Decree No. 10/2026/TT-NHNN Amending and Supplementing Certain Articles of Decree No. 27/2024/TT-NHNN on Cooperatives Banks, the Collection, Management, and Utilization of the Deposit Insurance Fund System Safety Fund as amended by Decree No. 28/2025/TT-NHNN

AMENDING AND ENRICHING SEVERAL ARTICLES OF CIRCULAR NO. 27/2024/TT-NHNN

REGULATING COOPERATIVE BANKS, WITHDRAWAL, MANAGEMENT, AND USE OF THE SYSTEM SAFETY FUND FOR PEOPLE'S CREDIT UNIONS AS AMENDED BY CIRCULAR NO. 28/2025/TT-NHNN

BASED ON

THE LAW OF VIETNAM STATE BANK No. 46/2010/QH12;

BASED ON THE LAW OF CREDIT INSTITUTIONS No. 32/2024/QH15, AMENDED AND ENRICHED BY LAWS No. 96/2025/QH15;

BASED ON THE COOPERATIVE LAW No. 17/2023/QH15; BASED ON DECREE

NO. 26/2025/NĐ-CP

OF THE GOVERNMENT REGULATING THE FUNCTION, MISSION, POWERS, AND ORGANIZATIONAL STRUCTURE OF THE VIETNAM STATE BANK; IN ACCORDANCE WITH THE PROPOSAL OF THE DIRECTOR OF THE CREDIT INSTITUTIONS SAFETY SYSTEMS MANAGEMENT OFFICE; THE GOVERNOR OF THE VIETNAM STATE BANK ISSUES THIS CIRCULAR

AMENDING AND ENRICHING SEVERAL ARTICLES OF CIRCULAR NO. 27/2024/TT-NHNN REGULATING COOPERATIVE BANKS, WITHDRAWAL, MANAGEMENT, AND USE OF THE SYSTEM SAFETY FUND FOR PEOPLE'S CREDIT UNIONS AS AMENDED BY CIRCULAR NO. 28/2025/TT-NHNN.

ARTICLE 1. Amend and Enrich the Title and Certain Clauses of Article 5 1. Amend the title of Article 5 as follows: "Article 5. Duration of Operation, Operating Area, Main Office".

2. Add Clause 3 to Article 5 as follows: "3. The main office of a cooperative bank must comply with the provisions on the main office of a cooperative according to the Cooperative Law and meet the following conditions: a) It is the workplace of the Board of Directors, General Manager, which is recorded in the license in accordance with legal provisions and used for transactions with customers; b) Must be located within the territory of Vietnam, have a specific address, telephone number, email address (if any); c) Ensure convenient transactions with customers and comply with the State Bank's regulations on cash management if the main office conducts transactions with customers; d) Have an information management system that is connected online between the main office and branches and business departments of the bank to meet the requirements for corporate governance and risk management of the bank and the requirements of the State Bank."

ARTICLE 2. Amend and Enrich Article 6

"Article 6. Issuance, Replacement, and Provision of Copies of the License for Establishment and Operation, Issuance of Copies from the Original Record

1. Principles of establishment, submission, receipt, and issuance of results:

a) Documents in the application file for issuing or replacing the license and providing copies from the original record must be signed by the legal representative or authorized person of the cooperative bank (hereinafter referred to as the lawful representative). In case of signing under authorization, the application file must include an authorization document that complies with legal provisions;
b) The application file for issuing or replacing the license and providing copies from the original record of a cooperative bank is in Vietnamese language;
c) For documents in duplicate form, the cooperative bank shall submit a copy issued from the original record or a certified copy or a copy accompanied by the original document for verification. In case the applicant submits a copy accompanied by the original document for verification, the verifier must sign to confirm on the copy and bear responsibility for the accuracy of the copy compared to the original;
d) Each application file must include a list of documents. The file is submitted to the State Bank in one of the following forms:
(i) Submitted directly at the One-Stop Service Counter of the State Bank;
(ii) Sent via postal service;
(iii) Submitted online through the National E-Government Portal (if available).
When submitting application files online through the National E-Government Portal, electronic documents are used with a digital signature in accordance with legal provisions on the implementation of administrative procedures in an electronic environment. Electronic documents in the file are scanned copies from the original document or the original document (in PDF format).
In case the National E-Government Portal system encounters technical issues or errors preventing the reception and exchange of electronic information, the submission, receipt, issuance, exchange, and feedback of information shall be conducted via postal service or directly at the One-Stop Service Counter of the State Bank;
e) The State Bank will issue results through online services on the National E-Government Portal or postal service or directly at the One-Stop Service Counter of the State Bank.
2. Principles for issuing a replacement license:
a) The State Bank shall not issue a replacement for activities that the cooperative bank is not permitted to conduct according to legal provisions at the time of issuance;
b) The State Bank will adjust the name and content of the activities allowed in accordance with the provisions of the Law on Credit Institutions. The license issued after amendment replaces all previous licenses and related documents issued by the State Bank before the issuance date;
c) In case a cooperative bank requests to add new activity content into the license at the same time as issuing a replacement, the State Bank will consider issuing a replacement that includes the added content based on the cooperative bank's compliance with the requirements set out in paragraph 3 of this article.
3. Application for issuance of a replacement license:
a) Application form for issuance of a replacement license according to the model specified in Appendix 05 attached to this Circular;
b) Application for addition of activity content (in case a cooperative bank requests to add new activity content at the same time as issuing a replacement):
(i) Resolution of the member general meeting approving the request to add content into the license;
(ii) Implementation plan for the added content, including at least: Description of the content, implementation process, analysis of effectiveness and risk prevention and control measures, implementation plan;
(iii) Internal regulations on the business process management system ensuring risk management and control.
(i) The Resolution of the Member General Assembly agrees to supplement the scope of operations into the License;
(ii) The implementation plan for the scope of operations, which shall minimally include: Description of content, implementation process, analysis of effectiveness and measures to prevent and control risks, implementation schedule;
(iii) Internal regulations on the business implementation process to ensure risk management and control.
(iv) Documentation proving compliance with the conditions related to the proposed activities in accordance with the law (if applicable).
4. Procedure for Replacing a License:
a) A rural cooperative bank that requires a license replacement shall prepare one set of application documents in accordance with paragraph 3 of this Article;
b) Within thirty days from the receipt of a complete and valid application document from the rural cooperative bank, the State Bank shall replace the license (including any additional activities to be added simultaneously with the license replacement) as per the request for the rural cooperative bank. In case of refusal, the State Bank shall respond in writing and specify the reasons;
c) After the State Bank replaces the license, the rural cooperative bank must:
(i) Announce the changes to the license within seven working days from the date it is replaced by the State Bank on one of the State Bank's media outlets or in three consecutive issues of a printed newspaper or on one of Vietnam's online newspapers;
(ii) Amend and supplement the Bylaws to be consistent with the content of the newly issued license;
d) Within five working days from the date of replacement, the State Bank shall notify the business registration authority in writing along with the replaced license for updating the national cooperative registration information system as per the law on cooperative registration.
5. The rural cooperative bank that is granted a license replacement must pay the fee for such service to the State Bank (branch) or make online payment through the National E-Government Portal within fifteen days from the date of issuance of the new license, in accordance with the provisions of the law on fees and charges.
6. In case the license of a rural cooperative bank is lost, damaged, or rendered unusable, the rural cooperative bank may submit an application for a copy of the original license using the form specified in Appendix 06 attached to this Circular, directly or through postal services to the State Bank branch (One-Stop Service Counter) where the rural cooperative bank's main office is located, or submit online via the National E-Government Portal requesting consideration for issuance of a copy from the original record as per the law.
The time limit for issuing a copy of the license from the original record shall be in accordance with the provisions on issuing copies from the original records under the law.

Article 3. Add point e to paragraph 1 of Article 21

“e. Purchase of debts from people's credit fund.”

Article 4. Amend and supplement certain paragraphs of Article 24

1. Amend and supplement paragraph 1 as follows: “1. The Preservation Fund shall be used in accordance with the principle of lending without profit, not for profit-making purposes, self-sufficiency, and self-responsibility. A rural cooperative bank may reduce the Preservation Fund for processing non-recoverable special loans according to the provisions of the Law on Credit Institutions.”

2. Add paragraph 4 as follows: “4. The difference in interest income and expenses from the operation of the Preservation Fund, as well as any late payment fees, shall be used to supplement the Preservation Fund.”

Article 5. Amend and supplement Article 25

“Article 25. Withdrawal from the Preservation Fund
1. Time limit for paying the fee for participation in the Preservation Fund:
a) A rural cooperative bank shall pay the fee for participation in the Preservation Fund once a year before January 31 of the following year;
b) A people's credit fund shall pay the fee for participation in the Preservation Fund once per quarter before the first day of the month of the next quarter;
c) In case the last day of the payment period falls on a holiday, public holiday, or weekend, the payment of the fee for participation in the Preservation Fund as provided in point (a) and (b) of this paragraph shall be made on the first working day immediately following such holiday, public holiday, or weekend.
2. The fee for participation in the Preservation Fund of a rural cooperative bank is determined as follows:
a) The level of the participation fee for the Preservation Fund is 0.05% per annum calculated on the average loan balance over the two consecutive years ending December 31 of the year before the payment period;
b) The amount of the participation fee to be paid is determined according to the following formula:

Wherein:
- P: is the amount of the participation fee for the Preservation Fund that must be paid.
- Ai: is the total loan balance at the end of month i of the two consecutive years before the payment period (i = 1 → 12).
- Bi: is the loan balance adjusted for capital, loans to address temporary liquidity difficulties of rural cooperative banks with member people's credit funds at the end of month i of the two consecutive years before the payment period (i = 1 → 12).
- m: is the level of the participation fee as provided in paragraph (a) of this section.
3. The fee for participation in the Preservation Fund of a people's credit fund is determined as follows:
a) The level of the participation fee is determined at a rate of 0.05% per annum calculated on the average balance of insured deposits over quarters according to the Law on Deposit Insurance;
b) The amount of the participation fee to be paid is determined according to the following formula:

Wherein:
- P: is the amount of the participation fee for the Preservation Fund that must be paid.
- S0: is the balance of insured deposits at the beginning of the first day of the first month of the quarter preceding the quarter in which the payment is made.
- S1, S2, S3 : are the balances of insured deposits at the end of the last day of each of the first, second, and third months of the quarter preceding the quarter in which the payment is made.
- m: is the level of the participation fee as provided in paragraph (a) of this section;
c) In case a people's credit fund participates in the Preservation Fund for the first time, the amount of the participation fee to be paid for the first quarter shall be calculated according to the following formula:

Wherein:
- P: is the amount of the participation fee for the Preservation Fund that must be paid.
- Si: is the balance of insured deposits at the end of day i of the people's credit fund (i = 1 → n).
i = 1: is the first day of operation.
i = n: is the last day of the quarter in which operations begin.
- m: is the level of the participation fee as provided in paragraph (a) of this section;
d) In case a people's credit fund is placed under special supervision, the amount of the participation fee to be paid for the quarter during which it is placed under special supervision shall be calculated according to the formula specified in point (c) of this paragraph; where Si is the balance of insured deposits on day i (i = 1 → n); S1 is the balance of insured deposits at the end of the first day of the quarter when the decision placing the people's credit fund under special supervision becomes effective; Sn is the balance of insured deposits at the end of the last day before the decision placing it under special supervision becomes effective.
(d) In the case of a rural credit cooperative resuming normal operations after its special supervision is terminated, the amount of participation fee to be paid into the Preservation Fund for the quarter in which the special supervision ends shall be calculated by the formula specified at point (c) of this clause; where Si is the balance of insured deposits on day i (i = 1 → n); S1 is the balance of insured deposits on the last business day immediately following the effective date of the decision to terminate special supervision; Sn is the balance of insured deposits on the last business day of the quarter in which the decision to terminate special supervision becomes effective;
(e) In the case of a rural credit cooperative undergoing merger or consolidation, the amount of participation fee to be paid into the Preservation Fund for the quarter in which the decision to merge or consolidate becomes effective and the resulting rural credit cooperative must pay shall be calculated by the formula specified at point (b) of this clause; where S0 is the total balance of insured deposits on the first business day of the first month of the quarter in which the decision to merge or consolidate becomes effective for all participating rural credit cooperatives; S1, S2, S3 are the total balances of insured deposits on the last business days of the first, second, and third months of the quarter in which the decision to merge or consolidate becomes effective for all participating rural credit cooperatives, including the resulting rural credit cooperative;
(g) In the case where special supervision is terminated and a merger or consolidation are carried out within the same quarter, the amount of participation fee to be paid into the Preservation Fund by the newly formed rural credit cooperative after the merger or consolidation shall apply the formula P = P1 + P2 + P3.
Wherein:
- P1 is calculated by the formula specified at point (c) of this clause; where S1 is the balance of insured deposits on the last business day immediately following the effective date of the decision to terminate special supervision for the rural credit cooperative placed under special supervision; Sn is the balance of insured deposits on the last business day immediately preceding the effective date of the decision to merge or consolidate for the rural credit cooperative placed under special supervision.
- P2 is calculated by the formula specified at point (c) of this clause; where S1 is the balance of insured deposits on the first business day of the quarter for the rural credit cooperative not placed under special supervision; Sn is the balance of insured deposits on the last business day immediately preceding the effective date of the decision to merge or consolidate for the rural credit cooperative not placed under special supervision and participating in the merger or consolidation.
- P3 is calculated by the formula specified at point (c) of this clause; where S1 is the balance of insured deposits on the last business day of the decision to merge or consolidate becomes effective for the newly formed rural credit cooperative after the merger or consolidation; Sn is the balance of insured deposits on the last business day of the quarter for the newly formed rural credit cooperative after the merger or consolidation;
(h) In the case of a rural credit cooperative undergoing separation, the amount of participation fee to be paid into the Preservation Fund for the quarter in which the decision to separate becomes effective and the resulting rural credit cooperative must pay shall be calculated by the formula specified at point (c) of this clause; where S1 is the balance of insured deposits on the last business day immediately following the opening date; Sn is the balance of insured deposits on the last business day of the quarter in which the decision to separate becomes effective for the newly formed rural credit cooperative after separation.
(i) In the case of a rural credit cooperative undergoing division, the amount of participation fee to be paid into the Preservation Fund for the quarter in which the decision to divide becomes effective and the resulting rural credit cooperatives must pay shall be calculated according to the formula P = P1 x T + P2.
Wherein:
- P1 is calculated by the formula specified at point (c) of this clause; where S1 is the balance of insured deposits on the first business day of the quarter in which the decision to divide becomes effective for the rural credit cooperative being divided; Sn is the balance of insured deposits on the last business day immediately preceding the opening date of the newly formed rural credit cooperative after division for the rural credit cooperative being divided.
- T is the ratio between the balance of insured deposits of the new rural credit cooperative formed after division and the balance of insured deposits of the rural credit cooperative being divided at the time of division.
- P2 is calculated by the formula specified at point (c) of this clause; where S1 is the balance of insured deposits on the opening date for the newly formed rural credit cooperative after division; Sn is the balance of insured deposits on the last business day of the quarter in which the decision to divide becomes effective for the newly formed rural credit cooperative after division.
4. Exemption and deferral of payment of participation fee:
(a) A rural credit cooperative under special supervision shall be exempt from paying the participation fee to the Preservation Fund from the date the decision placing it under special supervision becomes effective until the decision terminating special supervision becomes effective;
(b) A rural credit cooperative under special supervision may have its payment of the participation fee for the quarter immediately preceding the quarter in which it was placed under special supervision deferred, and any unpaid or late fees and interest accrued prior to the date on which the rural credit cooperative was placed under special supervision (if any). The amounts deferred shall be paid by the due date for the next quarter following the decision terminating special supervision becomes effective. In the event that a rural credit cooperative is placed under special supervision leading to its bankruptcy, payment of the deferred amounts mentioned above shall be made in accordance with the provisions of the law on bankruptcy;
(c) Within five working days from the receipt of the decision placing the rural credit cooperative under special supervision or extending the period of special supervision, the cooperative bank shall determine the amount that may be deferred according to point (b) of this clause and notify the rural credit cooperative in writing regarding the exemption and deferral as provided at points (a) and (b) of this clause.
The notification on exemption and deferral includes the following contents: exemption from payment of participation fee to the Preservation Fund as specified at point (a) of this clause; notification of the amount deferred according to point (b) of this clause;
(d) In case the amount notified by the cooperative bank is inaccurate, within 15 days, the rural credit cooperative may submit a written request to the cooperative bank for adjustment of the deferred amount.
Within three working days from the receipt of the document from the People's Credit Fund, the cooperative bank shall issue a written notification to the People's Credit Fund regarding whether or not to adjust the amount temporarily suspended. In case no adjustment is made, the reason must be stated in the document;
d) The People's Credit Fund subject to special supervision shall be responsible for developing a plan to fully repay the temporarily suspended amount as specified in point b of this paragraph within the restructuring scheme approved by the competent authority and send the approved plan to the cooperative bank.
5. Measures for handling underpayment or late payment of the participation fee to the Preservation Fund:
a) Where a People's Credit Fund violates the deadline for paying the participation fee to the Preservation Fund as specified in Clause 1 of this Article, in addition to making up for any unpaid fees, it shall bear the late payment penalty according to the provisions of the Regulation on Management and Use of the Preservation Fund, except where the delay is due to an irresistible event under the law or falls within the circumstances of temporary suspension of the participation fee as specified in Clause 4 of this Article;
b) Within twenty days from the end of the deadline for paying the participation fee to the Preservation Fund as specified in Clause 1 of this Article, the cooperative bank shall issue a written notification to the People's Credit Fund member regarding the calculation and payment of the participation fee to the Preservation Fund, specifying any amount due or overpaid. The People's Credit Fund member shall make up for any unpaid portion (if applicable) within fifteen days from the date of issuance of the notification; the cooperative bank shall refund any overpayment (if applicable) within the same period;
c) Where an error is discovered in the calculation and payment of the participation fee to the Preservation Fund, the cooperative bank shall issue a written notification for recovery or refund of the unpaid amount or overpaid portion within fifteen days from the date of discovery;
d) Within thirty days from the due date for paying the Preservation Fund fee where the People's Credit Fund fails to pay or pays insufficiently and late, the cooperative bank shall report in writing to the Regional Branch of the State Bank for handling the People's Credit Fund on its territory.
6. The cooperative bank and the People's Credit Fund member shall only make payment of the participation fee to the Preservation Fund when the total operational capital of the Preservation Fund at the end of the quarter immediately preceding the quarter in which the fee is due is less than 1.5% of the total assets of the system of People's Credit Funds.
In case after making the payment for the quarter, the total operational capital of the Preservation Fund reaches or exceeds 1.5% of the total assets of the system of People's Credit Funds, the payment shall be suspended from the next quarter onwards.
7. The amount paid to the Preservation Fund is accounted as an operating expense in the corresponding quarter/year when the obligation to pay the fee arises.
8. The calculation and payment of the participation fee to the Preservation Fund for People's Credit Funds shall be carried out from the third quarter of 2026.

Article 6. Amendment and Supplement to Certain Points and Clauses of Article 26

1. Amend and supplement Clause 1 as follows: “1. The Preservation Fund is managed and used throughout the system of People's Credit Funds in accordance with the Regulation on Management and Use of the Preservation Fund, which is developed, promulgated by the cooperative bank, and approved by the members' general meeting of the cooperative bank. Any amendment or supplement to the Regulation on Management and Use of the Preservation Fund must be approved by the members' general meeting of the cooperative bank. In case the law provides for changes in the Regulation on Management and Use of the Preservation Fund, the cooperative bank shall review, amend, and supplement the regulation and submit it for approval at the next nearest general meeting. Within seven working days from the date of promulgation or amendment and supplementation of the Regulation on Management and Use of the Preservation Fund, the cooperative bank shall send the regulation and content of any amendments to the State Bank for implementation of supervisory activities.”

2. Amend and supplement Clause 2 as follows:

a) Amend and supplement point b(iii) as follows: “(iii) Conditions for lending; maximum lending limit per People's Credit Fund; duration of support lending; interest rate on support lending; commitments upon receiving support lending (including cases where lending is provided in accordance with paragraph 2, Article 159 and paragraph 2, Article 171 Law on Credit Institutions);”;

b) Amend and supplement point d as follows: “d) Procedures for reconciliation, collection, and payment of fees; circumstances under which fees may be waived or temporarily suspended; late fee amount;”;

c) Amend and supplement point e as follows: “e) Principles, conditions, and authority for handling risks associated with support lending that cannot be recovered; mechanism for reducing the Preservation Fund in accordance with legal provisions for special loans that cannot be repaid;”;

d) Amend and supplement point i as follows: “i) Organizational structure, duties, and powers of the department directly managing the Preservation Fund; mechanisms for public disclosure of information and reporting systems for members participating in the Preservation Fund and state management agencies.”

Article 7. Amendment and Supplement to Point a Clause 1 of Article 27

"a) Credit cooperatives experiencing financial difficulties or difficulty in payment to ensure the ability to pay as per the Regulation on Management and Use of Preservation Fund;"

Article 8. Addition of Clause 7 to Article 30

"7. Cooperate with the Vietnam Deposit Insurance Corporation in sharing aggregated data reports on total insured deposits of credit cooperatives for the purpose of calculating fees for participation in the Preservation Fund."

Article 9. Addition of Clause 4 to Article 31

"4. Provide information to the cooperative bank as per Appendices 07, 08, 09, and 10 attached hereto and bear responsibility for the accuracy and truthfulness of such information."

Article 10. Amendment and Supplement to Certain Points and Clauses of Article 32

1. Amend point c clause 2 as follows: "c) Serve as the primary entity for reviewing applications for license changes, submitting them to the Governor of the State Bank of Vietnam for examination and decision on issuing amended licenses in accordance with paragraph 6 of this Circular; report information to the business registration authority as per point d clause 4 of paragraph 6 of this Circular;"

2. Add point d clause 4 as follows: "d) Provide copies of the license from the original register to the cooperative bank as per paragraph 6 of this Circular;"

Article 11. Amendment and Supplement to Certain Appendices

1. Replace Appendix 01 attached to Circular No. 27/2024/NHNN with Appendix 01 attached hereto.

2. Abolish Appendix 01 attached to Circular No. 28/2025/NHNN.

3. Add Appendices 05, 06, 07, 08, 09, and 10 attached hereto.

Article 12. Provisions for Implementation

1. This Circular shall take effect from July 3, 2026.

2. The calculation and payment of fees for participation in the Preservation Fund by credit cooperatives in 2026 shall be as follows:

a) The amount of Preservation Fund contribution for the first and second quarters of 2026 shall be 50% of the total fee due for 2026 as per Circular No. 27/2024/NHNN on cooperative banks, the provisions concerning the extraction, payment, management, and use of the Preservation Fund to ensure the safety of credit cooperatives, which has been amended and supplemented by Circular No. 28/2025/NHNN;

b) Credit cooperatives shall make payments in accordance with this clause a before January 31, 2027.

3. Abolish the provisions at Article 6, Clause 1 of Circular No. 11/2025/NHNN dated September 30, 2025, issued by the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circular No. 27/2024/NHNN on cooperative banks, provisions concerning the extraction, payment, management, and use of the Preservation Fund to ensure the safety of credit cooperatives.

Article 13. Responsibilities for Implementation

The heads of units under the State Bank of Vietnam, the Vietnam Deposit Insurance Corporation, cooperative banks, and credit cooperatives shall bear responsibility for implementing this Circular.