Circular No. 70/2025/TT-NHNN Amending and Supplementing Certain Provisions of Legal Documents on Accounting Issued by the Governor of the State Bank of Vietnam

CIRCULAR

AMENDING AND COMPLETING CERTAIN PROVISIONS OF LEGAL DOCUMENTS IN THE ACCOUNTING FIELD ISSUED BY THE GOVERNOR OF THE STATE BANK OF VIETNAM

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

Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;;

Pursuant to the Accounting Law No. 88/2015/QH13 amended and supplemented by Law No. 56/2024/QH15;

Pursuant to the Law on Electronic Transactions No. 20/2023/QH15;

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;

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

The Governor of the State Bank of Vietnam promulgates this Circular amending and completing certain provisions of legal documents in the accounting field issued by the Governor of the State Bank of Vietnam.

PART I

AMENDING AND COMPLETING CERTAIN PROVISIONS OF THE CIRCULAR ON DETERMINATION, ESTABLISHMENT, MANAGEMENT, AND USE OF THE BAD DEBT RESERVE FUNDS OF THE STATE BANK OF VIETNAM

Article 1. Amending and completing Clause 3 of Article 1

"3. This Circular applies to units under the State Bank of Vietnam and individuals and organizations related to the determination, establishment, management, and use of bad debt reserve funds of the State Bank of Vietnam."

Article 2. Amending and completing Clause 2 of Article 12

"2. Members of the Council include the Chief Inspector or Deputy Chief Inspector of the State Bank of Vietnam, Department Heads or Deputy Department Heads, Bureau Chiefs or Deputy Bureau Chiefs of the following units under the State Bank of Vietnam:

a) Department of Finance - Accounting: Deputy Chairman;

b) Department of Monetary Policy;

c) Department of Credit for Economic Sectors;

d) Department of Legal Affairs;

đ) Department of Organization and Cadres;

e) Currency Issuance and Treasury Bureau;

g) Units related to loss items at the proposal of the Department of Finance - Accounting."

Article 3. Amending and completing Article 18

"Article 18. Responsibility for Implementation

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

Chapter II

AMENDING AND COMPLETING CERTAIN PROVISIONS OF DECISION NO. 479/2004/QĐ-NHNN ON THE ISSUE OF THE ACCOUNTING SYSTEM FOR CREDIT ORGANIZATIONS

Article 4. Amending and completing Article 3

"Article 3. Heads of units under the State Bank of Vietnam, credit organizations, and foreign bank branches are responsible for organizing the implementation of this Decision."

Article 5. Completing Point 6.3 Clause 6 Section I Accounting System for Credit Organizations issued together with Decision No. 479/2004/QĐ-NHNN

"6.3. The recording on the accounting accounts of credit organizations shall be carried out according to the provisions of this Decision and the guiding documents of the State Bank of Vietnam regarding some special economic transactions of credit organizations. For transactions not covered by this Decision and the guiding documents of the State Bank of Vietnam, credit organizations shall base their actions on the nature and content of the economic transactions arising, the Accounting Law, guiding documents of the Accounting Law, Vietnamese Accounting Standards, and current laws guiding accounting principles applicable to enterprises."

Chapter III

AMENDING AND COMPLETING CERTAIN PROVISIONS OF DECISION NO. 1789/2005/QĐ-NHNN ON THE ISSUE OF THE ACCOUNTING DOCUMENT REGIME FOR BANKS 

Article 6. Amending and completing Article 3

"Article 3. Heads of units under the State Bank of Vietnam, credit organizations, and foreign bank branches are responsible for organizing the implementation of this Decision."

Article 7. Amending and completing Point d Clause 1 Article 8 Accounting Document Regime for Banks issued together with Decision No. 1789/2005/QĐ-NHNN

"d) Electronic documents must have electronic signatures or other forms of electronic confirmation as prescribed by law." 

Chapter IV

IMPLEMENTING PROVISIONS 

Article 8. Implementation Provisions

This Circular takes effect from January 1, 2026.

Article 9. Responsibility for Implementation

Heads of units under the State Bank of Vietnam Vietnam; organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.GOVERNOR/.