RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 7, 2020 No. 386

About change of the resolution of Board of National Bank of the Republic of Belarus of January 8, 2020 No. 1

Based on paragraphs of the third and eighth the Board of National Bank of the Republic of Belarus DECIDES: parts four of article 34 of the Bank code of the Republic of Belarus

1. Bring in the Instruction about risk management when outsourcing approved by the resolution of Board of National Bank of the Republic of Belarus of January 8, 2020 No. 1, the following changes:

state Items 1 and 2 in the following edition:

"1. This Instruction establishes requirements to the organization by bank, "Development Bank of the Republic of Belarus" open joint stock company, non-bank credit and financial organization (further, unless otherwise specified, - bank) risk managements when outsourcing.

2. For the purposes of this Instruction outsourcing is understood as transfer of third party by bank or to person performing activities as the individual entrepreneur (further - the outsourcing organization), for accomplishment completely or partially separate functions, business processes, types of activity constituting their works, services (further - functions), in case of simultaneous observance of the following conditions:

contractual relations of bank and outsourcing organization have long nature and (or) the conclusion of contracts between them is performed on regular basis;

the function of bank transferred for accomplishment by the outsourcing organization is connected with the banking activity performed by it;

the bank transfers to the outsourcing organization the customer information of bank and (or) other data which are bank or other secret protected by the law, or provides access to such information or data otherwise.

The bank has the right to determine in the local legal acts other conditions and procedure for their application for reference of functions to the functions transferred to outsourcing in addition to the conditions specified in part one of this Item.";

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