RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 15, 2023 No. 2023-P-17/16-4-(NPA)

About the minimum size authorized and own (regulating) capitals of commercial banks

According to Articles 5, "About National Bank of the Kyrgyz Republic" and article 21 of the Law of the Kyrgyz Republic "About banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides 9 and 64 constitutional Laws of the Kyrgyz Republic:

1. Establish the minimum size of the authorized capital for newly created commercial banks (including the requirement to the capital of branches of foreign banks) in the amount of at least 1 billion som.

2. Establish for the operating commercial banks (including branches of foreign banks) the following minimum sizes of the authorized capital in the following terms:

- since April 1, 2023 - 600 million som;

- since July 1, 2024 - 800 million som;

- since July 1, 2026 - 1 billion som.

3. Establish for the significant commercial banks operating systemically (including branches of foreign banks) the minimum size of the authorized capital in the amount of 2 billion som with forming term till July 1, 2023.

4. Determine that if commercial bank it becomes system significant, then within one year from the date of the notification National Bank about compliance to criteria of the system importance the commercial bank shall bring the size of the authorized capital to the established requirement.

5. Establish the economic standard rate by the minimum size of own (regulating) capital for the newly created and operating commercial banks (including branches of foreign banks) in the amount of at least minimum size of the authorized capital established for newly created commercial banks according to Item 1 of this resolution, and the operating commercial banks, according to Items 2 and 3 of this resolution.

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