Thông tư 24/2020/TT-NHNN

CIRCULAR

AMENDING AND SUPPLEMENTING SEVERAL ARTICLES OF THE CIRCULAR NO. 37/2014/TT-NHNN DATED NOVEMBER 26, 2014 OF THE GOVERNOR OF THE STATE BANK OF VIETNAM, REGULATING MONEY DESIGNING, PRINTMAKING AND MANAGEMENT OF VIETNAMESE MONEY PRINTING AND CASTING  

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

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

Pursuant to the Government's Decree No. 16/2017/ND-CP dated February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Upon the request of the Director of the Issue and Vault Department;

The SBV’s Governor promulgates the Circular, amending and supplementing several Articles of the Circular No. 37/2014/TT-NHNN dated November 26, 2014 of the Governor of the State Bank of Vietnam, regulating money designing, printmaking and management of Vietnamese money printing and casting (hereinafter referred to as Circular No. 37/2014/TT-NHNN). 

Article 1. Amending and supplementing certain Articles of the Circular No. 37/2014/TT-NHNN

1. Clause 2 of Article 2 shall be amended and supplemented as follows:

“2. Domestic money printing and casting facilities (hereinafter referred to as money printing and casting facilities).”.

2. Clause 1, 3 and 5 of Article 7 shall be amended and supplemented as follows:

“1. Based on the tasks of printing and casting money, or in order to meet requirements for improvement of the quality of money, the Issue and Vault Department shall prepare the plan to make master prints and molds for submission to the Governor to seek his/her approval. In case the master print or mold of the currency in circulation deteriorates or is damaged due to other reasons, the Issue and Vault Department shall submit the plan to make and replace the master prints or molds to seek the Governor’s approval, based on assessment reports and proposals of money printing and casting facilities. The plan to make and replace master prints and molds must cover the handling and disposal of the replaced master prints and molds.

The making and production of master prints or molds must truthfully and fully show the contents of the official designs and meet the application requirements for approval of money designs approved by competent authorities.

“3. Based on the plan to make the master print or mold approved by the Governor as mentioned in clause 1 of this Article, the Issue and Vault Department shall sign a contract with a money printing and casting establishment to make the master print or mold of each currency. After completing the contract for making of the master print or mold, the money printing or casting facility must hand over that master print, mold, the standard printed or cast specimen, design files, documents on the design of samples of the official designs, and files on the making of the master print or mold, to the Issue and Vault Department.”

 “5. Based on the money printing or casting contract, the Issue and Vault Department must hand over files on the making of the master print or mold; a set of master prints; a master mold set; a multiple-image printed sample set; monochromic printed sample set; color chart and documentation on technical standards of each currency type which is identified in the signed money printing and casting contract.”.

3. Point b of clause 2 of Article 8 shall be amended and supplemented as follows:

 “b) For banknotes: Carrying out the trial printing on materials that will be used for money printing or equivalents in conformity with the official designs and application documentation for approval of designs approved by competent authorities.”.

4. Clause 1 of Article 11 shall be amended and supplemented as follows:

“1. After receiving the application for approval of the trial printed or cast sample from the money printing and casting facility as prescribed in Article 10 of this Circular, the Issue and Vault Department shall undertake the evaluation and appraisal of the trial printed or cast sample, propose the acceptance testing of the master print or mold on the basis of the official design and application documentation for approval of the design specified in Clause 1 of Article 6 of this Circular. Results of evaluation of the trial printed or cast sample, and the proposal for the acceptance testing of the master print or mold must be documented.

During the evaluation process, if the trial printed or cast samples fail to meet the requirements of application documentation for designs as prescribed in clause 1 of Article 6 herein, the Issue and Vault Department shall request money printing and casting facilities to modify and finalize prints and molds on a basis of official designs and requirements concerning techniques and money quality.”.

5. Clause 1 of Article 12 shall be amended and supplemented as follows:

“1. The Governor approves the trial printed and cast samples and the acceptance testing results of prints and molds at the request of the Issue and Vault Department on the basis of the results of evaluation and appraisal of the trial printed or cast samples, application documentation for approval of monochromic trial samples referred to in Clause 1 of Article 10 of this Circular, and the application documentation for approval of the money designs as prescribed in Clause 1 of Article 6 of this Circular that has been previously approved by the Governor.”.

6. Article 13 shall be amended and supplemented as follows:

“Article 13. Printmaking, trial printing and casting for research and application purposes

1. In case where it is necessary to research and test techniques and technologies by performing printmaking, trial printing or casting activities for research or backup sampling purposes, the Issue and Vault Department shall take charge of, or cooperate with money printing and casting facilities or foreign partners in, preparing a report for submission to the Governor to seek his/her approval decision.

2. The procedures for the printmaking, trial printing and casting of samples for research or backup purposes shall be implemented in the same manner as those for the printmaking, trial printing and casting of a new currency as provided herein.

3. In case where it is necessary to apply new developments in security technology to Vietnamese money printmaking, printing and casting, the money printing and casting facility shall submit them (through the Issue and Vault Department) to the Governor to seek his/her approval before implementation.”.

7. Clause 5 of Article 15 shall be amended and supplemented as follows:

“5. Money printing and casting by money printing and casting facilities shall be subject to the State Bank's supervision, inspection and examination or audit in accordance with law.”.

8. Titles, Clause 2 and 4 of Article 16 shall be amended and supplemented as follows:

“Article 16. Management of quality and quantity of printed or cast money”

“2. The supervision and quality control of money printed and cast under contracts with the State Bank shall be based on currency technical standards, money making technological processes and other technical requirements.”.

“4. Money printing and casting facilities shall be responsible for the quality and quantity of printed or cast money under contracts with the State Bank, even including the cases where the State Bank or any credit institution or foreign bank branch detects any issue relating to the quality and quantity of printed or cast money during the process of delivering and making the inventory of such money in accordance with the State Bank's regulations on delivery, storage and transportation of cash, valuable assets and securities.”.

9. Adding clause 5b and clause 8 to Article 18 as follows:

 “5b. Receiving, storing and preserving objects, documents or files transferred or handed over by money printing and casting facilities in accordance with clause 3 of Article 7 and clause 5 of Article 20 herein.”.

“8. Cooperating with relevant units in conducting the supervision, control, inspection, examination or audit of money printing and casting operations of these facilities as per the State Bank's regulations.”.

10. Article 19 shall be amended and supplemented as follows:

“Article 19. Responsibilities of other affiliates or subordinate units of the State Bank of Vietnam

1. The Bank Supervision and Inspection Agency, the Internal Audit Department, the Finance - Accounting Department and other related units shall inspect, supervise, control and audit the money printing and casting activities of the money printing and casting facilities within the scope of their functions, powers and duties, and in accordance with laws.

2. Information Technology Department shall be responsible for providing the Issue and Vault Department with instructions about storage, retention and archival of files on design of samples of official designs and files on the making of master prints or molds in accordance with the regulations on protection of state secrets.”.

11. Article 20 shall be amended and supplemented as follows:

“Article 20. Responsibilities of money printing and casting facilities

1. Developing technological processes for printmaking, printing and casting of money and technological processes for preparation of currency printing ink, And submitting them to the Governor (via Issue and Vault Department) to seek its approval of release thereof.

2. Elaborating and promulgating regulations on control of printmaking and printed or cast money quality in the entire production process; management of currency prints and molds; management of the use of machines, equipment, raw or input materials, supplies, components, parts and accessories used in money printing and casting activities; management of documents, files, computer systems, software, and equipment used for designing sample money, making currency prints and molds; regulations on the protection of State secrets arising in money printing and casting activities and ensuring security and safety for the production processes.

3. Sending the Issue and Vault Department the following documents:

a) Those documents referred to in Clause 1 and 2 of this Article;

b) Reporting on the implementation of the money printing and casting plan; percentages of defective products, finished products and semi-finished products in stock of currency of specific types; the inventory and use of money printing papers, money printing inks, money prints, money metal billets and other contents related to the implementation of the money printing and casting plan (if any) on a quarterly basis (by the 18^th day of the first month of the following quarter);

c) Reporting on the results of testing and evaluation of technical and quality standards of trial printed or cast products, and official printed and cast products.

4. Destroying damaged or trial prints, molds; damaged or trial printed or cast products; damaged raw materials and supplies used in money printing and casting activities under the provisions of law.

5. Handing over the objects, documents and files specified in Clause 5 of Article 7 of this Circular to the Issue and Vault Department after completing each money printing and casting contract (except in case of renewal of the contract for the following year).”.

Article 2. Implementation responsibilities 

The Office’s Chief, the Director of the Issue and Vault Department, the Director of the Internal Audit Department, the Director of the Finance – Accounting Department, the Banking Inspection and Supervision Chief, Heads of related affiliates of the State Bank of Vietnam; Chairpersons of Boards of Directors, and Directors General (Directors) of money printing and casting facilities shall be responsible for implementation of this Circular.

Article 3. Implementation provisions

This Circular shall take effect as of February 15, 2021.

LIST OF AFFILIATES OF STATE BANK OF VIETNAM BEARING RESPONSIBILITIES FOR IMPLEMENTATION OF THE CIRCULAR ON AMENDMENTS AND SUPPLEMENTS TO THE CIRCULAR NO. 37/2014/TT-NHNN

(Annexed to the Circular No. 24/2020/TT-NHNN dated December 31, 2020 of the State Bank of Vietnam)

- Department of Legislation.

- Information Technology Department.

ISSUE AND VAULT DEPARTMENT