Consolidated Document number 17/VBHN-NHNN guiding foreign exchange management for cross-border trade activities between Vietnam and China.

SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness _________________

 

 

CIRCULAR

Provisions on the determination, provision, management, and use of risk reserve funds State Bank of Vietnam

 

Circular No. 39/2013/TT-NHNN dated December 31, 2013 of the Governor of the State Bank of Vietnam on the determination, provision, management, and use of risk reserve funds of the State Bank of Vietnam, which took effect from June 1, 2014, has been amended and supplemented by:

1. Circular No. 37/2018/TT-NHNN dated December 25, 2018 of the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circular No. 39/2013/TT-NHNN dated December 31, 2013 of the Governor of the State Bank of Vietnam on the determination, provision, management, and use of risk reserve funds of the State Bank of Vietnam, which took effect from February 15, 2019.

2. Circular No. 06/2021/TT-NHNN dated June 30, 2021 of the Governor of the State Bank of Vietnam amending and supplementing certain articles of Circular No. 39/2013/TT-NHNN dated December 31, 2013 of the Governor of the State Bank of Vietnam on the determination, provision, management, and use of risk reserve funds of the State Bank of Vietnam, which took effect from August 16, 2021.

3. Circular No. 70/2025/TT-NHNN dated December 31, 2025 of the Governor of the State Bank of Vietnam "7. A flexible power plant is a thermal power plant using reciprocating internal combustion engines (RICE) or aeroderivative gas turbines (Aero-GT) with fast start-up capabilities, designed in modular form to generate electricity for balancing capacity and maintaining power system stability."amending and supplementing certain provisions of legal documents in the field of accounting issued by the Governor of the State Bank of Vietnam, which takes effect from January 1, 2026.

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to Decree No. 156/2013/NĐ-CP dated November 1, 2013 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decision No. 07/2013/QĐ-TTg dated January 24, 2013 of the Prime Minister on the financial regime of the State Bank of Vietnam;

At the proposal of the Director of the Department of Finance and Accounting;

The Governor of the State Bank of Vietnam promulgates this Circular on the determination, provision, management, and use of risk reserve funds of the State Bank of Vietnam (hereinafter referred to as the State Bank).^{[1],[2] ,[3]}

Chapter I. GENERAL PROVISIONS

 

Article 1. Scope of Regulation and Applicability

1. This Circular provides for the determination, provision, management, and use of risk reserve funds of the State Bank of Vietnam to handle losses or deemed losses (hereinafter referred to as loss items) in the operations of the State Bank.

2. Loss items arising in the operations of the State Bank include:

a) Loss items arising from risk asset items of the State Bank:

- Money and gold deposited with foreign banks, loans and payments with foreign banks;

- Investment securities on international financial markets;

- Loans^[4];

- Payments with the State and State Budget;

- Other receivables;

b) Other loss items.

3.^[5] This Circular applies to units under the State Bank and individuals and organizations related to the determination, provision, management, and use of risk reserve funds of the State Bank.

4. Public service establishments that have implemented the self-management and self-responsibility system and independent economic accounting enterprises directly subordinate to the State Bank are not within the scope of regulation of this Circular.

Article 2. Interpretation of Terms

In this Circular, the following terms are understood as follows:

1. Risk in State Bank operations is potential loss that may occur during the operations of the State Bank, including:

a) The possibility of loss due to customers or partners failing to fulfill or being unable to fulfill part or all of their obligations according to agreements;

b) The possibility of loss due to depreciation of monetary items denominated in foreign currencies, gold, and invested securities;

c) The possibility of loss due to other unforeseeable causes.

2. Risk reserve fund is the total amount of risk reserves that have been provided and recorded as expenses over the years to offset losses in the operations of the State Bank.

3. Required risk reserve amount is the amount of money determined to be set aside for potential losses that may occur during the operations of the State Bank and calculated according to the provisions at Article 7 of this Circular. The required risk reserve amount includes specific reserves and general reserves.

4. Specific reserve is the amount of money determined to be set aside for potential losses that may occur for each specific risk asset item.

5. General reserve is the amount of money determined to be set aside for potential losses that may occur but cannot be identified when setting up specific reserves.

6. Pre-provision risk reserve balance is the risk reserve that has been provided but not used before the provision date.

7. Post-provision risk reserve balance is the risk reserve that has been provided but not used after the provision date.

8. Additional required risk reserve amount is the positive difference between the required risk reserve amount and the pre-provision risk reserve balance.

9. Required risk reserve amount to be reversed is the negative difference between the required risk reserve amount and the pre-provision risk reserve balance.

10. Risk reserve amount provided in the fiscal year is the risk reserve amount provided and recorded as expense in the fiscal year. The determination of the risk reserve amount provided in the fiscal year is carried out according to the provisions at Clause 2 Article 8 of this Circular.

Article 3. Principles for setting aside, accounting, and using the risk reserve fund

1. Annually, the State Bank sets aside a risk reserve fund and accounts for it as part of expenses equal to 10% of the difference between income and expenditure not including the risk reserve fund. The balance of the risk reserve fund after the set-aside period shall not exceed the amount required to be set aside.

2. The process of setting aside and accounting for the risk reserve fund set aside during the fiscal year of the State Bank shall be centralized at the State Bank (Financial and Accounting Department).

3.^[6] The risk reserve fund is used collectively to offset losses and damages to assets occurring during operations after deducting the recovered value of the asset and monetary compensation from organizations and individuals causing the loss and insurance organizations (if any).

4. Any unused portion of the risk reserve fund in a given year shall be carried forward to the next year for continued use.

5. In cases where the risk reserve fund is insufficient to cover losses, the handling of the shortfall shall be carried out in accordance with the current financial regulations of the State Bank.

6. In cases where the amount required to be set aside for the risk reserve fund is less than the balance of the risk reserve fund before the set-aside period, the State Bank shall reverse the difference into its income.

Article 4. Time for Determination, Setting Aside, and Accounting for Risk Reserve Fund

The time for determining, setting aside, and accounting for the risk reserve fund is the end of the annual accounting period (end of December 31 each year).

Article 5. Authority to Handle Losses Using the Risk Reserve Fund

The Governor of the State Bank decides on the handling of losses in the operations of the State Bank based on the recommendations of the Loss Handling Council.

Chapter II. SPECIFIC PROVISIONS

 

Section 1. CLASSIFICATION OF ASSETS WITH RISKS, METHODS FOR DETERMINING AND RISK RESERVE SET-ASIDE RATIOS

Article 6. Classification of Assets with Risks ^[7]

1. Money and gold deposited with foreign banks, loans and payments to foreign banks:

a) Group 1: Money and gold deposited with foreign banks, loans and payments to counterparties meeting the investment selection criteria approved by the Governor of the State Bank during each period (except in the case provided for in point c of this clause);

b) Group 2: Money and gold deposited with foreign banks, loans and payments to counterparties not meeting the investment selection criteria of the Governor of the State Bank at the time of determining the risk reserve (except in the case provided for in point c of this clause);

c) Group 3: Money and gold deposited with foreign banks, loans and payments to counterparties in countries experiencing war, terrorism, bankruptcy, natural disasters, and those counterparties that are no longer able to pay.

2. Investment securities on international financial markets:

The State Bank does not classify investment securities on international markets for the purpose of setting aside a risk reserve fund. The determination of specific reserves for this item only applies to securities currently invested on international financial markets that have decreased in value compared to their book value.

3. Loans are classified according to increasing levels of risk as follows:

a) Group 1:

(i) Loans not yet due for repayment (including loans automatically extended according to the regulations of the State Bank);

(ii) Loans without specified repayment terms arising within six months;

b) Group 2:

(i) Overdue loans under six months;

(ii) Loans without specified repayment terms arising from six months to under one year;

(iii) Loans extended for the first time and not yet due for repayment;

c) Group 3:

(i) Overdue loans from six months to under one year;

(ii) Loans without specified repayment terms arising from one year to under three years;

(iii) Loans extended for the first time and overdue under six months;

(iv) Loans extended for the second time and not yet due for repayment;

d) Group 4:

(i) Overdue loans from one year to under two years;

(ii) Loans without specified repayment terms arising from three years to under five years;

(iii) Loans extended for the first time and overdue from six months to under one year;

(iv) Loans extended for the second time and overdue under six months;

(v) Loans extended for the third time and not yet due for repayment;

đ) Group 5:

(i) Overdue loans for two years or more;

(ii) Loans without specified repayment terms arising from five years or more;

(iii) Loans extended for the first time and overdue for one year or more;

(iv) Loans extended for the second time and overdue for six months or more;

(v) Loans extended for the third time and overdue;

(vi) Loans extended for the fourth time or more;

(vii) Written-off debts.

4. Payments to the Government and State Budget:

a) Group 1:

(i) Advance payments to the State Budget as stipulated in the Law on the State Bank of Vietnam not yet due for repayment;

(ii) Payments to the Government with specified repayment terms but not yet due;

(iii) Payments to the Government without specified repayment terms, not yet refunded, and arising within one year;

b) Group 2:

(i) Advance payments to the State Budget as stipulated in the Law on the State Bank of Vietnam overdue for less than five years;

(ii) Payments to the Government with specified repayment terms overdue for less than five years;

(iii) Payments to the Government without specified repayment terms, not yet refunded, and arising from one year to less than five years;

c) Group 3:

(i) Advance payments to the State Budget as stipulated in the Law on the State Bank of Vietnam overdue for five years or more;

(ii) Payments to the Government with specified repayment terms overdue for five years or more;

(iii) Payments to the Government without specified repayment terms, not yet refunded, and arising for five years or more.

5. Receivables from organizations and individuals with original documents proving the amount owed but unpaid:

a) Original documents proving the amount owed but unpaid include:

- One of the following original documents: economic contract, debt commitment, judgment, court decision regarding the obligation of organizations or individuals to pay the State Bank;

- Contract termination document (if available);

- Account reconciliation; in case there is no account reconciliation, a request for reconciliation confirming the account balance or a debt collection letter sent by the State Bank (with postmark or confirmation from the delivery unit) must be provided;

- Account balance statement;

- Relevant documents, records, and vouchers related to the occurrence and recording of debt obligations of organizations or individuals to the State Bank (if available).

b) Classification:

(i) Group 1: Receivables of organizations or individuals that have not yet reached the payment deadline or are overdue for less than six months;

(ii) Group 2:

- Receivables of organizations or individuals that are overdue from six months up to less than one year;

- Receivables of organizations or individuals based on judgments or decisions of the Court that have become legally effective within the voluntary execution period;

(iii) Group 3:

- Receivables of organizations or individuals that are overdue from one year up to less than two years;

- Receivables of organizations or individuals based on judgments or decisions of the Court that have become legally effective and are overdue for less than six months beyond the voluntary execution period;

(iv) Group 4:

- Receivables of organizations or individuals that are overdue from two years up to less than three years;

- Receivables of organizations or individuals based on judgments or decisions of the Court that have become legally effective and are overdue from six months up to less than one year beyond the voluntary execution period;

(v) Group 5:

- Receivables of organizations or individuals that are overdue for three years or more;

- Receivables of organizations or individuals based on judgments or decisions of the Court that have become legally effective and are overdue for one year or more beyond the voluntary execution period;

- Receivables where the State Bank has evidence to determine that the debtor organization has been dissolved (for debts arising before the Law on the State Bank of Vietnam 1997 came into effect), bankrupt; the debtor individual has died; debts for which enforcement proceedings have been requested but cannot be carried out due to the debtor being missing or absent from their place of residence. The determination of individuals being absent from their place of residence, declared missing, or deceased shall be carried out in accordance with Articles 64, 68, and 71 of the Civil Code 2015.

6. In cases where the loan criteria satisfy multiple groups as defined in Clause 3 of this Article simultaneously, it shall be classified into the group with the highest risk level.

7. In cases where assets recorded on two different accounting accounts need to be monitored, the exclusion shall be made on the relevant accounting account according to the specific guidance of the State Bank prior to classifying risky assets as stipulated in this Article.

8. The determination and conversion of deadlines and time points for calculating deadlines under Clauses 3, 4, and 5 of this Article shall be implemented in accordance with Articles 146, 147, and 148 of the Civil Code 2015.

Article 7. Method for Determining the Amount of Risk Provisions to be Established

1. The amount of risk provisions to be established is calculated using the following formula:

2. Specific methods for calculating provisions for each item of risky assets:

a) Money and gold deposits at foreign banks, loans and payments to foreign banks:

- Object: money and gold deposits at foreign banks, loans and payments to foreign banks.

- Method for calculating provisions:

Where:

+ Balance of money and gold deposits at foreign banks, loans and payments to foreign banks is calculated at the time of determining risk provisions;

+ Corresponding provision rates are as follows:

• Group 1: 0%;

• Group 2: 20%;

• Group 3: 100%.

b)^[8] Securities investment activities on international financial markets:

(i) Object: securities currently invested in international financial markets that have decreased in value compared to the book value; (ii) Method for calculating provisions: Specific provision for

Book value of the i-th security

Where:

- Object: loans of the State Bank that may result in losses.

Specific provision for loan activities

Principal balance of each loan

Deductible value of collateral^[9]:

Corresponding provision rate^[10] + Principal balance of each loan at the time of determining risk provisions;

- Method for calculating provisions:

+ The deductible value of collateral is determined as follows:[11]	=	∑			• In case the collateral is negotiable instruments:[12]	-	(i) The deductible value of the collateral equals the face value of the negotiable instrument (for unlisted negotiable instruments) or the listed price (for listed negotiable instruments) multiplied by 100%.		x	(ii) The listed price is taken from the reference price at the Stock Exchange at the time of determining risk provisions.

Where:

• In case the collateral is other forms: The deductible value of the collateral is zero.^[13] + In case the deductible value of the collateral exceeds the principal balance, the amount of risk provisions to be established is zero.

• Group 2: 5%;

• Group 3: 20%;

• Group 4: 50%;

• Group 5: 100%.

d) Transactions with the Government and the State Budget:

- Object: transactions with the Government and the State Budget approved by the Prime Minister.

+ Corresponding provision rates are as follows:

• Group 1: 0%;

+ Value of transactions with the Government and the State Budget at the time of determining risk provisions;

• Group 2: 10%;

Receivables of organizations or individuals supported by original documents proving the amount owed by the debtor that remains unpaid:

• Group 5: 100%.

d) Payment with the State and the State Budget:

- Object: payments with the State and the State Budget approved by the Prime Minister.

- Method for calculating provisions:

Where:

+ The value of payments with the State and the State Budget at the time of determining risk reserves;

+ Corresponding provision rates are as follows:

• Group 1: 0%;

• Group 2: 10%.

• Group 3: 100%.

đ)^[14] Amounts receivable from organizations and individuals supported by original documentation proving the amount owed by the debtor that has not been paid:

- Subject: Debts due from organizations and individuals that are overdue for payment or not yet due but for which the State Bank has evidence to determine that the debtor organization has been dissolved (for debts arising before the Law on the State Bank of Vietnam 1997 came into effect), declared bankrupt; the debtor individual has died; debts that have been requested to be enforced but cannot be executed due to the debtor being missing or absent from their place of residence. The determination of individuals being absent from their place of residence, declared missing, or deceased shall be carried out in accordance with Articles 64, 68, and 71 of the Civil Code 2015.

- Method for calculating provisions:

Where:

+ The value of the debts at the time of determining the risk provision;

+ Corresponding provision rates are as follows:

● Group 1: 0%;

● Group 2: 30%;

● Group 3: 50%;

● Group 4: 70%;

● Group 5: 100%.

3. General Provision:

The general provision is calculated at 0.75% of the total assets of the State Bank. The data on the total assets of the State Bank is taken from the Balance Sheet of Quarter 3 of the year in which the risk provision is determined.

Article 8. Procedure for Determining, Establishing and Recording Risk Provisions Established in the Fiscal Year

1. Units under the State Bank shall implement specific provisions for determining risk provisions as stipulated in Article 4, Article 6 and Article 7 of this Circular, prepare reports and submit them to the Department of Finance and Accounting by the end of December each year to serve as the basis for establishing risk provisions for the State Bank. The Department of Finance and Accounting shall determine the general provision according to the provisions at clause 3 Article 7 of this Circular.

2. Based on the total specific risk provisions transferred by units under the State Bank and the general provision, the Department of Finance and Accounting shall calculate and record the risk provisions established in the fiscal year according to the following principles:

a) In cases where the additional risk provision required is less than 10% of the difference between income and expenditure excluding the risk provision expense: The risk provision established in the fiscal year shall be equal to the additional risk provision required;

b) In cases where the additional risk provision required is greater than or equal to 10% of the difference between income and expenditure excluding the risk provision expense: The risk provision established in the fiscal year shall be equal to 10% of the difference between income and expenditure excluding the risk provision expense;

c) In cases where the risk provision required is less than the balance of the risk provision prior to establishment: The State Bank shall record according to the provisions at Clause 6 of Article 3 of this Circular.

Section 2. USE OF RISK PROVISIONS TO HANDLE LOSSES

Article 9. Losses to be handled using risk provisions^[15]

After implementing recovery measures without success, the State Bank shall use risk provisions to handle the remaining losses after compensating from the compensation payments of organizations and individuals causing the losses, insurance organizations, and disposing of collateral (if any) arising from the following items:

1. Money and gold deposited with foreign banks, loans and settlements with foreign banks

Losses regarding money and gold deposited with foreign banks, loans and settlements with foreign banks due to force majeure such as war, terrorism, bankruptcy, natural disasters in the country where the State Bank invests or holds assets, and the foreign bank is unable to pay.

2. International financial market securities investment activities

Securities investments on international financial markets suffer losses due to objective reasons such as war, terrorism, natural disasters leading to the State Bank being unable to recover the full book value of the securities, then the State Bank shall use risk provisions to handle the losses.

3. Loan activities

a) Debts (principal and interest) written off pursuant to a decision of the Prime Minister, but not funded by the Government to compensate the State Bank;

b) Debts owed by credit institutions that have clear evidence of being irrecoverable when the credit institution is dissolved (for debts arising before the Law on the State Bank of Vietnam 1997 came into effect), declared bankrupt in accordance with the law.

4. Settlements with the State and the State Budget

The State Bank shall take the lead and coordinate with the Ministry of Finance to report and request the Prime Minister's approval to use risk provisions to handle settlements with the State and the State Budget, including: settlements with the State and the State Budget that are overdue or have no due date and have not been repaid or have not had any measures taken within a minimum period of five years.

5. Debts due from organizations and individuals supported by original documents proving the amount owed by the debtor has not been paid

Debts that may result in losses and are unrecoverable during the operation of the State Bank, for which there is evidence to determine that the debtor organization has been dissolved (for debts arising before the Law on the State Bank of Vietnam 1997 came into effect), declared bankrupt; the debtor individual has died; debts that have been requested to be enforced but cannot be executed due to the debtor being missing or absent from their place of residence. The determination of individuals being absent from their place of residence, declared missing, or deceased shall be carried out in accordance with Articles 64, 68, and 71 of the Civil Code 2015.

6. Losses in settlement, cash reserve management, foreign exchange reserve management, and domestic gold market intervention activities:

a) Losses incurred during settlement activities such as technical network settlement failures, technological issues...;

b) Losses concerning money, gold, precious assets, and negotiable instruments arising during cash reserve operations such as:

- Losses during transportation due to force majeure incidents including accidents, robbery, destruction, natural disasters, fire, war, terrorism;

- Losses of cash, precious assets, and negotiable instruments at transaction locations and vaults due to destruction, robbery, fire, natural disasters, war, terrorism;

c) Losses arising during the management of state foreign exchange reserves and domestic gold market interventions such as losses in gold quality testing, gold devaluation.

Article 10. Legal documents serving as grounds for handling losses

The legal documents serving as grounds for handling losses in the operations of the State Bank include:

1. Documents and materials related to assets that have suffered losses and need to be addressed.

2.^[16] Reports and recommendations from units within the State Bank responsible for managing, monitoring, or where losses occurred.

3. Petitions and Minutes of the Loss Handling Council.

4. In addition to the documents and materials specified in Clauses 1, 2, and 3 of this Article, for each loss, the following additional documents must be supplemented:

a) For debts (principal and/or interest) written off according to the Prime Minister's decision but not covered by the Government's funding to offset: The Prime Minister's Decision on writing off debts for specific debts and borrowers;

b) For payments with the State and the State Budget handled according to the Prime Minister's approval: Directives and approvals by the Prime Minister regarding the handling of payments with the State and the State Budget;

c) For losses arising from securities investment activities in the international financial market: Documentation proving the decline in value of invested securities and evidence showing losses due to objective reasons such as natural disasters, fires, floods, bankruptcy, dissolution... of the issuing entity;

d) For old debts arising before the effective date of the Law on the State Bank of Vietnam 1997:

- For receivables from organizational entities:

+ In cases where the debtor has been dissolved or declared bankrupt: Court decisions declaring bankruptcy under the Bankruptcy Law or decisions by competent authorities regarding dissolution; in cases of self-dissolution, there must be a notification from the organization or confirmation from the authority that established the organization;

+ In cases where the debtor has ceased operations and is unable to pay: Confirmation from the authority issuing the establishment decision or the business registration agency regarding the cessation of operations and inability to pay of the enterprise or organization;

- For receivables from individual entities:

+ A copy of the death certificate or confirmation from local authorities regarding deceased debtors without inheritable assets to repay the debt;

+ Confirmation from local authorities regarding living debtors or those missing who are unable to repay the debt;

+ Warrants for arrest or confirmation from law enforcement agencies regarding debtors who have fled or are being prosecuted, serving sentences, or confirmation from local authorities regarding the inability of debtors to pay;

5. Legal documents may also include other written evidence if such evidence can prove or clarify the extent of asset losses.

6.^[17] Documents and materials proving that the State Bank has taken measures to recover debts but was unsuccessful.

Article 11. Procedure for Handling Losses

The procedure for handling losses occurring during the operations of the State Bank shall be carried out as follows:

1. The head of the unit within the State Bank where losses have occurred in operations shall direct relevant departments to explain, provide statements, prepare minutes, propose loss handling measures (accompanied by copies of loss-related documents confirmed by the unit) and submit them to the Financial and Accounting Department.

2. The Financial and Accounting Department shall act as the focal point for receiving documents and materials related to losses submitted by units within the State Bank, conduct reviews, compile the original status of documents, and seek opinions from units with members of the Loss Handling Council as stipulated in Clause 2 of Article 12 of this Circular.

3. The Financial and Accounting Department shall review and issue a document requesting the Personnel and Organization Department to present to the Governor of the State Bank for the establishment of the Loss Handling Council as stipulated in Article 12. This Circular.

4.^[18] Based on the related documents and materials as prescribed in Article 10 of this Circular, the opinion of the Department of Finance - Accounting, the opinion of relevant units, the Loss Handling Council analyzes, evaluates, proposes solutions, and submits to the Governor of the State Bank for comments from the Ministry of Finance. After reaching agreement with the Ministry of Finance, the Governor of the State Bank considers and decides on the use of the risk reserve fund to handle each loss.

For losses at point a, Clause 3, Article 9 and payments to the State and the State Budget at Clause 4 Article 9 of this Circular without a Prime Minister's approval document allowing the State Bank to use the risk reserve fund to handle them, the Loss Handling Council must report and submit to the Governor of the State Bank for comments from the Ministry of Finance and submit to the Prime Minister for examination and approval before handling. After the Prime Minister's approval, the Governor of the State Bank issues a decision to use the risk reserve fund to handle each loss.

5. Based on the Governor's Decision on the use of the risk reserve fund to handle losses, the Department of Finance - Accounting will coordinate with relevant units to implement accounting and management of losses after they have been approved according to the provisions of Article 14 of this Circular.

Article 12. Composition of the Loss Handling Council

1. Chairman of the Council: One Deputy Governor of the State Bank.

2.^[19] Members of the Council include the Inspector General or Deputy Inspector General of the State Bank, Department Heads or Deputy Department Heads, Bureau Chiefs or Deputy Bureau Chiefs of the following units under the State Bank:

a) Department of Finance - Accounting: Vice-Chairman in charge.

b) Department of Monetary Policy;

c) Department of Credit for Economic Sectors;

d) Legal Affairs Department;

e) Organization and Cadre Department;

f) Issuance and Treasury Bureau;

g) Relevant units related to the loss as proposed by the Department of Finance - Accounting.

3. The Department of Finance - Accounting shall perform the function of assisting the Loss Handling Council when necessary. The Chairman of the Loss Handling Council decides to summon some staff from Departments, Bureaus, and units under the State Bank related to the Loss Handling Council upon the proposal of the Department of Finance - Accounting.

Article 13. Tasks of the Loss Handling Council

1. Implement tasks as prescribed in Clause 4, Article 11 of this Circular.

2. Inspect the implementation of handling losses in the operations of the State Bank after having received the handling decision from the competent authority.

3. Handle other contents related to the use of the risk reserve fund of the State Bank.

Article 14. Management of losses after being handled

1.^[20] Units that cause losses must not inform the debt collection targets and continue to monitor and recover (if possible).

2.^[21] Files for losses that have been handled using the risk reserve fund must be stored according to the law, including both the loss handling file and all documents proving that the unit head has implemented all measures to recover but was unable to do so.

3. Any amount recovered from losses that have been handled using the risk reserve fund, units under the State Bank shall record it as income at their unit and report back to the State Bank (Department of Finance - Accounting).

Chapter III. IMPLEMENTATION ORGANIZATION

 

Article 15. Responsibilities of Units under the State Bank

1. The Financial and Accounting Department shall guide units under the State Bank on how to collect data for calculation and provision for risk reserves as prescribed in this Circular.

2.^[22] The Information Technology Department shall develop software to support the classification of risky assets and determination of the amount of risk provisions to be established as prescribed in this Circular.

Article 16. Transitional Provisions

The balance of the risk reserve account established from the date of the Government's Decree No. 100/1998/NĐ-CP dated December 10, 1998 shall be transferred to the opening balance of the risk reserve account established under this Circular for continued use as prescribed.

Article 17. Effective Date^{[23],[24],[25]}

1. This Circular takes effect from June 1, 2014.

2. Decision No. 41/2007/QĐ-NHNN dated November 6, 2007 of the Governor of the State Bank promulgating regulations on the establishment, management, and utilization of risk reserve accounts of the State Bank shall cease to be effective from the date this Circular takes effect.

Article 18. Implementation Organization ^[26]

Heads of units under the State Bank are responsible for organizing the implementation of this Circular /.

 

STATE BANK OF VIETNAM VIETNAM _____________ Number: 17/VBHN-NHNN

CERTIFIED CONSOLIDATED DOCUMENT   Hanoi, January 16, 2026   DIRECTOR DEPUTY DIRECTOR Doan Thai Son