On Oct. 7, 2025, VIE GVT published the finalized circular dated Sep. 30, 2025 on the safety of the people's credit fund system, which will be effective from Nov. 15, 2025.
In addition, VIE CB issued a press release dated Oct. 2, 2025 on the finalized circular.
Document dated Sep. 30, 2025, received from VIE GVT Oct. 7, summarized on Oct. 8.
On Jun. 20, VIE CB proposed revision to ensure safety of credit fund.
VIE CB proposed circular amending provisions of circular 27/2024/TT-NHNN regarding regulation of cooperative banks; the deduction, management, and use of the people's credit fund (PCF), aiming to ensure the safety and continuity of the system.
Follows VIE CB Mar. 2024 drafted rules re management, use of credit fund, #205671.
Proposal
Introduces a fast-track process where the VIE CB must issue a duplicate cooperative's bank license within 2 working days if the original is lost, damaged, or unusable.
A bank may increase charter capital using State support funds; its duties now include enhanced inspections, formal supervisory role over PCFs, with reporting to VIE CB.
New rules standardize handling of unusable PCF passbooks, bank may open payment accounts at any institution offering account-based services to enhance flexibility.
A bank may trade VIE CB bills and credit institution bonds, and invest in government, government-guaranteed, and local bonds to expand liquidity and investment options.
Redefined roles of VIE CB’s Inspectorate, regional branches in inspecting, approving, and supervising operations of cooperative banks and in managing their reports and license duplicates.
Consultation Period
Comment period of the consultation is not specified.
Sep. 2025 Circular Finalized
On Sep. 30, 2025, VIE CB finalized the circular amending circular 27/2024/TT-NHNN.
The circular stipulates the subject, scope, duration of inspections of the PCF, appointment of personnel for VIE CB, supervision of the PCF, responsibilities of units.
The circular will take effect from Nov. 15, 2025.
Document dated Oct. 2, 2025, received from VIE CB Sep. 30, summarized on Oct. 7.
Oct. 2025 VIE GVT Publish Circular
On Oct. 7, 2025, VIE GVT published the finalized circular dated Sep. 30, 2025 on the safety of the people's credit fund system, which will be effective from Nov. 15, 2025.
In addition, VIE CB issued a press release dated Oct. 2, 2025 on the finalized circular.
Document dated Sep. 30, 2025, received from VIE GVT Oct. 7, summarized on Oct. 8.
