Circular No. 43/2011/TT-NHNN on the retention period for records and archival documents in the banking industry

CIRCULAR

Regulations on the Retention Period for Archival Files and Documents in the Banking Sector

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

Pursuant to the Law on Credit Organizations No. 47/2010/QH12 dated June 16, 2010;

Pursuant to the National Archives Law No. 34/2001/PL-UBTVQH10 dated April 4, 2001;

Pursuant to the Government Decree No. 111/2004/NĐ-CP dated April 8, 2004 detailing certain provisions of the National Archives Law;

Pursuant to Decree No. 96/2008/NĐ-CP dated August 26, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

The State Bank of Vietnam hereby stipulates the retention period for archival files and documents in the banking sector as follows:

Article 1. Scope of Regulation

Article 1. This Circular stipulates the retention period for archival files and documents generated in the activities of units within the banking sector.

Article 2. The archival files and documents specified in Clause 1 of this Article, if recorded on media such as magnetic tapes, disks, payment cards, electronic vouchers, and converted to paper with sufficient legal elements according to the regulations of the State and the State Bank of Vietnam, shall be subject to the retention periods set forth in this Circular.

Article 3. Archival files and documents in the form of electronic data are not within the scope of regulation of this Circular.

Article 2. Applicability

This Circular applies to units under the organizational structure of the State Bank of Vietnam (SBV), credit institutions (CIs), foreign bank branches, representative offices of foreign credit institutions, other foreign organizations engaged in banking activities, Party organizations, Trade Union organizations, Youth Union organizations (hereinafter referred to as units).

Article 3. Principles for Determining the Retention Period

The retention period for archival files and documents is determined based on a comprehensive and accurate analysis and evaluation of their practical and historical value to the unit, the sector, and the country. The retention period for each file is determined based on the most valuable document within that file.

Article 4. Retention Period for Archival Files and Documents

Clause 1. The retention period for archival files and documents is the necessary time required to retain the files and documents from the year the work is completed.

Clause 2. The retention period for each archival file and document is defined at two levels: Permanent retention and limited-term retention specified by a specific number of years, as follows:

Point a. Permanent retention: These are files and documents retained permanently until they self-destruct or cannot be restored; applicable to important files and documents reflecting clearly the functions and tasks, serving long-term research for the operation of the agency or unit; having economic, political, and historical value.

Point b. Limited-term retention: These are files and documents not falling under the circumstances specified in point a of Clause 2 of this Article.

Article 5. Table of Retention Periods for Archival Files and Documents

Clause 1. The table of retention periods for archival files and documents is a list of groups of files and documents indicating the retention periods.

Clause 2. The retention periods for archival files and documents in the banking sector are specifically defined in the table of retention periods for archival files and documents attached to this Circular (referred to as the Table of Retention Periods, Files, and Documents).

Clause 3. Archival files and documents listed in the Table of Retention Periods are classified according to activities and issues, with independent serial numbers, specific names corresponding to the retention periods prescribed, including:

Item 1. Comprehensive files and documents;

Item 2. Files and documents on banking development strategies;

Item 3. Files and documents on monetary policy;

Item 4. Files and documents on monetary forecasting and statistics;

Item 5. Files and documents on credit;

Item 6. Files and documents on risk management;

Item 7. Files and documents on investor relations;

Item 8. Files and documents on foreign exchange;

Item 9. Files and documents on international cooperation;

Item 10. Files and documents on the establishment, operation, and liquidation of credit institutions;

Item 11. Files and documents on inspection and supervision;

Item 12. Files and documents on auditing;

Item 13. Files and documents on anti-money laundering activities;

Item 14. Files and documents on payment operations;

Item 15. Files and documents on financial accounting;

Item 16. Files and documents on issuance and cash reserves;

Item 17. Files and documents on science and technology;

Item 18. Files and documents on organization, personnel, training;

Item 19. Files and documents on commendation and reward activities;

Item 20. Files and documents on legal affairs;

Item 21. Files and documents on construction investment;

Item 22. Files and documents on propaganda and press activities;

Item 23. Files and documents on management activities;

Item 24. Files and documents on administrative, clerical, and archival activities;

Item 25. Files and documents on the activities of Party organizations, Trade Union organizations, Youth Union organizations.

Article 6. Using the Preservation Period Table

The Preservation Period Table for archival records and documents serves as the basis for accurately and scientifically determining the value of records and documents, ensuring consistency.

1. Determining the value of documents must meet the following requirements:

a) The level of preservation period determined for each specific record or document shall not be lower than the level prescribed in this Circular.

b) When selecting documents to transfer to Historical Archives, the completeness of the group (collection) of documents must be considered, while also taking into account historical phases and periods to potentially increase the preservation period of the documents above the prescribed level.

c) For archival records and documents that have exceeded their preservation period, a list must be prepared and submitted to the Document Value Determination Council of the agency for review and re-evaluation, and then submitted to the Head of the Unit to decide whether to extend the preservation period or destroy them.

2. In cases where there are archival records and documents not specified in this Preservation Period Table, the Head of the Unit shall base on this Circular to specify the preservation periods according to corresponding groups of archival records and documents in the Table to determine their value.

Article 7. Implementation Provisions

1. This Circular takes effect from February 3, 2012; Circular No. 20/2009/TT-NHNN dated September 7, 2009 of the State Bank of Vietnam regarding the preservation period of records and documents in the banking sector ceases to be effective from the date this Circular takes effect.

2. Heads of units under the State Bank of Vietnam, Chairmen of Management Boards (Board Members), and General Directors (Directors) of Credit Organizations, foreign bank branches, representative offices of foreign credit organizations, and other foreign organizations engaged in banking activities, as well as leaders of Party organizations, Trade Union, Youth League are responsible for guiding and implementing this Circular.

3. The Director of the State Bank of Vietnam's Office is responsible for guiding and supervising the implementation of this Circular by units within the banking sector, and annually reporting to the Governor on the implementation status of these units./.