Circular No. 82/2025/TT-NHNN stipulates the status of gold of credit institutions

CIRCULAR

REGULATIONS ON THE GOLD STATUS OF CREDIT ORGANIZATIONS

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

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

Pursuant to Decree No. 24/2012/NĐ-CP of the Government on gold business management, amended and supplemented by Decree No. 232/2025/NĐ-CP;

At the proposal of the Director of the Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam promulgates this Circular on the gold status of credit organizations.

PART I
GENERAL PROVISIONS

Article 1. Scope of Regulation and Applicability

Article 1. This Circular stipulates the gold status of credit organizations permitted to produce gold bars and engage in buying and selling gold bars.

Article 2. Gold bar buying and selling activities, gold raw material buying and selling activities regulated herein only include spot transactions of gold bars and gold raw materials.

Article 2. Interpretation of Terms

In this Circular, the following terms shall be understood as follows:

Point 1. Credit organization permitted to produce gold bars and engage in buying and selling gold bars refers to a credit organization that has been granted a Gold Bar Production License and a Gold Bar Buying and Selling License by the State Bank of Vietnam (hereinafter referred to as the State Bank).

Point 2. The gold status of a credit organization is the balance of gold bars and gold raw materials arising from the following activities: gold bar production; gold bar buying and selling; gold raw material buying and selling; gold bar export and import; gold raw material import of credit organizations converted into Vietnamese dong according to the gold status conversion price.

Point 3. Spot gold bar buying and selling transactions; spot gold raw material buying and selling transactions refer to transactions where both parties buy and sell a certain amount of gold bars and gold raw materials at the agreed price at the time of transaction and complete payment, delivery, and receipt of gold bars and gold raw materials within two (2) working days thereafter.

Point 4. The gold status conversion price is the purchase price of gold bars and gold raw materials corresponding to each type of gold bars and gold raw materials announced by the credit organization at the end of the reporting day.

In case there is no transaction with gold raw materials on the reporting day, the gold status conversion price for gold raw materials is the purchase price of gold raw materials announced by the credit organization at the end of the nearest working day before the reporting day on which a transaction occurred.

Article 3. Principles for Calculating the Gold Status

Clause 1. The gold status of a credit organization is determined at the end of the working day.

Clause 2. The gold status of a credit organization is calculated based on:

Subpoint a) The volume of gold bars produced; the volume of gold raw materials used to produce gold bars, including any gold raw material loss during production (if any);

Subpoint b) The turnover of spot gold bar buying and selling, gold raw material buying and selling, including any commitments for spot gold bar buying and selling;

Subpoint c) The turnover of gold bar export, gold bar import, gold raw material import, including any commitments for gold bar export, gold bar import, gold raw material import.

Clause 3. The gold status of a credit organization does not include the balance of gold bars arising from the activities of buying and selling gold to settle balances of activities that have occurred before January 10, 2013, including:

Subpoint a) Mobilization and lending in accordance with Circular No. 11/2011/TT-NHNN on terminating mobilization and lending in gold by credit organizations, amended and supplemented by Circular No. 32/2011/TT-NHNN and Circular No. 12/2012/TT-NHNN;

Subpoint b) Converting gold into Vietnamese dong in accordance with Circular No. 32/2011/TT-NHNN amending and supplementing some provisions of Circular No. 11/2011/TT-NHNN dated April 29, 2011 of the State Bank of Vietnam on terminating mobilization and lending in gold by credit organizations;

Subpoint c) Accepting gold pledges, holding gold custody, and using gold for other purposes.

Article 4. Limits on the Gold Status

Clause 1. The end-of-day gold status of a credit organization:

Subpoint a) Shall not exceed 5% of the credit organization's own capital for credit organizations permitted to produce gold bars;

Subpoint b) Shall not exceed 2% of the credit organization's own capital for credit organizations permitted to engage in buying and selling gold bars, except for those credit organizations specified in subpoint a of this clause.

Clause 2. The own capital for calculating the limit on the gold status of a credit organization is the own capital of the month immediately preceding the reporting period of the credit organization, determined in accordance with the State Bank's regulations on safety ratios in credit organization operations.

Clause 3. A credit organization shall not maintain a negative gold status.

Clause 4. In cases of necessity, a credit organization may maintain a gold status exceeding the limits prescribed in Clauses 1, 2, and 3 of this Article upon approval by the Governor of the State Bank of Vietnam.

Article 5. Reporting System

By no later than 14:00 on the working day, credit organizations shall submit the report on the status of gold for the immediately preceding working day to the State Bank of Vietnam (Department of Foreign Exchange Management) in accordance with the Appendix issued together with this Circular.

Article 6. Responsibilities of Units under the State Bank of Vietnam

1. The Department of Information Technology, within its functions and tasks, shall be responsible for guiding credit organizations to implement the reporting of the status of gold when reporting electronically.

2. The Inspectorate of the State Bank of Vietnam shall cooperate with the State Bank of Vietnam Branches in Regions to inspect the implementation of the provisions of this Circular and handle violations within the scope of their functions and tasks.

3. The Department of Management and Supervision of Credit Organizations shall cooperate with the State Bank of Vietnam Branches in Regions to supervise the implementation of the provisions of this Circular and handle violations within the scope of their functions and tasks.

Article 7. Implementation Provisions

1. This Circular shall take effect from February 12, 2026.

2. This Circular replaces Circular No. 38/2012/TT-NHNN dated December 28, 2012, issued by the Governor of the State Bank of Vietnam, concerning the status of gold of credit organizations.

Article 8. Responsibility for Organization and Implementation

Heads of units under the State Bank of Vietnam; credit organizations permitted to produce gold bars and engage in buying and selling gold bars shall be responsible for organizing the implementation of this Circular.

ANNEX

(Issued together with Circular No. /2025/TT-NHNN dated December 2025)

Name of credit organization

Telephone: ...

DAILY REPORT ON GOLD STATUS

(Applicable to credit organizations authorized by the State Bank of Vietnam to produce gold bars and engage in buying and selling gold bars)

Date ... Month ... Year ...

1. Applicability: Credit organizations authorized by the State Bank of Vietnam to produce gold bars and engage in buying and selling gold bars.

2. Data Reporting Requirements:: The headquarters of credit organizations shall consolidate data from the entire system and submit it to the State Bank of Vietnam (Department of Foreign Exchange Management). In case of electronic reporting, credit organizations shall submit reports to the State Bank through the Department of Information Technology.

3. Deadline for Submission of Reports: Credit organizations shall submit reports no later than 14:00 on the following working day after the reporting date. The reporting date is the date determining the status of gold of the credit organization.

4. Guidelines for Report Preparation:

- Daily purchase and sale volumes of gold bars and gold raw materials: include all immediate delivery purchase and sale commitments.

- Daily export and import volumes of gold bars and gold raw materials: include all export and import commitments.

- Data on gold raw materials (lines I.2, II.2, III.2, IV.2, VI.2, and VI.3): shall be calculated based on data of gold raw materials with purity of 99.5% or higher.- Data on opening balance of gold for the reporting date (lines I.1 and I.2):

must be consistent with data on closing balance of gold for the previous day (lines VII.1 and VII.2) immediately preceding the reporting date. Data for indicators VIII.1, VIII.2, and IX shall be entered in column (4), with unit of measurement being million VND. These indicators do not have data in column (3). Data for indicators X, X.1, and X.2 have a unit of measurement of percentage.

- - Gray cells in the table are cells where no data should be entered.

- Figures for indicators X, X.1 and X.2 have a unit of measurement of %.

- The gray cells in the table are cells where data are not entered.