RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of April 27, 2018 No. 75

About establishment of the factors influencing deterioration in financial position of the insurance (reinsurance) organization, insurance group and branch of the insurance (reinsurance) organization – the nonresident of the Republic of Kazakhstan, and also approval of Rules of approval of the actions plan providing measures of early reaction, and the Technique of determination of the factors influencing deterioration in financial position of the insurance (reinsurance) organization (insurance group) and branch of the insurance (reinsurance) organization – the nonresident of the Republic of Kazakhstan

According to the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity" the Board of National Bank of the Republic of Kazakhstan" DECIDES:

1. Establish the following factors influencing deterioration in financial position of the insurance (reinsurance) organization:

1) decrease in the standard rate of sufficiency of margin of solvency of the insurance (reinsurance) organization;

2) decrease in the standard rate of sufficiency of highly liquid assets of the insurance (reinsurance) organization;

3) lack of highly liquid assets for covering of insurance reserves;

4) sufficiency of the amount of the required capital for covering of currency risk;

5) increase in general total placement in securities (taking into account transactions "the return repo"), deposits and money (less doubtful debt allowance) in the banks of the second level having long-term credit rating "In -" and below on the international scale of the Standard & Poor agency "s or rating of similar level of the Moody agencies" of s Investors Service or Fitch (further - other rating agencies), and affiliirovanny persons of data of banks;

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