

4. Replacing the phrase “localities of provinces or cities” with the phrase “regional localities” at Point c, Clause 1, Article 11 and Clause 4, Article 39.

5. Replacing the phrase “branches of the State Bank in provinces or centrally-run cities” with the phrase “Regional State Bank branches” in Article 73.

Article 3. Responsibilities for organization of implementation

Heads of units under the State Bank of Vietnam, credit institutions, and branches of foreign banks shall organize to implement this Circular.

Article 4. Implementation provisions

1. This Circular takes effect from May 19, 2025.

2. Repealing Clause 2, Clause 3, Clause 5, Article 1 of Circular No. 19/2021/TT-NHNN dated November 24, 2021 amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 01/2014/TT-NHNN dated January 6, 2014, prescribing the delivery and receipt, preservation and transportation of cash, precious assets and valuable papers./.