Circular No. 23/2025/TT-NHNN amending and supplementing certain Articles of Circular No. 30/2019/TT-NHNN dated December 27, 2019, issued by the Governor of the State Bank of Vietnam on the implementation of mandatory reserves by credit institutions and foreign bank branches.

CIRCULAR

Amending and supplementing certain Articles of Circular No. 30/2019/TT-NHNN dated December 27, 2019 issued by the Governor of the State Bank of Vietnam on the implementation of mandatory reserves by credit institutions

and foreign bank branches.

Pursuant to Decree No. 26/2025/NĐ-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam

  foreign bank branches

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

The Governor of the State Bank of Vietnam hereby promulgates this Circular amending and supplementing certain provisions of Circular No. 16/2021/TT-NHNN dated November 10, 2021 issued by the Governor of the State Bank of Vietnam on the organization of credit institutions and foreign bank branches purchasing and selling corporate bonds.

The Governor of the State Bank of Vietnam hereby issues this Circular amending and supplementing certain Articles of Circular No. 30/2019/TT-NHNN dated December 27, 2019 issued by the Governor of the State Bank of Vietnam on the implementation of mandatory reserves by credit institutions and foreign bank branches.;

Article 1.

Article 1. Amending and supplementing certain Clauses of Article 3 of Circular No. 30/2019/TT-NHNN

Supplement Clause 4 to Article 3 as follows:

"4. Policy banks."
Article 2. Amending and supplementing Article 7 of Circular No. 30/2019/TT-NHNN

Amending and supplementing Article 7 as follows:

"Article 7. Reduction of the mandatory reserve ratio

1. Credit institutions supporting organizations specified in Clause 39, Article 4 of the Law on Credit Institutions (hereinafter referred to as credit institutions supporting) shall be entitled to a reduction of 50% of the mandatory reserve ratio according to the recovery plan for supervised credit institutions that has been approved by the competent authority (hereinafter referred to as the approved recovery plan).

2. Credit institutions receiving compulsory transfer of commercial banks under supervision as stipulated in the Law on Credit Institutions (hereinafter referred to as credit institutions receiving transfer) shall be entitled to a reduction of 50% of the mandatory reserve ratio according to the compulsory transfer plan for supervised commercial banks that has been approved by the competent authority (hereinafter referred to as the approved compulsory transfer plan).

3. The level of reduction of the mandatory reserve ratio for each credit institution specified in Clauses 1 and 2 of this Article shall be based on the mandatory reserve ratio for such credit institution stipulated in Clause 1, Article 6 of this Circular and shall apply to all types of deposits subject to mandatory reserves."

Article 3. Amending and supplementing certain Points and Clauses of Article 9 of Circular No. 30/2019/TT-NHNN

Replacing the phrase "State Bank of Vietnam branch at provincial and centrally governed city levels" with the phrase "State Bank of Vietnam Regional Branch" in Point a, Clause 2 of Article 9.

Article 4. Amending and supplementing certain Clauses of Article 12 of Circular No. 30/2019/TT-NHNN

1. Replacing the phrase "State Bank of Vietnam branch at provincial and centrally governed city levels" with the phrase "State Bank of Vietnam Regional Branch" in the title of Article 12.

2. Replacing the phrase "State Bank of Vietnam branch at provincial and centrally governed city levels (hereinafter referred to as State Bank of Vietnam branch)" with the phrase "State Bank of Vietnam Regional Branch" in Clause 1 of Article 12.

3. Replacing the phrase "State Bank of Vietnam branch" with the phrase "State Bank of Vietnam Regional Branch" in Clauses 2 and 3 of Article 12.

4. Amending and supplementing Clause 4 of Article 12 as follows:

"4. Based on the content of the reduction of the mandatory reserve ratio for credit institutions supporting (if any) in the approved recovery plan according to the provisions, the State Bank of Vietnam Regional Branch shall send a document to the State Bank of Vietnam Trading Department and the Monetary Policy Department regarding the reduction of the mandatory reserve ratio for credit institutions supporting, specifying the name of the credit institution supporting, the month of application commencement, and the duration of the reduction of the mandatory reserve ratio."

5. Amending and supplementing Clause 5 of Article 12 as follows:

"5. Handling violations, recommending handling within the scope of authority for credit institutions lacking mandatory reserves, reporting to the Governor of the State Bank of Vietnam, and sending copies to the Monetary Policy Department, the Credit Institution Management and Supervision Department, the State Bank of Vietnam Inspection Department, and the State Bank of Vietnam Trading Department regarding decisions on handling credit institutions lacking mandatory reserves."

"5. Handle violations, recommend handling within the authority for credit institutions that fail to maintain the required reserve, report to the Governor of the State Bank, and send copies to the Department of Monetary Policy, the Credit Institution Supervision Department, the State Bank Inspectorate, and the State Bank Trading Office regarding decisions on handling credit institutions that fail to maintain the required reserve."

Article 5. Amend and supplement some points and clauses of Article 13 of Circular No. 30/2019/TT-NHNN

1. Amend and supplement Point d Clause 1 of Article 13 as follows:

"d) Within ten working days at the beginning of each month, compile the situation of compliance with the mandatory reserve requirement for the previous month's maintenance period of credit institutions, report to the Governor of the State Bank of Vietnam and simultaneously send to the Credit Institution Management and Supervision Department and the Monetary Policy Department according to the DTBB003 Form attached to this Circular, and send to the State Bank of Vietnam Branch Region the list of credit institutions lacking the mandatory reserve requirement (specifically the amount of mandatory reserve required, actual reserve, and the amount of shortfall of each credit institution) whose main office or branch (for foreign bank branches) is located within the region."

2. Amend and supplement Clause 4 of Article 13 as follows:

"4. Based on the documents of the State Bank of Vietnam Branch Region and the Credit Institution Management and Supervision Department under Clause 4 of Article 12 and Clause 1 of Article 16 of this Circular, the State Bank of Vietnam Trading Department shall perform:

a) Determine and notify the amount of mandatory reserve required and carry out other tasks prescribed in Clause 1 of this Article for supporting credit institutions and credit institutions receiving transfers;

b) Within ten working days at the beginning of the mandatory reserve maintenance period starting from the reduction of the mandatory reserve ratio, issue a document notifying the application of the reduced mandatory reserve ratio (specify the mandatory reserve maintenance period starting from the reduction, the duration of application) to the following organizations and units: credit institutions eligible for a reduced mandatory reserve ratio; the Credit Institution Management and Supervision Department; the Monetary Policy Department; the State Bank of Vietnam Branch Region where the document stipulated in Clause 4 of Article 12 of this Circular has been sent to the State Bank of Vietnam Trading Department; the State Bank of Vietnam Branch Region where the main office of the credit institution eligible for a reduced mandatory reserve ratio is located."

Article 6. Amend and supplement some clauses of Article 14 of Circular No. 30/2019/TT-NHNN

Replace the phrase "State Bank of Vietnam Branch" with the phrase "State Bank of Vietnam Branch Region" in Clause 1 of Article 14.

Article 7. Amend and supplement Article 16 of Circular No. 30/2019/TT-NHNN

Amend and supplement Article 16 as follows:

"Article 16. Responsibilities of the Credit Institution Management and Supervision Department

1. Based on the content of the reduced mandatory reserve ratio for supporting credit institutions and credit institutions receiving transfers (if applicable) in the recovery plan that has been approved (excluding the recovery plan approved by the Director of the State Bank of Vietnam Branch Region in accordance with regulations), the compulsory transfer plan that has been approved, the Credit Institution Management and Supervision Department shall send a document to the State Bank of Vietnam Trading Department and the Monetary Policy Department regarding the reduced mandatory reserve ratio for supporting credit institutions and credit institutions receiving transfers, specifying the name of the supporting credit institution, the name of the credit institution receiving transfers, the month of commencement and the duration of the reduced mandatory reserve ratio application.

2. Send to the State Bank of Vietnam Trading Department the documents and decisions of the State Bank of Vietnam on special control, termination of special control, dissolution, and revocation of the license of credit institutions within three working days from the date the State Bank of Vietnam issues these documents and decisions, except for those issued by the State Bank of Vietnam Branch Region.

3. Monitor and handle within its authority, or propose recommendations to competent authorities to implement measures as prescribed by law for credit institutions in complying with the provisions of this Circular."

Article 8. Supplement Article 16a following Article 16 of Circular No. 30/2019/TT-NHNN

Supplement Article 16a following Article 16 as follows:

"Article 16a. Responsibilities of the State Bank of Vietnam Inspectorate

Inspect, handle violations, and recommend competent authorities to handle violations by credit institutions in maintaining the required reserve ratio and complying with other provisions of this Circular."

Article 9. Amend and supplement the Appendix on Guidelines for Calculating Required Reserves, Actual Reserves, and Determining Excess or Shortfall of Required Reserves

Replace the phrase "State Bank of Vietnam Branch" with the phrase "State Bank of Vietnam Regional Branch" in the Appendix on Guidelines for Calculating Required Reserves, Actual Reserves, and Determining Excess or Shortfall of Required Reserves.

Article 10. Amend and supplement Form DTBB003 on Consolidated Report on Compliance with Required Reserves of Credit Institutions

Replace the phrase "Bank Inspection and Supervision Authority" with the phrase "Credit Institution Management and Supervision Department" in Form DTBB003 on Consolidated Report on Compliance with Required Reserves of Credit Institutions.

Article 11. Responsibility for organizing implementation

Heads of units under the State Bank of Vietnam, credit institutions, and foreign bank branches shall be responsible for implementing this Circular.

Article 12. Implementation Provisions

This Circular takes effect from October 1, 2025./.