Chương II: Quy định cụ thể

CIRCULAR

ON TREASURY SERVICES FOR CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to Decree No. 102/2022/ND-CP dated December 12, 2022 of the Government on the functions, duties, powers, and organizational structure of the State Bank of Vietnam;

Pursuant to Decree No. 40/2012/ND-CP dated May 2, 2012, of the Government on the issuance of money; preservation and transportation of valuable assets and negotiable instruments within the system of the State Bank of Vietnam, credit institutions, and foreign bank branches;

Upon the request of the Director General of the Issue and Treasury Department;

The Governor of the State Bank of Vietnam hereby promulgates this Circular on treasury services for credit institutions and foreign bank branches.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

This Circular provides regulations on the provision of treasury services by commercial banks, foreign bank branches, and cooperative banks for other credit institutions and foreign bank branches.

Article 2. Regulated entities

1. Commercial banks, foreign bank branches, and cooperative banks providing treasury services to other credit institutions and foreign bank branches (hereinafter referred to as service providers).

2. Credit institutions and foreign bank branches using treasury services (hereinafter referred to as service users).

3. Other relevant agencies, organizations, and individuals.

Article 3. Interpretation of terms

For the purposes of this Circular, the following terms are defined as follows:

1. Treasury services refer to asset transportation services; cash and foreign currency collection and disbursement services; cash processing services; and cash replenishment and centralized cash collection services.

2. Asset transportation services refer to services provided by the service provider for the transportation of cash, valuable assets, and negotiable instruments for the service user based on mutual agreement.

3. Cash and foreign currency collection and disbursement services refer to services provided by the service provider for the collection and disbursement of cash and foreign currency with the service user at the locations specified in Clause 2, Article 8 of this Circular.

4. Cash processing services refer to services provided by the service provider for counting, sorting, and classifying currency as fit for circulation, unfit for circulation, or counterfeit; packaging and sealing cash and foreign currency for the service user based on mutual agreement.

5. Cash replenishment and centralized cash collection services refer to services provided by the service provider for replenishing cash and collecting cash from branches, transaction offices, automated teller machines (ATMs), and other fixed transaction points of the service user based on mutual agreement.

6. Treasury service fees refer to the amount paid by the service user to the service provider as agreed upon by both parties.

7. Escort personnel refer to individuals in charge of overseeing transportation, ensuring the safety of cash, valuable assets, and negotiable instruments; and organizing the delivery, receipt, and transportation in accordance with the regulations of the State Bank of Vietnam (hereinafter referred to as the State Bank) on the delivery, safekeeping, and transportation of cash, valuable assets, and negotiable instruments.

Article 4. Principles of treasury service provision

1. The service provider may only provide treasury services if:

a) Its establishment and operation license for commercial banks, cooperative banks, or foreign bank branches includes authorization to provide treasury services to other credit institutions and foreign bank branches;

b) It has internal regulations and procedures for each type of treasury service to ensure asset security for both the service provider and the service user.

2. The service provider must have adequate infrastructure to meet the operational requirements of treasury services, including:

a) If providing asset transportation services, it must have cash transport vehicles that meet the State Bank’s standards. If other means of transport (besides cash transport vehicles) are used to transport cash, valuable assets, and negotiable instruments, the service provider must establish written regulations and guidelines on transportation procedures, security measures, and asset safety assurance;

b) If providing asset storage, it must use vaults that meet technical standards prescribed by the State Bank;

c) It must have appropriate machinery, equipment, and tools for each type of treasury service provided;

d) It must maintain a payment, accounting, and cash management system for treasury services.

Article 5. Treasury service network

The headquarters, branches, and transaction offices of commercial banks, cooperative banks, and foreign bank branches that meet the requirements of Article 4 of this Circular may provide treasury services.

Article 6. Treasury service contracts

1. The service provider must sign a contract with the service user when providing treasury services. The contract must comply with this Circular and relevant legal provisions.

2. The treasury service contract must include at least the following details:

a) Information of the contracting parties;

b) Scope of services and contract duration;

c) Cash management methods in treasury service transactions;

d) Applicable fees and payment methods;

dd) Error handling, dispute resolution, and breach of contract provisions;

e) Rights and obligations of the contracting parties.

Chapter II

SPECIFIC PROVISIONS

Article 7. Implementation provisions

1. The service provider shall receive the service user’s request and enter into an asset transportation service contract with the service user.

2. When providing asset transportation services, the service provider shall be responsible for arranging transportation vehicles and security personnel, while the service user shall be responsible for arranging handover/receipt personnel and escort staff.

3. Asset transportation in treasury services shall comply with the regulations of the State Bank on the delivery, safekeeping, and transportation of cash, valuable assets, and negotiable instruments.

Article 8. Cash and foreign currency collection and disbursement services

1. The service provider shall receive the service user’s request and enter into a cash and foreign currency collection and disbursement service contract with the service user.

2. Cash and foreign currency collection and disbursement may be conducted at legally authorized transaction locations of both the service provider and the service user, or at other locations as mutually agreed.

3. The collection and disbursement of cash and foreign currency shall comply with the regulations of the State Bank on the delivery, safekeeping, and transportation of cash, valuable assets, and negotiable instruments.

Article 9. Cash processing services

1. The service provider shall receive the service user’s request and enter into a cash processing service contract with the service user.

2. The receipt, counting, sorting, selection, packaging, and sealing of cash and foreign currency between the service provider and the service user shall comply with the regulations of the State Bank on the delivery, safekeeping, and transportation of cash, valuable assets, and negotiable instruments.

Article 10. Cash replenishment and centralized cash collection services

1. The service provider shall receive the service user’s request and enter into a cash replenishment and centralized cash collection service contract with the service user.

2. When providing cash replenishment and centralized cash collection services, the service provider shall be responsible for arranging transportation vehicles, security personnel, and escort staff.

3. Cash bundles, bags, or boxes used for replenishment or collection must be sealed by either the service provider or the service user.

4. The transportation and handover of cash at fixed replenishment locations of the service user shall comply with the regulations of the State Bank on the delivery, safekeeping, and transportation of cash, valuable assets, and negotiable instruments.

Article 11. Treasury service fees

1. The service provider shall establish fees for each type of service, negotiate directly with the service user, and specify such fees in the treasury service contract based on equality, voluntariness, and compliance with legal regulations.

2. Service fees must be publicly posted at transaction locations within the service provider’s authorized network.

Article 12. Handling of surplus and shortage of cash, valuable assets, and negotiable instruments

The handling of surplus and shortage of cash, valuable assets, and negotiable instruments in the course of providing treasury services shall comply with the regulations of the State Bank on the delivery, safekeeping, and transportation of cash, valuable assets, and negotiable instruments.

Chapter III

IMPLEMENTATION

Article 13. Responsibilities of relevant units under the State Bank

Relevant units under the State Bank shall be responsible for inspecting and supervising the implementation of this Circular by credit institutions and foreign bank branches within their jurisdiction and in accordance with legal regulations.

Article 14. Responsibilities of service providers

1. Based on the provisions of this Circular and relevant legal regulations, service providers shall issue internal regulations and procedures for each type of treasury service and ensure asset security. Internal regulations and procedures must be submitted to the State Bank (Issue and Treasury Department) within 10 days from the date of issuance.

2. Perform other responsibilities in accordance with treasury service contracts and applicable legal regulations.

Article 15. Implementation

1. This Circular comes into force as of February 14, 2025.

2. Heads of units under the State Bank, credit institutions, and foreign bank branches shall implement this Circular./.

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