Tiếng Việt- 1 Law No. 20/2004/QH11 of June 15, 2004 amending and supplementing a number of articles of The Law on credit institutions
- 2 Law No. 10/2003/QH11 of June 17, 2003, amending and supplementing a number of articles of the Vietnam State Bank Law
- 3 Decree No. 52/2003/ND-CP of May 19, 2003, prescribing the functions, tasks, powers and organizational structure of Vietnam State Bank
- 4 Law No. 06/1997/QH10 of December 12, 1997 on The State Bank of Vietnam
- 5 Law No. 07/1997/QH10 of December 12, 1997 on credit institutions
| THE STATE BANK OF VIETNAM | SOCIALIST REPUBLIC OF VIETNAM |
| No. 1498/2005/QD-NHNN | Hanoi, October 13, 2005 |
ON THE ISSUANCE OF THE ONE-DOOR TRANSACTION REGULATION APPLICABLE TO CREDIT INSTITUTIONS
THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12/12/1997 and the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated 17/62003;
- Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated 12/12/1997 and the Law on the amendment, supplement of several articles of the Law on Credit Institutions No. 20/2004/QH11 dated 15/62004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19/5/2003 of the Government providing for the function, assignment, authority and organizational structure of the State Bank of Vietnam;
- Upon the proposal of the Director of the Finance Accounting Department
DECIDES:
Article 1. To issue in conjunction with this Decision the one-door transaction Regulation applicable to credit institutions
Article 2. This Decision shall be effective after 15 days since its publication in the Official Gazette.
Article 3. The Director of the Administrative Department, the Director of the Finance- Accounting Department, Heads of units of the State Bank of Vietnam, the General Managers of the State Banks branches in provinces, cities under the central Governments management, the Chairperson of the Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision
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FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR
Vu Thi Lien
THE ONE DOOR TRANSACTION REGULATION APPLICABLE TO CREDIT INSTITUTIONS
(Issued in conjunction with the Decision No. 1498/2005/QD-NHNN dated 13 October 2005 of the Governor of the State Bank of Vietnam)
Article 1. Subjects of application and governing scope
1. Subjects of application:
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2. Governing scope:
The one door transaction Regulation shall govern the following transactions:
a. Transaction of cash collection payment: including the receipt, payment of deposits from deposit accounts, savings account, bills of exchange, bonds, deposit certificates and other transactions of cash collection and payment.
b. Transaction of payment, money transfer: Payment via the payment account, issue of cheques, bank cards; money transfer, trading and exchange of foreign currencies, traveler cheques; and other payment transactions.
c. Other transactions: to be applicable depending on the extent of the performance of the one-door transaction by credit institutions, on the principle of complying with provisions and content of the operation procedure which are related to that type of transaction.
In this Regulation, the following terms shall be construed as follows:
1. One-door transaction is a mode of providing services by a credit institution to customers where customers need to perform transactions with only one transactor of the credit institution and receive the result from that transactor.
2. Transactor is an officer, an employee of a credit institution who directly engages in transactions with customers, takes responsibility for receiving and dealing with customers requirements within the scope of his competence on the preparation, control over and approval of transaction documents.
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4. Transaction limit is the maximal value of a transaction, which a transactor is permitted to perform without the approval of the controller. Each type of transaction has different limits.
5. Limit of cash balance is the maximal cash balance a transactor is permitted to maintain at any time on a transaction day.
6. Treasury division is the treasury division of a credit institution which is responsible for organizing the collection, payment of cash, valuable papers; delivery and receipt of other assets in respect of transactors and customers (for cash transactions which exceed the limit of a transactor)
7. Transaction counter is a place where the transactor carries out transactions with customers.
Article 3. General principles in one door transaction
Credit institutions shall perform the one door transactions on the basis of following principles:
1. Credit institutions shall carry out the reform of administrative procedures in the banking activity, but must ensure the security of assets and comply with principles on the examination, control applicable to the banking activity.
2. Credit institutions must organize and assign labour in a reasonable and scientific manner for satisfying requirements of administrative reform and complying with provisions of applicable laws in the banking activity.
3. Credit institutions must set up a specific operation Process concerning the one door transaction on the basis of current provisions on the banking activity, treasury activity, accounting regime and satisfying the requirements of report preparation in accordance with applicable provisions.
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5. Credit institutions, which apply science and technology in the one door transaction, must comply with provisions of applicable laws on operational procedures of the type of transaction they perform. The system of equipments, application software must satisfy technical standards in accordance with applicable provisions to ensure the prudence, confidentiality, accuracy, the automatic processing in a synchronous and objective manner for the entire operational activities relating to performed transactions.
6. Examination, control in the one door transaction:
a. Credit institutions must strictly control over related operations in the one door transaction. Everyday, the accounting division must perform the last examination (reconciling transaction documents with the list of transaction documents in a day) so as to ensure the correctness of transactions within the day. In case of detecting any error, the reasons thereof must be defined and timely dealt with.
b. In respect of transactions of cash collection, the transaction program must print out a note of cash delivery and receipt so that the customers can check and sign for confirmation. Where the transaction program fails to print out the note of cash delivery and cash, the controllers must control and sign on the cash receipt before delivering it to customers.
Article 4. Conditions for a credit institution to be entitled to perform the one door transaction
Credit institutions shall organize the performance of the one door transaction when they fully satisfy the following conditions:
1. For material foundation, technical equipment:
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b. The system of equipment is connected as a complete network to update, process, examine, control, exploit and save data safely, accurately, fast and conveniently. Credit institutions must have computers system and a backup center for data maintenance.
c. Credit institutions must have an appropriate transaction program, which is set up on the principle of complying with current provisions applicable to each type of operation of credit institutions and compatible with and in line with other software programs.
d. Credit institutions must have confidentiality measures to ensure the security and secrecy of data in the program, access code of the system and electronic signature. The general control system and the control system via computer network must have enough capacity to control operational acts in the one door transaction, ensure the right compliance with provisions, avoid the abuse, embezzlement, appropriation of assets.
2. For the operational regulation, procedures and rules in the one door transaction:
Credit institutions must set up a regulation, technical procedures on operations and rules in the one door transaction on the basis of concretizing main contents of this Regulation.
3. For the staff
Staff must be ethical, knowledgeable, and have good understanding of provisions on the transaction operation and one door transaction regulation for handling smoothly all parts of operation and technical procedure of transaction on the computer.
1. Limit of cash collection payment transaction and limit of cash balance in a day for a transactor:
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b. Transactions exceeding the limit must be controlled and approved prior to performance by the controller. Transactions of cash collection payment exceeding the transaction limit shall be performed by the treasury division.
2. Management for cash in vault, valuable papers and other assets which are assigned to transactors for performing the one door transaction
a. By the beginning of a transaction day, transactors are advanced cash, valuable papers and other assets from treasury division in accordance with provisions of credit institutions for performing transactions with customers. During the transaction process, if the cash balance of a transactor exceeds the limit of daily cash balance, credit institutions shall transfer the exceeded amount to the treasury division and advance for additional supply where the cash balance of the transactor is lower than the stipulated limit. At any time of a transaction day, the actual cash balance of a transactor must coincide with the cash balance in the accounting book.
b. By the end of a day, the whole cash balance of transactors shall be transferred to the treasury division together with printed reports to assure that there is no cash balance by the end of a transaction day.
3. The regime of advance and the repayment of advance
All of money amounts, valuable papers and other assets, which are advanced by the treasury division and delivered to transactors at the beginning of a day, must be controlled, reconciled and settled at the end of the transaction day. The delivery, receipt, preservation, transportation of cash, valuable papers between transactors and the treasury division must comply with the procedure on treasury operation. Where money is delivered, received in a sealed pack by the end of a transaction day, at the beginning of the following transaction day, transactor shall not be permitted to receive the same sealed pack he delivered on previous day.
4. In respect of the delegation, decentralization in processing and controlling the operations which arise in the one door transaction:
Credit institutions shall carry out the delegation, decentralization and clearly provide for the rights and responsibilities of participants to the one door transaction. The delegation, decentralization must ensure the prudence and compliance with provisions of applicable laws.
5. To equip other security instruments, devices such as camera for monitoring the operation at transaction places.
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Article 6. Accounting documents used in the one door transaction
The accounting documents used in the one door transaction consist of 2 types: documents presented by customers and those drawn by the transactors in accordance with the stipulated form of the credit institutions for each operation procedure in the one door transaction (already printed documents by volume and/or documents printed from the computer). The accounting documents used in the one door transaction must comply with current provisions on the regime of accounting documents and the provisions in this Regulation.
1. Preparation of accounting document
a. Documents used for transaction with customers: based on papers, documents (that have been verified in terms of the legality, validity) presented by customers, transactors shall enter data into the system and print out the documents in accordance with provisions of credit institutions on each operation procedure of respective transaction issued by the credit institutions. The documents drawn by the transactors must be printed out with full information of the transaction prior to delivering to related divisions or returning to the customers.
b. By the end of a day, transactors shall draw a List of documents transacted with customers in the day in accordance with the stipulated procedures and forms issued by the credit institutions.
2. Control over documents:
a. In respect of transactions within the limit: transactors shall be both drawer and controller and only one signature of transactor on the document is required.
b. In respect of transactions which exceed the limit and transactions which require the approval by competent person: they must be checked and controlled by controllers. Documents of that transaction must be fully supported by the signatures of drawer (transactor) and document controller (controller) and/or the signature of competent levels according to the authority decentralization of the credit institution.
c. In respect of the List of transaction documents of transactors in a day: Transactors and controllers shall check, reconcile between the List of transaction documents in the day with transaction documents of customers and of credit institutions (if any) to ensure the full reconciliation and the correct accounting of accounts. The List must be fully supported by the signatures of transactor and controller.
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After the examination, control and reconciliation by related divisions, everyday, all accounting documents (including book-entry documents and original documents attached) including the list of transactions shall be delivered to the general accounting division for examination, reconciliation (check again), maintenance and preservation of accounting documents in accordance with current provisions. The delivery of documents shall be guided in details for each specific operation by credit institutions.
Article 7. Authorities and responsibilities of participants to the one door transactions
1. For General Directors (Directors)
a. Authority:
- To delegate and decentralize authorities to participants to the one door transaction procedure. To provide for the transaction limit applicable to each transactor.
- To be granted with a secrecy code to perform their functions under their competence in controlling and approving (signing) documents, or to authorize other person to exercise the right of control over and approval of paper documents and documents on the computer in accordance with applicable provisions.
b. Responsibilities:
- To take full responsibilities to the law for losses that may arise from the application of the one door transaction at their institutions.
- To set up the Regulation on the one door transaction, the operation procedure in the one door transaction. To provide guidance on the implementation of the one door transaction at their own institutions in accordance with applicable provisions and examine the compliance with the provisions in the one door transaction.
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- To absolutely keep secret of the granted secrecy code, electronic signature and change them on periodical basis to prevent from the stealing, abuse, embezzlement, appropriation of assets of credit institution and customers; to take responsibility to the law for losses resulting from the loss or disclosure of the granted secrecy codes and electronic signatures.
2. For Controllers:
a. Authority:
- To examine and approve transactions which exceed the limit of transactors and other transactions in accordance with authority delegation, decentralization of the General Director (Director).
- To examine and sign for confirmation on the list of transactions performed within a day of transactors;
b. Responsibilities:
- To correctly comply with the regulations stipulated in the one door transaction procedure
- To take responsibility for examining the legality, validity of daily transaction documents which transactors carry out under their stipulated competence; at the same time to reconcile and verify the accuracy between the documents performed by the transactors in the day with the list of transactions performed within a day at the end of the day made by the transactors.
- To absolutely keep secret of secrecy codes, electronic signatures in accordance with applicable provisions and take full responsibility to the General Director (Director) and to the law for the losses resulting from the loss or disclosure of the secrecy codes, electronic signatures.
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a. Authorities:
- Transactors shall be granted with a secrecy code to carry out their assignment according to their competence in the preparation of, control over, approval (signing) for documents
- Transactors shall have the right to process and take full responsibilities for losses arising from the transactions within the transaction limits they are in charge. Transactions exceeding the limit must be approved by the controllers in accordance with applicable provisions prior to the implementation.
b. Responsibilities
- Transactors shall be responsible for guiding customers to carry out transactions, checking the legality, validity of documents and accuracy of the contents of transactions they are assigned to perform.
- Transactors must comply with and correctly implement their assigned task, check the coincidence between actually arisen documents, the actual cash balance and the data in the system.
- Transactors must absolutely keep secret of the secrecy codes and electronic signatures granted in accordance with applicable provisions and take full responsibilities to the General Director (Director) and to the law for losses resulting from the loss or disclosure of the secrecy codes and electronic signatures.
- To comply with the procedure on delivery, receipt and count of money with the treasury division and customers. In case of lack or exceeding the cash balance limit, transactors shall report for right implementation of the provisions of the credit institutions on the cash balance limit. By the end of the transaction day, transactors shall carry out the reconciliation to ensure the correctness between the actual cash balance and the money amount stated in the accounting book and transfer the whole cash balance to the treasury division.
4. For treasury division:
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The treasury division shall have the right to examine the cash balance limit of transactors in accordance with applicable provisions.
b. Responsibilities:
- The treasury division shall be responsible for preserving absolutely the security of the money amount and the assets they are managing, complying with the regime, principle of delivery and receipt of money and assets, reconciling the correctness between the actual cash balance and the data stated in the accounting book.
- Everyday, the treasury division shall advance an amount of money to transactors to perform types of transactions arising under applicable provisions. During the transaction process, the treasury division shall recover the exceeding amount of the cash balance limit of transactors or supply additional cash if the cash balance of transactor is lower than the stipulated limit. At the end of a day, the treasury division must transfer all of cash balance of transactors to their fund for management.
Article 8. Acts to be strictly forbidden
1. Not to comply with the provisions in the regulation on the one door transaction and the operation procedure on the one door transaction.
2. To try to exploit, access, use illegally the transaction program, to deliberately lose or disclose the secrecy codes, electronic signatures which are used in the one door transaction.
3. To change, counterfeit and adjust electronic data concerning the one door transaction for concealing the act of legal violation.
Article 9. Dealing with violation
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Article 10. Organization of implementation
1. General Directors (Directors) of credit institutions shall, based on the provisions in this Regulation, set up and issue the Regulation, operation procedure and rules in the one door transaction of their institutions.
2. The State Bank Inspectorate shall be responsible for supervising and examining the implementation of the provisions on the one door transaction applicable to credit institutions.
Article 12. Amendment, supplement of the regulation
The amendment, supplement of this Regulation shall be decided upon by the Governor of the State Bank.