RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 23, 2013 No. 52/9

About approval of the Provision "About the International Transactions of Commercial Banks"

According to articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About the International Transactions of Commercial Banks" it (is applied).

2. Declare invalid the Resolution of Board of National Bank of the Kyrgyz Republic of November 25, 2004 No. 30/6 "About approval of the Regulations on the reporting under the international transactions of bank", registered in the Ministry of Justice of the Kyrgyz Republic on December 24, 2004, registration number 149-04.

3. This Resolution becomes effective since July 1, 2014.

4. To legal management:

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

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

5. To management of financial statistics and overview to bring this Resolution to the attention of commercial banks.

6. To management on automation of activities of bank to upgrade the software for data collection and processing and creation of the reporting according to this Resolution till July 1, 2014.

7. To impose control of execution of this Resolution on the Vice-chairman of National Bank of the Kyrgyz Republic Abdybala тегин Page.

It is approved by the Resolution of Board of National Bank of the Kyrgyz Republic of December 23, 2013 No. 52/9

Regulations on the international transactions of commercial bank

Chapter 1. General provisions

1. This Provision determines forms and procedure for representation of the Kyrgyz Republic by commercial banks (further - banks), information on movement of foreign assets and obligations, the income and expenses on them, and also equity of banks and profit distributions for creation of the Paying balance of the Kyrgyz Republic.

2. The National Bank guarantees confidentiality of the data obtained according to this Provision. The obtained data will be reflected in paying balance of the Kyrgyz Republic only in summary form without identification of separate banks.

Chapter 2. Basic concepts

3. For the purpose of this provision the following determinations are used:

1) the Paying balance of the Kyrgyz Republic is the statistic report reflecting in total type economic transactions between residents and nonresidents of the Kyrgyz Republic for certain period of time.

2) Residents are:

- the physical persons who are constantly living in the Kyrgyz Republic, including temporarily being outside the Kyrgyz Republic less than one year. Foreign physical persons are residents of the Kyrgyz Republic if they live, or intend to live over one year in the Kyrgyz Republic, except employees of diplomatic and other representations of foreign states;

- the legal entities created according to the legislation of the Kyrgyz Republic with the location in the Kyrgyz Republic;

- branches and representations of foreign legal entities created according to the legislation of the Kyrgyz Republic with the location in the Kyrgyz Republic.

3) Nonresidents are the persons which are not residents including diplomatic and other representations of the foreign states and the international organizations which are in the Kyrgyz Republic.

4) Foreign investments to the Kyrgyz Republic are money and material deposits to the sphere of economic and other activity, and also transfer of the intellectual property right foreign states, legal entities and citizens.

5) Foreign investors in the Kyrgyz Republic are the foreign states, the international organizations, foreign legal entities and citizens performing investments in the territory of the Kyrgyz Republic.

6) the Direct foreign investor - the nonresident who possesses 10% and more bank stock.

7) the Companies of foreign investment - the nonresident company in which the bank makes investments.

8) The other foreign investor - the nonresident who possesses less than 10% of bank stock.

9) Not participating preferred shares are the bank shares which are providing the fixed income, but not granting the participation right in distribution of residual cost of bank in case of its liquidation.

The Companies of direct investment include 10):

Affiliated enterprises are the nonresident companies in which the bank owns more than 50 percent of shares (or other equivalent of such participation) over which the bank can exercise control. The nonresident companies in which the bank and its affiliated enterprises jointly own, at least, 50 percent of shares, granting voting power also treat affiliated enterprises.

Associates - the nonresident companies concerning which the bank owns more 10, but less than 50 percent of shares or equivalent of such participation and over which the bank can have considerable extent of influence, but does not exercise control. The nonresident companies in which the bank and its affiliated enterprises jointly own, more 10, but less than 50 percent of shares, granting voting power also treat associates.

11) Other overseas enterprises are overseas enterprises in which share the investor (this case bank) owns less than 10 percent of shares or other equivalent of such participation.

12) the Sisterly companies are the companies which are under control or influence of the same direct or indirect investor, but have no control or influence at each other, i.e. these are the structures having one general direct investor.

13) the Final controlling mother company - the first company in chain of the relations of direct investment being the final investor which exercises control over adoption of the investment decision of the companies of direct investment. It is determined by transit up from the direct direct investor by chain of the relations of property where each link determines control over the subsequent link.

14) Other instruments of equity participation are instruments of equity participation of the securities which do not have the forms (departments, limited liability partnerships, etc.).

15) the Return transactions are the arrangements which are providing change of legal property on securities or gold and including obligations about repurchasing of the same or similar securities or gold or for the established date or through uncertain term. They include agreements on repurchasing of securities, gold swaps, provision of securities on credit and loans in gold.

16) Neutral transactions are transactions which content consists in funds transfer between the correspondent accounts of foreign banks opened in one resident bank or between correspondent accounts of foreign banks in different nonresident banks, and also funds transfer between correspondent accounts of nonresident banks abroad are considered as neutral transactions for paying balance. As neutral transactions are reflected:

- exchange of one non-cash foreign currency for other non-cash foreign currency (sale and purchase of currencies);

- transfer operations of currency from non-cash form in the same currency in cash form or on the contrary (cashing in of currencies);

- movement of cash from one correspondent account on other correspondent account (replenishment of correspondent account);

- revenues (write-off) to correspondent account of one bank of money for benefit of other bank (intermediary transactions).

Chapter 3. Procedure and terms of submission of the report

4. The personal responsibility for completeness of content, terms of representation and correctness of filling of the report, is born directly by the head of bank. Besides in each bank there shall be nominated person responsible for interaction with structural division of National Bank on all questions concerning submission of the report.

5. The report is submitted electronically (and the electronic form shall be followed by the electronic and digital signature and have the standard name, for example pb 1430113, where the first three figures designate bank code, the fourth and fifth figures designate sign of quarter, and the subsequent two figures are specified sign of accounting year). The bank, in case of non-presentation, untimely provision of the report, or provision of the report containing obviously false data bears responsibility according to the legislation of the Kyrgyz Republic and regulations of National Bank.

6. The report is submitted in National Bank quarterly within 20 calendar days from the date of the termination of reporting quarter. In case of identification by the staff of National Bank of mistakes in the provided reporting, banks shall modify mistakes and send to National Bank the corrected reporting within three working days after the notification on availability of mistakes.

Chapter 4. Contents of the report

7. The report submitted by bank shall contain:

1) Section I "Information on the capital of bank". This Section is filled in only with banks with participation of the foreign capital. Data need to be shown in nominal of currencies, to within two signs after comma. Data on this Section are shown as of the beginning of the accounting period, by the end of the reporting period, and also movement of means and other changes during the accounting period is shown. Other changes reflect revaluation owing to change of monetary value of financial asset or the obligation because of changes in level or structure of the price (to reflect increase in asset with the sign "+", reduction of asset with sign" -"). Data on foreign nonresident investors should be shown separately over each country, and it is necessary to fill only the cells located below the main;

2) Section II "Dividend distribution to shareholders of bank". This Section is filled in only with banks with participation of the foreign capital. Data need to be shown in nominal of currencies, to within two signs after comma. Data on foreign nonresident investors should be shown separately over each country of the nonresident investor, and it is necessary to fill only the cells located below the main;

3) Section III "Information on participation of bank in the capital of overseas enterprise". This Section is filled in only with the banks having equity interest of overseas enterprise. Data need to be shown in nominal of currencies, to within two signs after comma. Data are specified as of the beginning of the accounting period, by the end of the reporting period, and also movement of means and other changes during the accounting period is shown. Other changes reflect revaluation owing to change of monetary value of financial asset because of changes in level or structure of the price (to reflect increase in asset with the sign "+", reduction of asset with sign" -"). The investments this on overseas enterprises should be shown separately over each country of the nonresident company, according to the name of the company, with indication of share in the capital as a percentage to fill only the cells located below the main;

4) the Section IV "The distributed dividends of the nonresident companies". This Section is filled in only with the banks having equity interest of overseas enterprise. Data need to be shown in nominal of currencies, to within two signs after comma. Data on foreign - the companies of investment should show separately over each country of the nonresident company, according to the name of the company, with indication of share in the capital, and it is necessary to fill only the cells located below the main;

5) Section V "Movement of foreign assets of bank". Data need to be shown in terms of currencies, to within two signs after comma. Data should be shown for the beginning and the end of the accounting period, and also on movement of means and other changes during the accounting period. Other changes reflect revaluation owing to change of monetary value of financial asset because of changes in level or structure of the price, or return of mistakenly transferred amounts (to reflect increase in asset with the sign "+", reduction of asset with sign" -"). Data should be shown separately over each country, according to the name of the partner and by currencies in which operations were performed (except the Kyrgyz Republic), and it is necessary to fill only the cells located below the main;

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