RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 28, 2022 No. 2022-P-12/83-6-(NPA)

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

According to Articles 5, "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides 9 and 64 constitutional Laws of the Kyrgyz Republic:

1. Make changes to the following resolutions of Board of National Bank of the Kyrgyz Republic (are applied):

- "About approval of the Provision "About Committee on Supervision of National Bank of the Kyrgyz Republic" of March 19, 2005 No. 6/2;

- "About approval of the Provision "About Direct Banking Supervision" of May 28, 2008 No. 22/4;

- "About approval of the Provision "About Liquidation of Banks" of June 8, 2017 No. 2017-P-12/23-5-(NPA);

- "About approval of the Provision "About Temporary Administration" of June 8, 2017 No. 2017-P-12/23-8-(NPA);

- "About the Provision "About the Corrective Actions Applied to the Banks Licensed by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-4-(NPA);

- "About approval of the Provision "About Procedure for Carrying Out Separate Banking Activities by Banks of the Kyrgyz Republic in case of Introduction of the Mode of Temporary Administration or Began Liquidation Procedures" of June 15, 2017 No. 2017-P-12/25-9-(NPA).

2. This resolution becomes effective after 15 (fifteen) days from the date of official publication.

3. To legal management:

- from the date of receipt of the relevant documents within 3 (three) working days to 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 management of methodology of supervision after official publication within 3 (three) working days to bring this resolution to the attention of OYuL "Union of Banks of Kyrgyzstan", JSC National Bank of Development of the Kyrgyz Republic, commercial banks, OYuL "Association of the Microfinancial Organizations", JSC Finance Company of Credit Unions, JSC Garantiyny fond, OYuL "National Association of Credit Unions and Cooperatives", OYuL "Association of Users Credit Information", non-bank and specialized financial credit institutions, structural divisions, regional managements and representative office of National Bank in Batken Province.

5. To management of payment systems of National Bank of the Kyrgyz Republic after official publication within 3 (three) working days to bring this resolution to the attention of payment institutes and operators of payment systems.

6. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising management of methodology of supervision.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of December 28, 2022 No. 2022-P-12/83-6-(NPA)

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

1. Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Committee on Supervision of National Bank of the Kyrgyz Republic" of March 19, 2005 No. 6/2 the following changes:

in the Provision "About Committee on Supervision of National Bank of the Kyrgyz Republic" approved by the above-stated resolution:

- subitem "d" of Item 2.1. state in the following edition:

"e) introduction of the restrictions and prohibitions established in the Law of the Kyrgyz Republic "About banks and banking activity" and/or in the legislation of the Kyrgyz Republic for banks, their shareholders and NFKO;";

- paragraphs the third and fourth Item 2.1-1. state in the following edition:

"-on quarterly basis information on observance/non-compliance with banks/NFKO of economic standard rates, requirements and restrictions on results of inspection checks and external supervision, and also on results of application of regulating supervising measures concerning banks, NFKO, credit bureaus, and also exchange bureaus, including information of regional managements of National Bank and representative office of National Bank of the Kyrgyz Republic in Batken Province;

- on semi-annual basis information on observance/non-compliance with NFKO of economic standard rates, requirements and restrictions, information on results of inspection checks and external supervision, and also on results of application of regulating supervising measures concerning NFKO and exchange bureaus represented by heads of departments of supervision of regional managements and the director of representative office of National Bank of the Kyrgyz Republic in Batken Province in the respective regions.";

- in Item 2.2.:

state the subitem "v" in the following edition:

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