Decision No. 23/2007/QD-NHNN promulgates regulations on the banking code system used in banking operations and transactions. 23/2007/QĐ-NHNN

✦ Smart summary

Decision No. 23/2007/QD-NHNN promulgates regulations on the banking code system used in banking operations and transactions, replacing Decision No. 02/2006/QD-NHNN. This decision takes effect from January 1, 2008, and abolishes certain provisions related to reporting unit codes.

Scope of application

State Bank, credit institutions, National Treasury, and other organizations engaged in banking activities.

Key points

The State Bank → promulgates regulations on the banking code system used in banking operations and transactions.
Credit institutions, National Treasury, and other organizations engaged in banking activities → must implement this Decision from January 1, 2008.

🌐 Social impact of this document

Positive: Helps improve management, supervision, and payment efficiency in the banking system.
Negative: Requires time for credit institutions to adjust their operations according to new regulations.

❓ Frequently asked questions

When does this Decision take effect?

Decision No. 23/2007/QD-NHNN takes effect from January 1, 2008.

What must credit institutions do to comply with this Decision?

Credit institutions must implement this Decision from January 1, 2008, and simultaneously adjust their operations according to the new regulations on the banking code system.

Which regulation does this Decision replace and abolish?

This Decision replaces Decision No. 02/2006/QD-NHNN and abolishes the provisions on reporting unit codes issued under Clause 4, Article 16 of the Reporting and Statistical Regulations applicable to State Bank units and credit institutions.

Which organizations are responsible for implementing this Decision?

The Director of the Office, the Director of the Banking Information Technology Department, the Heads of State Bank units, the Governors of State Bank branches in provinces and centrally-administered cities; the Chairmen of Management Boards, General Managers (Directors) of credit institutions, National Treasury, and other organizations engaged in banking activities are responsible for implementing this Decision.

Until when is the effectiveness of this Decision?

The expiration date of the decisions amending, supplementing, and abolishing the banking codes issued together with Decision No. 02/2006/QD-NHNN dated January 18, 2006, of the Governor of the State Bank regarding the banking codes used in settlement transactions through the State Bank is January 1, 2008.

Full text

Pursuant to …;

Enactment of regulations on the banking code system used in operations,

banking transactions

__________________________

GOVERNOR OF THE STATE BANK OF VIETNAM

Based on the Law on the State Bank of Vietnam 1997 and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;

Based on the Law on Credit Organizations 1997 and the Law Amending and Supplementing Certain Provisions of the Law on Credit Organizations 2004;

Pursuant to Decree No. 52/2003/ND-CP dated May 19, 2003, issued by the Government, detailing the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the State Bank of Vietnam's Information Technology Department.

DECISION:

Article 1. This Decision promulgates regulations on the banking code system used in operations, banking transactions.

Article 2. This Decision takes effect from January 1, 2008, replacing Decision No. 02/2006/QĐ-NHNN dated January 18, 2006, issued by the Governor of the State Bank of Vietnam on regulations on the banking code system used in payment transactions through the State Bank of Vietnam, and abolishes the provision on issuing reporting units' codes stipulated in Clause 4, Article 16 of the Reporting and Statistics System applicable to State Bank of Vietnam units and credit organizations, as promulgated together with Decision No. 477/2004/QĐ-NHNN dated April 28, 2004, issued by the Governor of the State Bank of Vietnam.

Decisions amending, supplementing, and abolishing banking codes promulgated together with Decision No. 02/2006/QĐ-NHNN dated January 18, 2006, issued by the Governor of the State Bank of Vietnam on regulations on banking codes used in payment transactions through the State Bank of Vietnam cease to be effective from January 1, 2008.

Article 3. The Heads of the Office, the Director of the State Bank of Vietnam's Information Technology Department, the Heads of State Bank of Vietnam units, the Governors of the State Bank of Vietnam branches in provinces and centrally administered cities, the Chairmen of the Management Boards, General Directors (Directors) of credit organizations, National Treasury, and other entities engaged in banking activities are responsible for implementing this Decision./.

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