This Circular consists of 03 Chapters and 22 Articles, replacing Circular No. 16/2022/TT-NHNN dated November 30, 2022. The issuance aims to further improve the legal framework governing the custody and use of valuable papers at the State Bank of Vietnam ; ensure alignment with newly enacted legal provisions ; and meet the requirements of digital transformation, administrative procedure reform, as well as enhance the efficiency of implementing the State Bank of Vietnam's operations.
The content of the Circular introduces several new points compared to Circular No. 16/2022/TT-NHNN, specifically as follows:
1. Supplementing regulations on electronic dossiers and procedures conducted via electronic environments for opening custody accounts of valuable papers at the State Bank of Vietnam. This is to ensure consistency with the law on electronic transactions and the orientation toward promoting the provision of online public services.
2. Amending and supplementing regulations on the procedures for opening valuable paper custody accounts towards simplifying documentation, thereby creating favorable conditions for participating organizations while ensuring requirements for management and information reconciliation in accordance with regulations.
3. Supplementing and finalizing regulations relating to the handling of valuable papers in cases where credit institutions undergo division, separation, consolidation, merger, dissolution, bankruptcy, or compulsory transfer. This ensures compliance with relevant legal provisions and practical implementation.
4. Amending and supplementing regulations on the transfer of ownership, pledge, escrow, and release of valuable papers. This aims to ensure alignment with newly arising operations in the activities of the State Bank of Vietnam and participating organizations.
5. Supplementing and updating certain types of valuable papers eligible for custody and use at the State Bank of Vietnam, in accordance with current legal regulations and the operational requirements of the State Bank of Vietnam.
Credit institutions, foreign bank branches, and organizations designated as members under the provisions of this Circular that currently hold valuable paper custody accounts at the State Bank of Vietnam may continue to utilize these accounts. Transactions involving valuable papers executed prior to the effective date of this Circular shall continue to be carried out in accordance with the agreements signed between the relevant parties.
The Circular takes effect from July 4, 2026./
by VNBA News
