Managing serial number of freshly printed banknotes in banknote delivery in Vietnam as of May 14, 2024

Managing serial number of freshly printed banknotes in banknote delivery in Vietnam as of May 14, 2024

Regulations on managing serial number of freshly printed banknotes in banknote delivery in Vietnam are as follows:

- During delivery of freshly printed banknotes

+ Printing, minting facilities shall delivery freshly printed banknotes to the State Bank of Vietnam (Issue and Vault Department); deliver and receive freshly printed banknotes from Central Reserves; deliver and receive freshly printed banknotes between Central Reserves and Central Banking Department and SBV branches; deliver and receive freshly printed banknotes between SBV branches.

Transferors of freshly printed banknotes must produce schedules of serial number of bank notes specified under Point c of this Clause and record of delivery or notice of storage withdrawal. Recipients of freshly printed banknotes must inspect and examine the schedules and the contents; where errors are found, the recipients must inform the transferors to amend and stay in line with actual delivery contents;

+ Where freshly printed banknotes are issued from Reserve Funds for Issuance to Issuing Funds at SBV branches and vice versa, keepers of transferors shall produce schedules on serial number of the banknotes involved in accordance with Point c of this Clause. Keepers of recipients must inspect and examine the schedules and the contents; where errors are found, the recipients must inform the transferors to amend and stay in line with actual delivery contents;

+ Schedules on serial number must be signed by keepers of the transferors and accurately denote: The transferor, the recipient, type of banknotes, quantity, prefixes, year of production, symbol of packaging, envelop, bundle, or other packaging methods stipulated by the SBV. The Schedule is made into 2 copies where the transferor and recipient keep 1 copy each.

- Responsibility to monitor, manage, and record information on serial number of freshly printed banknotes

+ The transferor and recipient are responsible for monitoring, managing, and recording information on serial number of packages, envelops, and bundles of freshly printed banknotes that they have transferred and received;

+ Where Central Banking Department and State Bank of Vietnam branches issue freshly printed banknotes in sealed packages to credit institutions, foreign bank branches, the State Treasury, and other entities, the transferor is responsible for managing, recording information on serial number of freshly printed banknotes issued to the aforementioned recipients.

More details can be found in Circular 01/2024/TT-NHNN effective from May 14, 2024 and replacing Decision 28/2007/QD-NHNN dated June 21, 2007.

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