RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of April 20, 2022 No. 2022-P-12/25-2-(NPA)

About additional temporary solutions of National Bank of the Kyrgyz Republic concerning classification of assets

For the purpose of preserving stability in bank system and according to Articles 20, "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides 68 and 87 Laws of the Kyrgyz Republic:

1. The commercial banks participating in project implementation "Crediting of agro-industrial complex" (further - the program):

1) can classify part of the asset provided with guarantee of the Fund created within the interstate (intergovernmental) agreement (further - Fund) as "normal asset" with forming of reserve on covering of potential losses and losses in the amount of 0 percent, in case of simultaneous observance of all following conditions:

- the amount of the credits guaranteed by Fund shall not exceed balance in cash of Fund, placed in the commercial bank participating in program implementation, more than twice;

- the contract of guarantee between Fund and bank shall provide the right of bank on cash write-off without acceptance on the overdue payments which arose before bank according to the obligations guaranteed by guarantees of Fund from the current accounts of Fund opened and serviced in bank within 5 working days;

- the minimum balance in cash of Fund on current accounts in bank shall be supported at the level of at least 10 percent from book value of the credits of bank issued under guarantee of Fund to complete program implementation;

- in case of cash write-off of Fund without acceptance for the obligations which arose before the bank guaranteed by guarantees of Fund, the Fund shall fill up the current account in bank within three working days at least on the amount of the charged-off money;

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