DECISION

ON THE AMENDMENT, SUPPLEMENT OF SEVERAL ARTICLES OF THE REGULATION ON INTER-BANK ELECTRONIC PAYMENT ISSUED IN CONJUNCTION WITH THE DECISION NO. 309/2002/QD-NHNN DATED 9 APRIL 2002 OF THE GOVERNOR OF THE STATE BANK

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam in 1997; the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam in 2003;
- Pursuant to the Law on Credit Institutions in 1997; the Law on the amendment, supplement of several articles of the Law on Credit Institutions in 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19/5/2003 of the Government providing for the function, assignment, authority and the organizational structure of the State Bank of Vietnam;
- Pursuant to the Decree No. 64/2001/ND-CP dated 20/9/2001 of the Government on the payment activities through payment service suppliers;
- Pursuant to the Decision No. 44/2002/QD-TTg dated 21/3/2002 of the Prime Minister on the use of electronic vouchers as accounting vouchers for the accounting and payment of funds by payment service suppliers;
- Upon the proposal of the Director of the Banking Informatics Technology Department,

DECIDES:

Article 1. To amend, supplement several articles of the Regulation on inter-bank electronic payment issued in conjunction with the Decision No. 309/2002/QD-NHNN dated 09/4/2002 of the Governor of the State Bank as follows:

1. Paragraph 17 of Article 2 shall be amended, supplemented as follows:

17. Credit payment order shall be a payment order of the sender to debit a certain amount of money to the senders account at the sender bank, and to credit that amount to the receiver's account at the receiver bank.

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i) To pay for valuable papers that become due as provided for in paragraph 1, Article 27 of this Regulation;

3. Point c, paragraph 1 of Article 20 shall be amended, supplemented as follows:

The phrase Assignment of the approver (account holder or the authorized person) shall be changed into: In respect of the approver (account holder or the authorized person; as for members which are the State Bank, the approver shall be the Head of the unit or the authorized person):

4. Paragraph 3 of Article 20 shall be amended, supplemented as follows:

3. After the approver has completed the verification and stated his secrecy code in the payment order, it shall be printed into 02 copies: one kept as voucher diary, one used as the Debit or Credit advice for customers. Payment orders sent by member banks to the Banking Operation Department, and thereafter, transmitted to the Electronic money transfer system (EMT) of the State Bank, shall be printed into 02 additional copies to be used as accounting vouchers at the EMT system.

5. Article 23 shall be amended, supplemented as follows:

a) The phrase Based on the List drawn by electronic data to perform the control, accounting, auditing and preservation shall be changed into: Based on the List drawn by electronic data (according to forms No: IBP-10, IBP-11, IBP-12, IBP-13, IBP-14, IBP-15, attached with this Regulation) as a basis for the control, accounting, auditing and preservation.

b) Paragraph 3 and paragraph 4 shall be supplemented as follows:

3. To perform the accounting at the Banking Operation Department

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+ In the event where a Credit Order is sent to a beneficiary unit which is located in the same area with the State Bank branch in province, city under the Central Governments management which has participated in the Inter-bank Electronic Payment (IBP) system, the Banking Operation Department shall base on the Credit Order to make following accounting entries:

Debit: Deposit account of the transferring unit;

Credit: Account Outgoing inter-bank documents in current year (sub-account "Money transfer orders received by the State Bank").

+ In the event where a Credit Order is sent to a beneficiary unit which is located in the same area with the State Banks branch in province, city under the Central Governments management which has not participated in the Inter-bank Electronic Payment (IBP) system, the Banking Operation Department shall base on the Credit Order to make following accounting entries:

Debit: appropriate Account (account Deposit of customer);

Credit: Account Outgoing transfer in the current year

4. In the case where the Banking Operation Department receives the Payment Orders from commercial banks for transmitting to the EMT system (the balance of those payment orders has been fully verified and debited to the account deposit of customer), but has not sent the Outgoing Payment order because the time stipulated for sending the Payment Order of the EMT system expires, due to the technical breakdown or other objective reasons.

After the time where the daily transfer of the Outgoing Payment Order of the EMT system is stopped, the Banking Operation Department must inform immediately the Head Office of the commercial banks of the Payment Orders which have not been sent and the reasons thereof. The processing of Payment orders which have not been sent shall be performed as follows:

a) To return the Payment order to customers if they so require and the Banking Operation Department has sufficient time to process. The return of the Payment order must be implemented by drawing the Payment order in accordance with provisions in Article 38 of this Regulation.

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Debit: Account Deposit of the transferring unit;

Credit: Account Other payables to customers

In the following working time, where the break-down has been overcome, the Banking Operation Department must immediately perform the money transfer and record it in the Book for following up the money transfer vouchers which have not been transferred due to the technical break-down or other objective reasons, and at the same time, settle the amount which is temporarily stated in the account Other payables to the customers and make following accounting entries:

Debit: Account Other payables to the customers

Credit: Account outgoing transfer in the current year

6. Point d, paragraph 2 of Article 25 shall be amended, supplemented as follows:

d) Where the Payment order is accepted, the Banking Operation Department shall use the Credit Payment order drawn and sent by the Head office of commercial banks as a basis for the control, then print it out, deduct from the deposit account of the Head office of commercial banks at the Banking Operation Department and draw an outgoing transfer order for the State Bank branches through the EMT system.

7. Paragraph 4 of Article 25 shall be amended, supplemented as follows:

4. Performance of reconciliation

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8. Paragraph 1 of Article 27 shall be amended, supplemented as follows:

1. Valuable papers which are used for the deposit (hereinafter referred to as deposited valuable papers) for the setting up of net debt limit in the clearing settlement include:

a) The State Treasury Bills;

b) The State Bank Bills;

c) The State Treasury Bonds;

d) Bonds for Central Government's projects;

dd) Government Bonds for the construction of the Motherland.;

e) Other valuable papers in accordance with applicable provisions of the State Bank.

Article 2. This Decision shall be effective after 15 days since its publication in the Official Gazette.

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FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Phung Khac Ke