Press Release on the issuance of Circular 12/2017/TT-NHNN on revising, supplementing several substances of Circular No.01/2014/TT-NHNN dated January 6, 2014.
The Governor of the State Bank of Vietnam (SBV) issued Circular No.12/2017/TT-NHNN dated August 31, 2017 revising, supplementing several substances of Circular No.01/2014/TT-NHNN dated January 6, 2014 of the Governor of the SBV stipulating the delivery, receipt, preservation and transportation of cash, precious assets and valuable papers.
1. The new Circular includes 3 articles:
Article 1 regulates the revision, supplementation of several contents of Circular No.01/2014/TT-NHNN dated January 6, 2014 of the Governor of the SBV stipulating the delivery, receipt, preservation and transportation of cash, precious assets and valuable papers.
Article 2 regulates the responsibilities for the implementation.
Article 3 regulates the terms of implementation.
2. Substances of revision and supplementation:
- Adding regulation to Article 11 on cash delivery and receipt in the banking sector: supplementing the cash delivery and receipt in accordance with transfer orders between Central vaults, between the central vaults and SBV Binh Dinh branch in bags with its seals remain intact for the denominations of 50,000 VND and below; Cash delivery and receipt shall take place within the Central vault and SBV Binh Dinh branch in bags with its seals remain intact.
- Revising, supplementing Item 1, Article 17 on the responsibilities of Director General of the Issue and Vault Department, Heads of the Sub-departments of Issue and Vault, Directors: Revising the subjects being responsible for managerial organization, assurance of safety and secrecy for cash, precious assets, valuable papers and operations of vaults at credit institutions, foreign-bank branches; supplementing the task of direct participation in the periodical or extraordinary asset inventory.
- Revising Item 1, Article 18 on responsibilities of Heads of Accounting Divisions: adding the title equivalent to Heads of Accounting Division.
- Revising the title of Article 21 on obligations of Heads of the Central vaults, Heads of Treasury Divisions of Transaction Centers, Heads of Monetary and Vault Divisions under the State Bank’s branches.
- Revising substances of Item 2, Article 28 on preservation of the keys to the vault doors
- Revising, supplementing Item 2, Article 35 on responsibilities of the officials assigned to manage and use the keys to the vault doors or the safe boxes: adding the regulation that the keys of the safe boxes of ATM machines, keys of the safe boxes of specialized vehicles for transporting cash, precious assets and valuable papers must be preserved at the office or unit headquarters after being used.
- Adding Article 39 on subjects permitted to enter the vaults: adding officers assigned with tasks of rescuing assets in emergency cases.
- Revising contents of Item 2, Article 63 on the Inventory Council for the Preservative Fund for issuance, precious assets, valuable papers at the Central vault monthly at 00:00 hours of the first day of the month, which shall be decided to be set up by the Director General of the Issue and Vault Department.
This Circular will take effect from October 16, 2017.
The State Bank of Vietnam
Translated by Thoa Le