Circular No. 19/2021/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 transfer, storage, and transportation of cash, precious assets, and securities.

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

regarding the handover, storage, and transportation

of cash, precious assets, and securities

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 of Vietnam system, credit institutions, and foreign bank branches; 

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

The Governor of the State Bank of Vietnam hereby promulgates this 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 regarding the handover, storage, and transportation of cash, precious assets, and securities.

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;

Article 1. 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 regarding the handover, storage, and transportation of cash, precious assets, and securities

1. Amending and supplementing Clause 1 of Article 11 as follows:

"1. Handover of cash in bundles of 10 sealed stacks or sealed bags in the following cases:

a) Handover of cash within the Internal Exchange Department, State Bank of Vietnam branch for cash that has been in circulation, except for the cases specified in point c and g of Clause 2 of this Article;

b) Handover of cash with denominations of 50,000 VND or higher according to transfer orders between the Central Cash Vault and the Internal Exchange Department, State Bank of Vietnam branch and vice versa; between Central Cash Vaults; between State Bank of Vietnam branches, except for the cases specified in point d of Clause 2 of this Article;

c) Handover of cash between the Internal Exchange Department, State Bank of Vietnam branch and credit institutions, foreign bank branches and vice versa; between credit institutions, foreign bank branches within the province/city;"

"d) Handover of cash with denominations of 20,000 VND or lower according to transfer orders between the Central Cash Vault and the Internal Exchange Department, State Bank of Vietnam branch and vice versa; between Central Cash Vaults; between State Bank of Vietnam branches;

e) Handover of cash with a denomination of 50,000 VND according to transfer orders between the Central Cash Vault and the State Bank of Vietnam branch in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces and vice versa; between Central Cash Vaults; between State Bank of Vietnam branches in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces;

f) Handover of cash within the State Bank of Vietnam branch in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces when implementing transfer orders."

e) Handover of cash within the Central Treasury;

a) The Internal Exchange Department, State Bank of Vietnam branch (except for the State Bank of Vietnam branch in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces which shall comply with the provisions of point b of this Clause) must establish a Counting Committee in accordance with Clause 3 of Article 62 of this Circular when organizing the counting of received cash. The counting period is 30 working days from the date of receipt. The transferring party must send a witness; if no witness is sent, the transferring party must notify the receiving party in writing.

"1. Counting cash handed over according to the transfer order of the State Bank of Vietnam for circulated money:

The Director of the Currency Issuance and Treasury Management Department may consider and decide to extend the time for counting cash according to transfer orders in cases due to objective reasons upon the request of the Internal Exchange Department, State Bank of Vietnam branch;

b) The State Bank of Vietnam branch in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces must organize the counting of cash used for disbursing to credit institutions, foreign bank branches within the province/city. The Counting Committee shall be established in accordance with Clause 3 of Article 62 of this Circular and shall be responsible for supervising asset safety;

c) For cash not organized for counting, the Internal Exchange Department, State Bank of Vietnam branch may hand over sealed bundles/bags of cash to credit institutions, foreign bank branches within the same province/city and must send a witness when the credit institution, foreign bank branch organizes the counting."

4. Amending and supplementing point b of Clause 2 of Article 26 as follows:

"b) At other locations of Cash Vault I, the Director of the Currency Issuance and Treasury Management Department may authorize in writing a Deputy Director or Head of Cash Vault I to perform tasks managing cash, precious assets, securities, and the vault for a specific period of time. In case the authorized person is absent, the Director of the Currency Issuance and Treasury Management Department may authorize in writing another Deputy Director or a Deputy Head of Cash Vault I;"

"1. The Currency Issuance and Treasury Management Department is responsible for organizing the transportation of cash, precious assets, and securities from printing/denomination facilities, airports, ports, railway stations to the Central Cash Vault; between Central Cash Vaults; from the Central Cash Vault to the Cash Vault of the Internal Exchange Department, various State Bank of Vietnam branch cash vaults and vice versa; between various State Bank of Vietnam branch cash vaults.

If necessary, the Internal Exchange Department, State Bank of Vietnam branch may dispatch personnel to escort and handover/receive cash, precious assets, and securities at the Central Cash Vault or another State Bank of Vietnam branch.

The State Bank of Vietnam branch in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces is responsible for organizing the transportation of cash, precious assets, and securities between the branch in Phu Tho, Nghe An, Binh Dinh, Vinh Long provinces and the Central Cash Vault; between State Bank of Vietnam branches in provinces/cities in the region (as decided by the Governor of the State Bank of Vietnam during each period)."

The Chief of the Office, Director of the Currency Issuance and Treasury Management Department, Heads of units under the State Bank of Vietnam, Governors of State Bank of Vietnam branches in provinces/cities, credit institutions, foreign bank branches are responsible for implementing this Circular.

Article 2. Responsibility for Implementation

1. This Circular takes effect from January 8, 2022.

Article 3. Implementation Provisions

2. This Circular abolishes Clause 1, Clause 2 of Article 1 of Circular No. 12/2017/TT-NHNN dated August 31, 2017 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 regarding the handover, storage, and transportation of cash, precious assets, and securities./.

This Circular abolishes Clause 1, Clause 2 of Article 1 of Circular No. 12/2017/TT-NHNN dated August 31, 2017 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 on the handover, storage, and transportation of cash, precious assets, and securities./.