Principles for implementing treasury service provision by banks in Vietnam from February 14, 2025

Principles for implementing treasury service provision by banks in Vietnam from February 14, 2025

Circular 60/2024/TT-NHNN stipulates the provision of treasury services by commercial banks, branches of foreign banks, cooperative banks for credit institutions, and other foreign bank branches in Vietnam.

The principles for implementing treasury service provision by banks in Vietnam are regulated as follows:

(1) The service provider is only permitted to provide treasury services when:

- The establishment and operation license of the commercial bank, cooperative bank, or the establishment license of the foreign bank branch includes permission to provide treasury services to credit institutions and other foreign bank branches;

- There are internal regulations and procedures for each type of treasury service offered to ensure the asset security for both the service provider and the service user.

(2) When implementing treasury services, the service provider must have facilities that meet the requirements for providing treasury services, including:

- In the case of providing asset transportation services, money transport vehicles must be equipped according to the standards set by the State Bank. If using other means (besides money transport vehicles) to transport cash, valuable assets, or securities, the service provider must establish written regulations and procedures for transportation, protection, and safety measures for assets;

- In the case of asset preservation, money storage facilities must meet the technical standards as prescribed by the State Bank;

- Equip various types of equipment, machinery, and devices suitable for each type of treasury service provision;

- Have a payment, accounting, and cash management system when providing treasury services.

More details can be found in Circular 60/2024/TT-NHNN, effective from February 14, 2025.

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