Vietnam’s Circular No. 01/2014/TT-NHNN: 04 responsibilities of keepers of vaults

According to Article 19 of Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, the vault keepers of Transaction Centers, the State Bank’s branches, credit institutions, branches of foreign banks being responsible for ensuring absolute safety for all types of assets preserved in vaults, shall be obligated to:

- Conduct the exit and entry of cash, precious assets and valuable papers precisely, timely and completely in compliance with orders of competent levels, valid and legal accounting documents;

- Open cash books, books tracking each type of money and each type of asset; the vault tags; other necessary books; record and preserve books and papers completely, precisely and clearly;

- Organize arrangement of cash, precious assets and valuable papers in vaults neatly, scientifically to ensure sanitary of vaults; propose necessary measures to ensure quality of cash, precious assets and valuable papers stored in vaults;

- Control and keep keys of one lock of the outside wing of vault doors preserving received assets, locks of vault doors and means preserving assets in vaults (safe boxes, iron cabinets).

Moreover, Circular No. 01/2014/TT-NHNN also stipulates that:

- Keepers of vaults of the State Bank’s branches shall preserve cash under the issue preservation funds; gold, types of precious stones and metals and other assets.

- The Central vault shall have a number of keepers: the keeper of the issuing preservation funds, the keeper for precious assets, and the keeper for valuable papers. Each keeper shall be responsible for assets within his/her assigned scope and perform his/her tasks.

- There are some vault assistants to help the vault keeper in counting, packaging, loading, transporting cash, precious assets and valuable papers.

View other provisions at Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, effective from February 20, 2014.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE