RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of March 6, 2023 No. 75

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:

in item 4:

add part one with the paragraph of the following content:

"cost efficiency of transfer of function on outsourcing.";

the second to state part in the following edition:

"In case of the choice of the outsourcing organization bank:

carries out comprehensive assessment of cost efficiency of transfer of function on outsourcing with reasons for the choice of the outsourcing organization and informs the board of directors (supervisory board) of bank on results of the specified assessment;

estimates probability of violation of continuity and (or) steady functioning of bank in case of realization of risks at the outsourcing organization, and also at persons involved by the outsourcing organization for accomplishment of the functions of bank connected with the banking activities performed by it.";

to add part one of Item 6 with the paragraph of the following content:

"information on cumulative share of direct and (or) indirect participation of bank in authorized capital of the outsourcing organization.".

2. This resolution becomes effective in month after its official publication.

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