Press Release on issuance of Circular No.44/2018/TT-NHNN
Hanoi, December 28, 2018 – The Governor of the State Bank of Vietnam (SBV) issued Circular No.44/2018/TT-NHNN amending and supplementing a number of Articles of Circular No.36/2012/TT-NHNN dated December 28, 2012 stipulating the installation, management, operations and security of automated teller machines (ATMs) (as amended and supplemented by Circular No.20/2016/TT-NHNN dated June 30, 2016, Circular No.30/2016/TT-NHNN dated October 14, 2016).
Accordingly, the new Circular is composed of 3 Articles with the main substances as follows:
1. Amending Paragraph 2 of Article 4 guiding the procedures of making notifications on the installation, location and time changes and the suspension of operations of an ATM, which is installed in a different city or province from where the head office of the payment service provider directly managing the ATM is located.
2. Amending Paragraph 2 of Article 5: The payment service providers shall report on any suspension of their ATM(s) (or expected suspension) for a period of over 24 hours in accordance with the reporting regime applied to credit institutions, foreign bank branches (not required to send paper reports to the local SBV branch).
3. Amending Paragraph 1 of Article 10 with the aims of simplifying the periodical report regime under the SBV’s jurisdiction (change quarterly reports into periodical 6-month and annual reports).
4. Amending Paragraph 3 of Article 11 stipulating the responsibilities for examination and handling with violations regarding an ATM which is installed in a different city or province from where the head office of the payment service provider directly managing the ATM is located.
The new Circular takes effect from February 18th, 2019.
Translated by Le Hang