AMENDMENTS TO CIRCULAR NO. 30/2019/TT-NHNN DATED DECEMBER 27, 2019 OF GOVERNOR OF STATE BANK OF VIETNAM PRESCRIBING RESERVE REQUIREMENTS TO BE SATISFIED BY CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES

Clause 4 is added to Article 3 as follows:

“4. Bank for Social Policies.”

Article 7 is amended as follows:

1. The reserve ratio imposed on an assisting credit institution as defined in clause 39 Article 4 of the Law on Credit Institutions (hereinafter referred to as "assisting credit institution”) shall be reduced by 50% according to the plan for recovery of the credit institution placed under special control approved by a competent authority (hereinafter referred to as “approved recovery plan”).

2. The reserve ratio imposed on a credit institution that receives mandatory transfer of a commercial bank placed under special control as prescribed in the Law on Credit Institutions (hereinafter referred to as “transferee”) shall be reduced by 50% according to the plan for mandatory transfer of a commercial bank placed under special control approved by a competent authority (hereinafter referred to as “approved mandatory transfer plan").

3. The rate of reduction in reserve ratio granted to each of the credit institutions prescribed in clauses 1 and 2 of this Article shall be calculated according to the reserve ratio imposed on that credit institution as prescribed in clause 1 Article 6 of this Circular, regardless of types of reservable deposits.”.

The phrase “Ngân hàng Nhà nước chi nhánh tỉnh, thành phố trực thuộc Trung ương” (“SBV’s branch of province or city”) is replaced with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional branch”) in point a clause 2 Article 9.

1. The phrase “Ngân hàng Nhà nước chi nhánh tỉnh, thành phố trực thuộc Trung ương” (“SBV’s branch of province or city”) is replaced with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional branch”) in heading of Article 12.

2. The phrase “Ngân hàng Nhà nước chi nhánh tỉnh, thành phố trực thuộc Trung ương (sau đây gọi là Ngân hàng Nhà nước chi nhánh)” (“SBV’s branch of province or city (hereinafter referred to as “SBV’s branch”)) is replaced with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional branch”) in clause 1 Article 12.

3. The phrase “Ngân hàng Nhà nước chi nhánh” (“SBV’s branch”) is replaced with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional branch”) in clauses 2, 3 Article 12.

4. Clause 4 Article 12 is amended as follows:

“4. Based on the contents about reduction in reserve ratio granted to an assisting credit institution (if any) in the recovery plan approved by Director of the SBV’s regional branch as prescribed, the SBV’s regional branch shall send written notification of reduction in reserve ratio to the SBV’s Operations Center, Monetary Policy Department; such notification must clearly indicate the name of the assisting credit institution, the starting month and period during which the reduced reserve ratio applies.”.

5. Clause 5 Article 12 is amended as follows:

“5. Take actions within its competence or request competent authorities to take actions against the credit institutions facing reserve deficits, submit a report thereon to SBV’s Governor, and send decisions to take actions against the credit institutions facing reserve deficits to the Monetary Policy Department, Credit Institution Management and Supervision Department, SBV Inspectorate and SBV’s Operations Center.”.

1. Point d clause 1 Article 13 is amended as follows:

“d) Within the first 10 working days of every month, prepare a consolidated report on maintenance of reserve requirements in the previous reserve maintenance period by credit institutions using Form DTBB003 enclosed herewith, and send it to the SBV's Governor, and Credit Institution Management and Supervision Department, Monetary Policy Department, and send the list of credit institutions facing reserve deficits (in which the required reserve, actual reserve and reserve deficit of each credit institution must be specified) to the SBV’s regional branch in charge of the region where the subject credit institution is headquartered (or where the subject foreign bank branch is located).”.

2. Clause 4 Article 13 is amended as follows:

“4. Based on written notification received from the relevant SBV’s regional branch, the Credit Institution Management and Supervision Department as prescribed in clause 4 Article 12, clause 1 Article 16 of this Circular, the SBV’s Operations Center shall:

a) Determine, notify the required reserves and perform other tasks as prescribed in clause 1 of this Article to such assisting credit institutions and transferees;

b) Within the first 10 working days of the reserve maintenance period in which the application of reduced reserve begins, send written notification of reduction in reserve ratio (which must clearly indicate the reserve maintenance period in which the application of reduced reserve begins and periods during which the reduced reserve applies) to the following organizations and units: the credit institution granted reduction in reserve ratio; Credit Institution Management and Supervision Department; Monetary Policy Department; the SBV’s regional branch sending a notification to SBV’s Operations Center as prescribed in clause 4 Article 12 of this Circular; the SBV’s regional branch in charge of the region where the credit institution granted reduction in reserve ratio is headquartered.”.

The phrase “Ngân hàng Nhà nước chi nhánh” (“SBV’s branch”) is replaced with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional branch”) in clause 1 Article 14.

Article 16 is amended as follows:

1. Based on the contents about reduction in reserve ratio granted to an assisting credit institution or transferee (if any) in the approved recovery plan (except the recovery plan approved by Director of the SBV’s regional branch as prescribed), or approved mandatory transfer plan, the Credit Institution Management and Supervision Department shall send written notification of reduction in reserve ratio granted to the assisting credit institution or transferee to the SBV’s Operations Center, Monetary Policy Department; such notification must clearly indicate the name of the assisting credit institution or transferee, the starting month and period during which the reduced reserve ratio applies.

2. Provide SBV’s Operations Center with documents or decisions on special control, termination of special control, dissolution or revocation of Licenses of credit institutions within 03 working days from the day on which such a document or decision is issued by SBV, except those documents and decisions issued by SBV’s regional branches.

3. Supervise the compliance with provisions of this Circular by credit institutions, take actions within its competence, or request competent authorities, organizations or individuals to take actions against such credit institution failing to comply with provisions hereof in accordance with regulations of law.”.

Article 16a is added following Article 16 as follows:

Carry out inspection of maintenance of required reserves and compliance with other provisions of this Circular by credit institutions, and take actions within its competence, or request competent authorities to take actions against any violations detected during inspection.”.

The phrase “Ngân hàng Nhà nước chi nhánh” (“SBV’s branch”) is replaced with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional branch”) in Appendix providing guidance on calculation of required reserves, actual reserves, excess reserves, reserve deficits.

Article 10. Amendments to Form DTBB003 - Consolidated report on maintenance of reserve requirements by credit institutions

The phrase “Cơ quan Thanh tra, giám sát ngân hàng” (“SBV Banking Supervision Agency”) is replaced with the phrase “Cục Quản lý, giám sát tổ chức tín dụng” (“Credit Institution Management and Supervision Department”) in Form DTBB003 - Consolidated report on maintenance of reserve requirements by credit institutions.

Heads of SBV’s affiliated units, credit institutions and foreign bank branches are responsible for the implementation of this Circular.

This Circular comes into force from October 01, 2025./.