Quyết định 46/1999/QD-NHNN6

DECISION

TO ISSUE THE REGULATION ON THE ISSUE SERVICE AND THE REGULATION OF CASH MONEY IN THE STATE BANK SYSTEM

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank No.01/1997/QH10 of December 12, 1997;
Pursuant to Decree No. 15/CP of March 2, 1993 of the Government on the tasks, powers and State management responsibility of the ministries and ministerial-level agencies;
Pursuant to Decree No. 87/1998/ND-CP of October 31, 1998 of the Government on the issue, withdrawal and replacement of paper money and metal money;
At the proposal of the Head of the Issue Service and Treasury Fund Department,

DECIDES:

Article 1.- To issue together with this Decision the Regulation on the issue service and the regulation of cash money in the State Bank system;

Article 2.- This Decision takes implementation effect 15 days after its signing and replaces Decision No. 84/QD-NH of March 25, 1995 of the Governor of the State Bank issuing the stipulations on the regulation of cash money in the State bank system.

Article 3.- The Head of Office, the Head of the Issue Service and Treasury Fund Department, the Head of the Accountancy-Finance Department, the Head of the General Inspection Department, the heads of the relevant units at the Central State Bank; the General Director (or Directors) of the credit organizations, the Director of the Transaction Bureau of the State Bank, the Directors of the provincial and municipal branches of the State Bank shall have to implement this Decision.

REGULATION

 ON THE ISSUE SERVICE AND THE REGULATION OF CASH MONEY IN THE STATE BANK SYSTEM
(issued together with Decision No. 46/1999/QD-NHNN6 of February 5, 1999 of the Governor of the State Bank)

Chapter I

GENERAL PROVISIONS

Article 1.- The Vietnam State Bank (hereunder called the State Bank for short) is authorized to set up the issue reserve fund and the issue service fund to manage the issue reserve money and conduct the issue service on the basis of the plan of supplying the annual increase of money which has been ratified by the Government; the need of payment in cash of the economy; the need of replacing the money unqualified for circulation and the money which has been suspended from circulation.

Article 2.- The State Bank performs the task of regulating cash money on the whole territory of the Socialist Republic of Vietnam through the operations of the issue reserve funds, the issue service funds maintained and managed at the central money stores, the money stores of the State Bank Transaction Bureau and the money stores of the branches of the State Bank in the provinces and centrally-run cities.

Chapter II

SPECIFIC PROVISIONS

Article 3.-

1. The issue reserve fund comprises various types of paper money and metal money which have been declared to come into circulation, have not been declared to come into circulation, have been suspended from circulation or which are taken from the issue service fund but not qualified to come into circulation.

a/ The issue reserve funds at the central money stores are authorized to take in money newly produced at the money printing or minting houses; to deliver money to and take in money from the issue service fund at the State Bank Transaction Bureau and the money stores of the branches of State Bank in the provinces and cities.

b/ The issue reserve funds at the money stores of the branches of the State Bank (not including the money not yet declared to come into circulation) are authorized to directly deliver money to and take in money from the issue service fund managed by the branch; to deliver money to and take money from the issue reserve fund at the central money stores and other money stores of the branches of the State Bank.

Article 4.- Cases in which deliveries of money from and receipts of money into the issue reserve fund are allowed:

1. To deliver and take in money to regulate the money among the issue reserve funds at the central money stores; between the issue reserve fund at the central money store and the issue reserve fund at the money stores of the State Bank stores and vice versa; among the issue reserve funds at the money stores of the branches of the State Bank.

2. The issue reserve fund at Central Money Store I delivers money to (or take money from) the issue service fund at the Transaction Bureau of the State Bank;

3. The issue reserve fund at the money stores of the branches of the State Bank delivers money to (or takes in money from) the issue service fund managed by the branches;

4. To take in newly printed or minted cash money from the money printing or minting factories for the issue reserve fund at the central money stores;

5. To receive types of money not qualified for circulation or money suspended from circulation or withdrawn from circulation through the issue service fund;

6. To receive or deliver or change the types of money in order to change the structure of the cash money in the issue service fund at the money store of the Transaction Bureau of the State Bank and the branches of the State Bank;

7. To deliver the types of money not qualified for circulation or money suspended from circulation as prescribed by the Governor of the State Bank in order to destroy them;

8. To deliver the types of money newly declared by the Government to come into circulation.

Article 5.-

1. The Head of the Issue Service and Treasury Fund Department is authorized to sign the order to deliver to or take into the issue reserve fund at the money stores in the system of State Banks in the cases stipulated at Clauses 1, 2, 4, 7 and 8 of Article 4 of this Regulation.

2. The Directors of the branches of the State Bank in the provinces and cities shall sign the order on cash delivery and receipt between the issue reserve fund and the issue service fund managed by the branches in the cases defined in Clauses 3,5 and 6 of Article 4 of this Regulation.

Article 6.- The directors of the branches of the State Bank in the provinces and cities shall have to conduct the delivery to and receipt from the issue reserve fund at the branches in order to ensure the need of collecting and spending cash with regard to the customers.

Article 7.- The issue service fund comprises various types of paper money and metal money allowed to be used in daily transactions between the State Bank and the customers having budget service and payment with the State Bank and other service activities of the State Bank.

The issue service fund at the State Bank Transaction Bureau is authorized to deliver money to and receive money from the issue reseve fund at Money Store I and the cash fund of the clients having treasury and payment service relations with the Central State Bank.

The issue service fund of the branch of the State Bank in a province or city is authorized to deliver money to and receive money from the issue reserve fund at the branch and cash fund of the clients having treasury and payment service relations with the branch of the State Bank.

Article 8.- The director of the Transaction Bureau of the State Bank, the directors of the branches of the State Bank shall conduct the service of issuing money into circulation and the receipt of money from circulation through the issue service fund managed by the Transaction Bureau or the branches, ensure the timely and adequate supply for the need of cash for the credit organizations and the State Treasury within the balance of their deposits accounts.

Article 9.- Basing himself on the need of collecting and spending cash, the space and security conditions of the money store of each branch of the State Bank, every six months or without prior announcement, the head of the Issue Service and Treasury Fund Department shall project the level in stock of the issue service fund at the Transaction Bureau of the State Bank, estimate the stock at the issue reserve fund and the issue service fund at the branches of the State Bank and submit the plan to the Governor for approval. The Director of the Transaction Bureau of the State Bank, the directors of the branches of the State Bank shall have to strictly observe the norms for stocks at the issue reserve fund and the issue service fund already approved. In special cases, the issue reserve funds and issue service funds at the Transaction Bureau of the State Bank, the branches of the State Bank in the provinces and cities may leave a stock level higher or lower than the ratified levels in order to conform with the evolution of the collection and spending of cash in each period.

Article 10.- Basing himself on the norms for stock at the issue reserve fund and the tempo in the realization of delivery and receipt at the issue reserve fund at the branches of the State Bank, the Head of the Issue Service and Treasury Fund Department is authorized to sign the order to regulate and organize the regulation of cash among the issue reserve funds aimed at ensuring the necessary norms of stock of the issue reserve fund at the branches of the State Bank in the provinces and cities in order to take the initiative in meeting the need of circulation of cash in the territory.

Article 11.- The Head of the Issue Service and Treasury Fund Department is answerable to the Governor for the result of the regulation of cash and for ensuring the supply of enough cash for the need of disbursement of the State Treasury and of the credit organizations having treasury service and payment relations with the State Bank; he shall take direct responsibility before the Governor for the security of all assets kept at the central money stores and in the process of transferring from one store to another within the State Bank system.

Article 12.- The Director of the State Bank Transaction Bureau and the directors of the State Bank’s branches shall stipulate the time for transaction in cash with the customers in a reasonable way, stipulate the time for end-of-the-day inventory at the Issue reserve funds and the Issue service funds under the current regime, but they must ensure timely collection and disbursement of cash as required by the customers who have opened their accounts at the State Bank Transaction Bureau or branches of the State Bank.

Article 13.- The collection of information and reporting of the issue service inventory and store funds is stipulated as follows:

1. At the State Bank transaction bureau and branches of the State Bank:

The Transaction Bureau of the State Bank and branches of the State Bank shall supply information to the Central State Bank (Issue Service and Treasury Fund Department) through the computer network, fax, documents and telephone. The information supplied must ensure conformity with the stipulations in Decision No. 681/TTg of November 15, 1994 of the Prime Minister on the List of State secrets in the banking service.

a/ Daily cable: the State Bank Transaction Bureau and the branches of the State Bank shall transmit the data through the computer network to the central State Bank (the Issue Service and Treasury Fund Department) before 9 a.m. of the working day on the situation of cash money at the end of the working hours of the previous day at the transaction bureau or the branch of the State Bank according to the following contents:

- The delivery and receipt turnover of the issue service fund (accumulative from the first day of the month and not including the turnover of delivery and receipt between the issue reserve fund and the issue service fund).

- Cash in stock at the issue reserve fund (including: money qualified for circulation, money not qualified for circulation, money suspended from circulation), and in stock at the issue service fund.

b/ Periodical reports:

- Delivery and receipt turnover and over disbursement (or overcashing) of the issue reserve fund: to send cables every five days on the successive working days of the 5th, 10th and 15th... and the last day of the subsequent months and quarter plus the accumulative amounts of the previous periods (not including the turnover out and turnover in regulated among the issue reserve funds in the system of the State Banks).

- Balance of cash receipts and expenditures of the State Bank: monthly report.

2. At the Central State Bank:

a/ Money store I, money store II and money store III have the task of transmitting through the computer network to the State Bank (the Issue Service and Treasury Fund Department) before 9 a.m. of the work days the data on cash in stock at the Issue reserve fund (including money qualified for circulation, money not qualified for circulation and money suspended from circulation) at central money stores I, II and III up to the end of the working hours of the previous day.

b/ The Issue Service and Treasury Fund Department shall integrate the data in the whole country on the cash situation of the system of State Banks according to the contents stipulated at Clause 1 and Period a, Clause 2 of this Article as basis to organize the regulation of cash flow.

c/ The head of the Issue Service and Treasury Fund Department shall sum up the following data for submission to the State Bank Governor periodically:

- Delivery and receipt turnover of cash and accumulative amounts in and out of cash through the issue service fund (not including the delivery and receipt turnover between the issue reserve fund and the issue service fund) and the amount in stock of the issue reserve funds and issue service funds of the whole system of State Banks once every five days.

- Report on the situation of the implementation of deliveries and receipts, overdisbursement (or overreceipts), the quarterly issue reserve fund and issue service fund and the projected disbursement and receipts and over disbursements (or over receipts) of the issue reserve fund and the issue service fund in the following quarter.

Chapter III

ORGANIZATION OF IMPLEMENTATION

Article 14.- The head of the Issue Service and Treasury Fund Department shall have to guide the State Bank Transaction Bureau and the branches of the State Bank in implementing this Regulation and take measures to organize the inspection and closely monitor the issue service, retrieval of cash through the issue service fund in order to promptly regulate the cash flow at the money stores of the State Bank.

Article 15.- The director of the Transaction Bureau of the State Bank and the directors of the branches of the State Bank shall base themselves on the need of payment in cash of the economy, the need of replacing money not qualified for circulation and the money suspended from circulation to determine the value and the structure of the various types of cash brought into circulation in each month, quarter and year.

Article 16.- The directors of the branches of the State Bank shall have to regularly monitor and inspect the situation of receipts and spending of cash in the provinces and cities.

Article 17.- Amendment or supplement to the provisions in this Regulation shall be decided by the Governor of the State Bank.