Circular 23/2023/TT-NHNN technical standards for money vaults and cash-in-transit vehicles of credit institutions

CIRCULAR

Stipulating the technical standards for money vaults and cash-in-transit vehicles of credit institutions and foreign bank branches

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

Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government’s Decree No. 40/2012/ND-CP dated May 2, 2012, on issue of money, and preservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign bank branches;

Pursuant to the Government’s Decree No. 102/2022/ND-CP dated December 12, 2022, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Issue and Vault Department;

The Governor of the State Bank of Vietnam promulgates the Circular stipulating the technical standards for money vaults and cash-in-transit vehicles of credit institutions and foreign bank branches.

Chapter I

GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular stipulates on:

1. Technical standards for money vaults at headquarters and branches of credit institutions and headquarters of foreign bank branches.

2. Technical standards for vehicles carrying cash money, precious assets, and valuable papers of credit institutions and foreign bank branches.

Article 2. Subjects of application

This Circular applies to credit institutions and foreign bank branches operating in Vietnam.

Article 3. Interpretation of terms

In this Circular, the terms bellow are construed as follows:

1. Money vault means a vault of a credit institution or foreign bank branch used to preserve cash money, precious assets and valuable papers.

2. Vault space is divided into various spaces for separate preservation of assets or asset preservation or safe deposit box services.

3. Intermediate space means a space between money vault entrance and the front desk where money, precious assets and valuable papers are examined prior to being stored or withdrawn from the money vault.

4. Money vault protection corridor means the area surrounding the money vault, physically separating the vault wall from adjacent areas.

5. Money vault safety equipment systems (hereinafter referred to as equipment systems), include: Electricity system, security alarms system; surveillance system; fire alarm and firefighting; ventilation and other equipment systems.

6. Cash-in-transit vehicles mean specialized cars used to transport money, precious assets, and valuable papers of credit institutions and foreign bank branches.

Chapter II

TECHNICAL STANDARDS FOR MONEY VAULTS

Article 4. General regulations on money vaults

1. Money vaults are built in the headquarters of credit institutions and foreign bank branches; have a usable area that meets the requirements for preservation of cash money, precious assets and valuable papers.

The General Directors (Directors) of credit institutions or foreign bank branches shall decide on the construction of money vault at a location outside the headquarters of the credit institutions or foreign bank branches but must ensure the vault technical requirements specified in this Circular.

2. The money vault location shall be reasonable and convenient so as to ensure secure and safe vault operation.

3. The money vault shall be fitted with equipment systems.

4. Credit institutions and foreign bank branches providing asset storage service, leasing deposit boxes or safes shall utilize vault spaces with separate doors in accordance with standards on money vault doors or separate vaults; or situate separate deposit boxes or safes in vaults and vault spaces to facilitate asset preservation service.

Article 5. Structure and technical standards of the money vault

1. The floors, walls, and ceilings of money vaults shall be made of reinforced concrete, connected to form a cube shape, and compliant with the following standards:

a) The floors of money vaults are even and flat. The layers of money vault floors, in descending order, include: surface layer that is non-slip and resistant to compression and collision; reinforced concrete; masonry concrete; coarse sand; natural soil and soil treated for termite and moist resistance;

In case the money vaults are built above the ground floor, the technical standards of vault floors shall be similar to those of vault ceilings and vault floors shall be fitted with non-slip, compression resistant, and collision-resistant surface;

b) The height of vault walls shall be appropriate to the height of the headquarters story where the vaults are built;

c) The vault ceilings shall be made of whole reinforced concrete blocks;

d) The money vault protection corridor (if any) shall have a separate door and a security alarm system installed;

dd) Venting aperture are appropriately arranged at the vault walls, vault space walls and intermediate spaces (if any);

e) Elevators shall serve vaults located above the ground floor or in the basements for transporting money, precious assets and valuable papers.

2. Money vaults at headquarters, branches of credit institutions and offices of foreign bank branches must ensure the minimum technical standards specified in Appendix I issued with this Circular.

Article 6. Money vault doors

1. The money vault door shall be located in secure locations and open to intermediate spaces (if any), consist of two layers of steel, the gap between two layers shall be appropriate for thickness of vault walls and satisfy the following standards:

a) The vault door frame shall be made of steel, U-shaped, with a width appropriate to vault wall thickness, reinforced by steel plates; installed in a way that the underside rests on the floor of money vaults and intermediate spaces (if any) and is casted concrete together with walls and floors of the money vaults;

b) The outer layer of door frame is of steel and rigid cube shape. The outer surface is made of steel plates, seamless, welded with twisted steel bars on the inside; followed by a layer of concrete reinforced by steel mesh or steel types that prevent drilling and breaching. Edge of door leaf is clipped with steel. A steel partition of minimum thickness of 3 mm is required between locking mechanism and concrete layer Important positions of locks shall be reinforced by a layer of corrugated steel or steel sheet of minimum thickness of 6 mm and capable of resisting drilling and thermal lance. A side of a door leaf shall be fitted with three-point hinges or fixed hinges and opposing side shall be fitted with 5 bolts or movable hinges. Two number locks requiring combinations of 3 of 4 digits with tracking keys with number cover shall be required. Password shall be changed conveniently and easily.

c) The inner door layer has the same dimensions as the outer layer; door frame shall be of steel, cube shape, consisting of two horizontal bars and vertical steel bars that are evenly 50 mm apart. The side on which hinges are installed shall contain two fixed bolts whereas the opposing side shall contain 3 movable latches operated by knobs. Door stoppers shall be required on sides with swinging doors. A recessed lock that can be unlocked from both sides shall be required;

d) The locks of money vault doors shall be of clear origin and accompanied by technical specifications and use manuals.

2. Vault space door: In case the vault space door is inside the money vault, it must follow the standard of the inner door layer of the money vault door.

3. Money vault doors at headquarters, branches of credit institutions and offices of foreign bank branches must ensure the minimum technical standards specified in Clause 1 of this Article and Appendix II issued with this Circular.

Article 7. Requirements for equipment systems installed at the money vaults

1. The money vaults must be equipped with the following equipment systems:

a) Power supply for stable operation of equipment systems, with backup power supply in case of grid power failure. Circuit breakers outside of vaults; switches and sockets inside money vaults serving operation of other equipment systems in money vaults;

The money vaults shall be fitted with lighting systems that emit little heat and are protected by casing or cover, grid lighting, and emergency lighting (if any);

b) Fans with sufficient capacity in venting apertures with appropriate locations to ensure proper ventilation and reduce contamination. Air expelled from money vaults shall not contaminate adjacent work areas;

c) Fire alarm and firefighting system in accordance with regulations of fire authorities and compliant with National Standards on fire prevention and firefighting;

d) Security system for alarming trespassers and detecting trespassers such as:

(i) Infrared detectors installed in money vaults; intermediate spaces and money vault protection corridors (if any) to control movement in these areas;

(ii) Magnetic switches installed on the inside of the doors: the outer layer of the vault door; vault space door, intermediate space door, money vault protection corridor door (if any) and some other necessary doors;

(iii) Emergency alarm buttons installed in money vaults; intermediate spaces (if any) and other necessary areas in case of emergencies;

dd) Surveillance cameras in necessary positions to observe vault doors; intermediate spaces, money vault protection corridors, transport staircases (if any); inside money vaults (if necessary) and other necessary areas. Surveillance system must record, play, and extract images serving management, monitoring, inspection and supervision.

2. Equipment systems are managed, used, monitored and checked for operation on a regular basis. Equipment control panels shall be located in secure location, able to maintain confidentiality of parameters, and convenient for management and use.

3. Equipment systems installed at money vaults of headquarters, branches of credit institutions and headquarters of foreign bank branches shall meet minimum requirements under Clause 1 of this Article.

Chapter III

CASH-IN-TRANSIT VEHICLES

Article 8. Cash-in-transit vehicles

1. Cash-in-transit vehicles shall be fitted with storage compartments to carry money, precious assets and valuable papers; fire-fighting equipment, navigation and monitoring equipment (if any) and seats for escort and security personnel.

2. The cash storage compartments must meet the following technical standards:

a) In respect of trucks: Storage compartments are in enclosed box shape with 3 layers. The inner and outer layers are of stainless steel or steel treated for rust resistance and of minimum thickness of 1 mm (in respect of outer layer) and minimum thickness of 2 mm (in respect of inner layer); the middle layer is of fire-resistance-rated materials. The doors of storage compartments shall be of 01 layer;

b) In respect of other types of vehicles: Storage compartments are in enclosed box shape with 3 layers (not including original vehicle body of manufacturers). The inner and outer layers are of stainless steel or steel treated for rust resistance and of minimum thickness of 1 mm (in respect of outer layer) and minimum thickness of 2 mm (in respect of inner layer); the middle layer is of fire-resistance-rated materials. The doors of storage compartments shall be of 2 layers where the outer layer is original doors of the vehicles. In case the storage compartments include ports for observation from and to driver’s cabins, the ports shall be of 2 layers: the inner layer consists of vertical steel bars of ɸ12, evenly distributed, and no more than 60 mm apart from one another; the outer layer consists of transparent materials and steel mesh;

c) The doors of storage compartments are firmly hinged, bolted, locked (keys and locks, analog keypads, electronic keypads), and of a dimension convenient for handling;

d) The storage compartments shall be equipped with lights, security alarm devices, fire alarm devices, and surveillance camera (if any).

Chapter IV

IMPLEMENTATION PROVISIONS

Article 9. Responsibilities of relevant units under the State Bank of Vietnam

1. The Issue and Vault Department is responsible for guiding and inspecting the implementation of this Circular.

2. The Banking Supervisory Agency and the State Bank branches in provinces and cities are responsible for inspecting and examining the implementation of this Circular in respect of credit institutions and foreign bank branches within their assigned functions and tasks.

Article 10. Responsibilities of credit institutions and foreign bank branches

1. The credit institutions and foreign bank branches shall, based on actual capabilities and requirements for preserving money, precious assets, and valuable papers, provide regulations and instructions in the system on:

a) Area of money vaults; arrangement of vault space, intermediate space and doors of intermediate space, money vault protection corridor (if any) appropriate to money vaults of headquarters and branches;

b) Technical standards for money vaults and requirements for equipment systems installed at money vaults of transaction offices;

c) Regulations on storage duration of surveillance camera footage;

d) Regulations on other means of transport (other than cash-in-transit vehicles) in areas with difficult traffic situations, specific traffic situations, or according to actual capabilities and requirements and responsibility for safety of money and assets;

dd) Regulations on management, use and operation of equipment systems; rules or guiding documents stipulating monitoring and handling of situations upon receiving signals indicating emergencies to equipment systems; periodic maintenance and technical maintenance of equipment systems in accordance with instructions of manufacturers and installation units.

2. Credit institutions and foreign bank branches shall, based on actual conditions and regulations in this Circular, research and apply scientific and technical advances in building money vaults and installing equipment systems, means of transportation in the system and be responsible for ensuring the safety of money and assets.

3. Credit institutions and foreign bank branches are solely responsible for selecting and installing vault doors and equipment systems in accordance with the technical standards in this Circular.

4. For people's credit funds and microfinance institutions:

a) People's credit funds and microfinance institutions shall comply with relevant regulations in this Circular upon constructing money vaults and purchasing cash-in-transit vehicles if possible;

b) For people's credit funds and microfinance institutions that do not have enough conditions to build money vaults and purchase cash-in-transit vehicles according to the standards in this Circular, the Chairperson of the Board of Directors and the General Director (Director) are responsible for directing the construction, repair, renovation and upgrading of money vaults; arranging appropriate means and forms of protection and transportation of money to ensure safety during the process of preserving and transporting money of the people's Credit Fund and microfinance institutions.

Article 11. Transitional provision

1. The cash-in-transit vehicles purchased and furnished; money vaults built, renovated, upgraded, and furnished in accordance with documents issued before the effective date of Circular No. 02/2012/TT-NHNN dated October 25, 2012, of the Governor of State Bank, shall be eligible for further use. Repair, replacement, or addition in case of damage or replacement shall conform to this Circular.

2. The cash-in-transit vehicles purchased and furnished; money vaults built, renovated, upgraded, and furnished or subject to procurement and construction contracts in accordance with Circular No. 02/2012/TT-NHNN dated October 25, 2012 of the Governor of State Bank before the effective date hereof shall be eligible for further use whereas their maintenance and preservation shall conform to applicable regulations.

Article 12. Effect

1. This Circular takes effect from February 12, 2024.

2. This Circular annuls Circular No. 02/2012/TT-NHNN dated October 25, 2012, of the Governor of the State Bank of Vietnam, regulating technical standards for money vaults and specialized vehicles of the credit institutions and the foreign bank branches.

Article 13. Responsibilities for implementation organization

The Chief of Office, Director of the Issue and Vault Department, Heads of units under the State Bank, Directors of State Bank branches in provinces and cities; credit institutions and foreign bank branches are responsible for organizing the implementation of this Circular./.