Circular No. 12/2017/TT-NHNN amending and supplementing certain articles of Circular No. 01/2014/TT-NHNN dated January 6, 2014, issued by the Governor of the State Bank of Vietnam on the handover, storage, and transportation of cash, valuable assets, and negotiable instruments.

CIRCULAR

Amending and supplementing certain Articles of Circular No. 01/2014/TT-NHNN dated January 6, 2014 of the Governor of the State Bank of Vietnam

dated January 6, 2014, of the Governor of the State Bank of Vietnam

regarding the handover, storage, and transportation

of cash, precious assets, and securities

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

Pursuant to Decree No. 40/2012/NĐ-CP dated May 2, 2012 of the Government on currency issuance operations; storage and transportation of precious assets and securities within the State Bank system, credit institutions, and foreign bank branches;

Pursuant to Government Decree No. 16/2017/NĐ-CP dated February 17, 2017 on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Issuance and Treasury Department;

The Governor of the State Bank of Vietnam issues this Circular amending and supplementing certain provisions of Circular No. 01/2014/TT-NHNN dated January 6, 2014 of the Governor of the State Bank of Vietnam on the handover, storage, and transportation of cash, precious assets, and securities.

Article 1. Amending and supplementing certain provisions of Circular No. 01/2014/TT-NHNN dated January 6, 2014 of the Governor of the State Bank of Vietnam on the handover, storage, and transportation of cash, precious assets, and securities

"a) Handover of cash within the internal transactions of the Trading Department, State Bank branch for circulated money, except in cases provided for in point c and d of Clause 2 of this Article;

b) Handover of cash according to transfer orders between the Central Cash Vault and the Trading Department, State Bank branch, and vice versa; between Central Cash Vaults with each other; between State Bank branches with each other, except in cases provided for in point d of Clause 2 of this Article;"

"d) Handover of cash denominations from 50,000 VND and below according to transfer orders between Central Cash Vaults with each other; between the Central Cash Vault and the State Bank branch in Bình Định province and vice versa;

đ) Handover of cash within the internal transactions of the Central Cash Vault; State Bank branch in Bình Định province."

3. Clause 1, Article 17 shall be amended and supplemented as follows:

"1. The Director of the Currency Issuance and Treasury Management Department, the Director of the Currency Issuance and Treasury Management Sub-department, the Director of the Trading Department, the Director of the State Bank branch; the head of the unit entrusted with managing the treasury at the headquarters of credit institutions, the Director of the branch of credit institutions, the General Director (Director) of the foreign bank branch (hereinafter referred to collectively as the Director) shall be responsible for organizing management, ensuring safety, confidentiality of cash, precious assets, securities, and the operation of the treasury at their units, and have the following tasks:

a) Equipping security facilities and equipment in accordance with regulations;

b) Directing the application of necessary measures to prevent loss, confusion, theft, fire, flood, mold, pests, and other causes, ensuring the quality of money stored in the treasury;

c) Managing and keeping the key to one lock of the outer door of the treasury;

d) Directly opening and locking the door to supervise the entry, exit, and storage of assets in the treasury; đ) Directly participating in periodic or spot inventory checks."

4. Clause 1, Article 18 shall be amended and supplemented as follows:

"1. The Head of the Accounting Department or equivalent position (hereinafter referred to as the Head of the Accounting Department) of credit institutions, foreign bank branches shall be responsible for managing and supervising the entry, exit, and storage of assets in the treasury, and have the following tasks:

a) Organizing accounting records for cash, precious assets, and securities in accordance with accounting and statistical regulations;

b) Managing and keeping the key to one lock of the outer door of the treasury, directly opening and locking the door to supervise the entry, exit, and storage of assets in the treasury;

c) Checking and reconciling accounting records with treasury records to ensure accuracy;

d) Directly participating in periodic or spot inventory checks to ensure consistency between actual inventory and accounting and treasury records; signing confirmation of actual inventory on the treasury record, asset tracking sheet, inventory list, and warehouse card; đ) Guiding and checking the opening and recording of ledgers by the cashier and treasury manager."

"Article 21. Responsibilities of the Head of the Central Treasury; Head of the Treasury Department of the Trading Department; Head of the Currency and Treasury Department or Head of the Currency and Treasury Department and Administrative Affairs Department of the State Bank branch

5. Article 21 is amended and supplemented as follows:

1. Directing and inspecting treasury management operations; organizing the collection, payment (entry, exit), storage, and transportation of cash, precious assets, and securities in accordance with regulations.
2. Directing and inspecting the opening and recording of ledgers by the cashier and treasury manager.
3. Participating in inspections, inventory checks, and handovers of cash, precious assets, and securities."

6. Clause 2, Article 28 shall be amended and supplemented as follows:

"2. The door of the treasury shall be equipped with a code lock, each member managing a lock number shall set their own code and accurately record it on paper; two to three codes must be recorded for daily use and frequently changed. Each person's code shall be sealed in a separate envelope, kept in a separate safe along with the currently used key. If the code is forgotten, permission to unseal and reseal the envelope is allowed. In case of using a different code outside those sealed, a written report must be submitted to the Director; upon approval, procedures for opening the spare key box, changing the code, and sending the spare key of the treasury door in accordance with Article 31 of this Circular shall be followed."

7. Clause 2, Article 35 shall be amended and supplemented as follows:

"2. Keys shall not be taken out of the office premises. After use, keys to the safe of ATMs, keys to the safe of dedicated vehicles transporting cash, precious assets, and securities must be returned and kept at the office premises, unit."

8. Clause 9, Article 39 shall be amended and supplemented as follows:

"9. Staff assigned the task of organizing and loading/unloading, transporting assets stored in the treasury or assigned the task of entering the treasury to rescue assets in emergency situations."

9. Clause 2, Article 63 shall be amended and supplemented as follows:

"2. The Inventory Committee of the Reserve Fund, precious assets, and securities at the Central Treasury at 00:00 on the first day of each month shall be established by the Director of the Currency Issuance and Treasury Management Department, consisting of the following members:

a) Chairperson: The Director of the Currency Issuance and Treasury Management Department or the Director of the Currency Issuance and Treasury Management Sub-department;
b) Members: The Head of the Accounting and Finance Department, the Head of the Treasury, and audit staff."

b) The members: The Head of the Accounting-Finance Department, the Cashier Supervisor, and the audit officer.

Article 2. Responsibility for Implementation

The Head of the Office, the Director of the Issuance and Treasury Department, the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam branches in provinces and cities, the Chairmen of the Management Boards, the Chairmen of the Members' Councils and General Directors (Directors) of credit organizations, and foreign bank branches shall be responsible for organizing and implementing this Circular.

Article 3. Implementation Provisions

This Circular takes effect from October 16, 2017./.