Approved by the Resolution of Board of National Bank of Tajikistan of October 17, 2005 No. 290

The instruction No. 143 about establishment of limits of open foreign exchange position and control of their observance by authorized banks of the Republic of Tajikistan

According to Item 6 of article 45 of the Law of the Republic of Tajikistan "About National Bank of Tajikistan" and part 3 of article 4 of the Law of the Republic of Tajikistan "About currency control and currency exchange control" and article 29 of the Law of the Republic of Tajikistan "About banks and banking activity" the National Bank of Tajikistan this Instruction sets limits of open foreign exchange position and procedure for their maintaining for the authorized banks operating in the territory of the Republic of Tajikistan.

I. General provisions

1. Authorized banks - bank or other authorized non-bank financial organization, the obtained License of National Bank of Tajikistan for the right of making of banking activities in foreign currency.

2. Open foreign exchange position - difference of remaining balance of assets and off-balance transactions which increase assets and liabilities and off-balance transactions which increase liabilities in different foreign currencies. The open foreign exchange position can be two types: short and long.

3. The short open foreign exchange position - open foreign exchange position in separate foreign currency turns out when liabilities exceed assets and also when off-balance transactions which increase liabilities exceed off-balance transactions which increase assets in this foreign currency.

4. The long open foreign exchange position - open foreign exchange position in separate foreign currency turns out when assets exceed liabilities and also when off-balance transactions which increase assets exceed off-balance transactions which increase liabilities in this foreign currency.

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