RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 23, 2018 No. 2018-P-15/18-1-(NPA)

About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic

According to articles 20 and 68   of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Make changes to the following regulatory legal acts of National Bank of the Kyrgyz Republic (are applied):

- The resolution of Board of National Bank of the Kyrgyz Republic "About approval of Rules of registration of mortgage providing in the form of the government securities placed through National Bank of the Kyrgyz Republic on interbank credit operations" of June 30, 2010 No. 52/1";

- The resolution of Board of National Bank of the Kyrgyz Republic "About approval  of the Provision "About Depositary Accounting of the Government Securities Placed through National Bank of the Kyrgyz Republic" of March 28, 2013 No. 10/9".

2. This Resolution becomes effective after fifteen days from the date of official publication.

3. To legal management:

- publish this Resolution on the official website of National Bank of the Kyrgyz Republic;

- after official publication to send this Resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. To department of development of state language and document flow of National Bank of the Kyrgyz Republic to bring this Resolution to the attention of commercial banks and relevant structural divisions of National Bank of the Kyrgyz Republic.

5. To impose control of execution of this Resolution on the vice-chairman of National Bank of the Kyrgyz Republic - to Tezekbayev A. S. 

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of May 23, 2018 No. 2018-P-15/18-1-(NPA)

Changes in some regulatory legal acts of National Bank of the Kyrgyz Republic

1. Bring in the Resolution of Board of National Bank of the Kyrgyz Republic "About approval of Rules of registration of mortgage providing in the form of the government securities placed through National Bank of the Kyrgyz Republic on interbank credit operations" of June 30, 2010 No. 52/1" the following changes:

- in the name and in Item 1 of the Resolution "state" to exclude the word;

in Rules of registration of mortgage providing in the form of the government securities placed through National Bank of the Kyrgyz Republic on interbank credit operations, approved by the above-stated Resolution:

- in the name, in all text and in Appendix 2 "state" to exclude the word;

- in all text and in Appendices to replace abbreviation of "GTsB" with abbreviation of Central Bank;

- in all text and in Appendices 1, of 2,  to replace 4 words "Depositary of GTsB" in different numerical and case forms with the word "Depositary" in the corresponding numerical and case forms;

- in Appendices 1, of 2,  to replace the 4th word "catfish" with the word "currency".

- state Item 2 in the following edition:

"2. These rules are developed for the purpose of streamlining of process of registration of pledge agreements in National Bank of the Kyrgyz Republic (further - National Bank), pledge subject in which are the government securities of the Government of the Kyrgyz Republic and note of National Bank (further - the Central Bank) placed through National Bank and considered in depositary in National Bank on interbank credit operations and also actions in relation to mortgage property in cases of execution or non-execution of the obligation provided with pledge.";

- in Chapter 2 paragraph one to state in the following edition:

"The securities placed through National Bank - the government securities issued by the Ministry of Finance of the Kyrgyz Republic on behalf of the Government of the Kyrgyz Republic and note of National Bank.";

- in paragraphs four, the fifth shall be replaced with words words of "The primary dealer or financial credit institution" "Working interest owner";

- in paragraph six, the ninth the words "Primary dealer" in different cases shall be replaced with words "Working interest owner" in the corresponding cases;

- to state the paragraph of the seventh in the following edition:

"Working interest owner - the commercial bank licensed by National Bank, having the correspondent/current account in National Bank, Social fund of the Kyrgyz Republic, the State accumulation pension fund under Social fund of the Kyrgyz Republic, Central Depositary Ltd and Agency on protection of the deposits of the Kyrgyz Republic which signed with National Bank the relevant agreement on work in the market of the Central Bank, placed through National Bank.";

- the tenth to declare the paragraph invalid;

- state Item 3 in the following edition:

"3. The pledge agreements signed between the Working interest owners having depot account in Depositary are provided in National Bank and are registered in National Bank in case of the conclusion of the transaction out of the Automated trade system (further - automatic telephone exchange).";

- in figure Items 8 and 11 "15.30 h" to replace with figures of "17.00 h".

- state Item 9 in the following edition:

"9. The National Bank checks in the provided pledge agreements availability specified in them to the Central Bank depot accounts of the Pledger in Depositary. Registration of the Pledge agreement is performed in automatic telephone exchange, work of automatic telephone exchange is regulated by the Resolution of Board. In the pledge agreement the record about date and number of their registration certified by the signature of the controller of Depositary is made. One copy of the pledge agreement remains in National Bank, the second and third copies are transferred to the Pawnbroker and the Pledger respectively.";

- in the paragraph the second Item 10 of the word "the legislation of the Kyrgyz Republic and" to exclude;

- the paragraph one of Item 12 to add with the offer the second the following content:

"Additional pledge of securities and/or their partial release to the current agreement about pledge is made on the basis of the Supplementary agreement to the Pledge agreement (Appendix 5).";

- state Item 13 in the following edition:

"13. For registration of pledge agreements in National Bank collection in the amount of 300 som is established.";

- state Item 15 in the following edition:

"15. Voluntary transfer of the securities which are on the mortgage sub-account of the Pledger into the investment sub-account of the Pawnbroker or into general sub-account the Managing director of pledge in Depositary on account of repayment of obligations can be made by National Bank at the request of the Pawnbroker or the Managing director of pledge approved with the Pledger (appendix 4), in day of its receipt.";

- Rules to add with Appendix 5 of the following content: 

Appendix 5

to Rules of registration of mortgage providing in the form of the securities placed through National Bank of the Kyrgyz Republic

Standard supplementary agreement No. _______

to the Pledge agreement from _____________

Bishkek                                                               from _____ __________________ _______.

National Bank of the Kyrgyz Republic, hereinafter referred to as "National Bank" or "Pawnbroker", on behalf of ______________________________________________, acting on the basis of the _____________________________________________________ and the order of National Bank from ________________________________________________, with one party, and _______________________________, hereinafter referred to as "Bank" or "Pledger", on behalf of _____________________________, acting on the basis The charter, on the other hand, further jointly referred to as "Parties", in connection with ____________________________ according to the Credit agreement from ______________ signed this Supplementary agreement (further - the Supplementary agreement) to the Pledge agreement from _____________________ (further - the Pledge agreement) as follows: 1. Item 1. State pledge agreements in the following edition: "1. In ensuring accomplishment of obligations of the Pledger according to the Credit agreement, the Pledger pledges to the Pawnbroker following securities (further - the Central Bank) on total nominal value in the amount of ___________ (Sum in words) of som, the following releases and in the following amounts: № Registration number Date of issue of the Central Bank Repayment date of the Central Bank Number of the Central Bank (pieces) Nominal price is 1 Central Bank (currency) Nominal value of the Central Bank (currency) 1             2             3               Total:           2. Other terms of the contract about pledge remain invariable. 3. This Supplementary agreement is integral part of the Pledge agreement. 4. This Supplementary agreement is constituted in 3 (three) copies having identical legal force: 1 (one) copy - for storage in Bank, 1 (one) copy - for submission to the relevant authorized bodies for registration, 1 (one) copy - for storage in National Bank.
Legal addresses, details and signatures of the parties
National Bank:	Bank:
Signer	Signer
__________________ M.P.	__________________ M.P.".

2. Bring in the Resolution of Board of National Bank of the Kyrgyz Republic "About approval  of the Provision "About Depositary Accounting of the Government Securities Placed through National Bank of the Kyrgyz Republic" of March 28, 2013 No. 10/9" the following changes:

- in the name and in Items 1 and 6 of the Resolution "state" to exclude the word;

in the Provision "About Depositary Accounting of the Government Securities Placed through National Bank of the Kyrgyz Republic" approved by the above-stated Resolution:

- in the name and in all text of the Provision "state" to exclude the word;

- in all text of the Provision and Appendices 1, 2:

- abbreviation of "GTsB" shall be replaced with words "securities" in the corresponding cases;

- in all text of the Provision "Depositary of GTsB" in different numerical and case forms to replace the word and abbreviation with the word "Depositary" in the corresponding numerical and case forms;

- in all text of Appendices 1, 2:

- exclude the words "Department of Refinancing and Placement of Securities";

- to exclude abbreviations and the word "GKV, State Treasury Bills, Notes";

- to exclude abbreviation and the word "GKV/notes";

- state Item 2 in the following edition:

"2. This Provision determines procedure for conducting depositary accounting of the securities (further - the Central Bank) placed through National Bank in the automated trade system of National Bank (further - automatic telephone exchange).";

- state Item 7 in the following edition:

"7. The securities placed through National Bank - the government securities issued by the Ministry of Finance of the Kyrgyz Republic on behalf of the Government of the Kyrgyz Republic and note of National Bank.";

- in paragraph one of Item 19 of the word "financial credit institutes" shall be replaced with words "financial credit institutions";

- the fourteenth Item 26 to state the paragraph in the following edition:

"On subbalance "Mortgage without transition of the property right to the Central Bank" are considered by the Central Bank, blocked for benefit of the pawnbroker. Cannot be used by the Central Bank from this subbalance for current transactions of purchase, sale, pledge and intra position transfers.";

- the fifteenth Item 26 to state the paragraph in the following edition:

"Subbalans mortgage with transition of the property rights" is used for accounting of the Central Bank, pledged within the credits "intra day" and "overnight" which cannot be used for current transactions of purchase, sale, pledge and intra position transfers. Are transferred to the Central Bank to this subbalance after issuance of credits.";

- state Item 32 in the following edition:

"32. The basis for making of transaction on closing of accounts of "depot" are the documents processed according to the corresponding regulatory legal acts of the Kyrgyz Republic and agreements".

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