Press release on issuance of Circular No. 25/2022/TT-NHNN
Hanoi, December 30, 2022 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 25/2022/TT-NHNN providing for the accounting regime related to the delivery, transfer, issuance, taking out of circulation and destruction of cash at the SBV. Circular No. 25/2022/TT-NHNN shall replace Decision No. 37/2007/QD-NHNN dated October 26, 2007 providing for the accounting regime related to the delivery, transfer, issuance, taking out of circulation and destruction of cash at the SBV.
The new Circular was issued to address a number of limitations in the implementation of Decision No. 37/2007/QD-NHNN, since the reference numbers, the contents, the features and the structure of the SBV's accounting system have been changed; in practice, there have been a number of limitations in the implementation of Decision No. 37/2007/QD-NHNN, and it has led to the emergence of new operations, such as: changing the method of cash delivery between the Central Banking Department and the Issue and Vault Department; and dealing with vandalized money, which the denomination can still be identified, for the Issue and Vault Branches; etc.
This new Circular is applied for the Issue and Vault Department, the Issue and Vault Branches, the Finance and Accounting Department, the Central Banking Department, the SBV provincial and municipal branches, and the entities, organizations relevant to the delivery, transfer, issuance, taking out of circulation and destruction of cash at the SBV.
The Circular is composed of 03 Chapters, 32 Articles, specifically as follows:
Chapter I. General regulations, comprising of 04 Articles;
Chapter II. Accounting on the delivery, transfer, issuance, taking out of circulation and destruction of cash, comprising of 25 Articles;
Chapter III. Implementation, comprising of 03 Articles.
The new Circular will take effect on February 15, 2023.
Translated by LK.