THE STATE BANK OF VIETNAM
Circular No. 10/2014/TT-NHNN dated 20 March 2014 of the State Bank of Vietnam amending and supplementing several accounts in the accounts system of credit institutions issued in conjunction with the Decision No. 479/2004/QD-NHNN
Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 in 2010;
Pursuant to the Law on Credit institutions No. 47/2010/QH12 in 2010;
Pursuant to the Law on Accounting No. 03/2003/QH11 in 2003;
Pursuant to the Decree No.156/2013/ND-CP dated 11 November 2013 of the Government providing for the functions, duties, authorities and organizational structure of State Bank of Vietnam;
Upon proposal by the Director of Finance - Accounting Department;
The Governor of the State Bank hereby issues the Circular on the amendment of, supplement to some accounts in the accounts system of Credit institutions issued in conjunction with the Decision No. 479/2004/QD-NHNN dated 29/4/2004 by the Governor of the State Bank.
Article 1. To repeal some accounts in the accounts system of credit institutions issued in conjunction with the Decision No. 479/2004/QD-NHNN as follows:
1. To repeal Account 312- “Value of working tools in use which have been charged to the expenditures”.
2. To repeal Account 399- “Provision against risk of receivable interests”
3. To repeal Account 472- “Purchase, sale of foreign currency from other sources”.
4. To repeal Account 479- “Conversion of foreign currency for domestic payment”.
5. To repeal Account 481- “Funds received for syndicated lending in VND”.
6. To repeal Account 482- “ Funds received for syndicated lending in foreign currency”.
7. To repeal Account 483- “ Receiving funds entrusted for investment, lending in VND”.
8. To repeal Account 484- “ Receiving funds entrusted for investment, lending in foreign currency”.
9. To repeal Account 561- “ Conversion of foreign currency for payment”.
10. To repeal Account 62- “ Bonus and Welfare Fund”.
11. To repeal Account 704- “ Interest Income from capital contribution, share purchase”.
12. To repeal Account 712- “ Income from guarantee operation”.
13. To repeal Account 855- “ Payment for social activities”.
14. To repeal Account 8692- “Payment for healthcare”.
15. To repeal Account 921- “ Commitment on the guarantee issued for customers”.
16. To repeal Account 925- “ Commitment on financing to customers”.
Article 2. To amend, supplement some details in the Accounts system of credit institutions issued in conjunction with the Decision No. 479/2004/QD-NHNN as follows:
1. To amend, supplement Section I - General regulations as follows:
a. To amend Item 1 as follows:
“This accounts system shall be applicable to credit institutions, foreign bank branches (hereinafter collectively referred to as credit institutions) which are established and operate in accordance with the Law on Credit institutions.”;
b. To supplement the followings to end of Item 5:
“Additionally, credit institutions may open extra detailed accounts according to operational management requirements upon necessity.”’
c. To amend Item 6.2 as follows:
“The accounting on the off-balance sheet accounts shall be made-is made under the single entry method (Debit - Credit - Debit balance)”;
d. To amend Item 7 as follows:
