THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of June 24, 2024 No. 30

About modification of some regulatory legal acts of the Republic of Kazakhstan concerning banking regulation

Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes, according to appendix to this resolution are made.

2. To provide to department of methodology and prudential regulation of the financial organizations in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the action provided by the subitem 2) of this Item.

3. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

4. This resolution becomes effective after ten calendar days after day of its first official publication.

It is approved Ministry of Finance of the Republic of Kazakhstan

It is approved Bureau of national statistics of the Agency on strategic planning and reforms of the Republic of Kazakhstan

 

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of June 24, 2024 No. 30

The list of regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of September 13, 2017 No. 170 "About establishment of normative values and techniques of calculations of prudential standard rates and other regulations and limits, obligatory to observance, the size of the capital of bank and Rules of calculation and limits of open foreign exchange position" (it is registered in the Register of state registration of regulatory legal acts at No. 15886) the following changes:

in Normative values and techniques of calculations of the prudential standard rates and other regulations and limits, obligatory to observance, the size of the capital of bank approved by the specified resolution:

state Item 2 in the following edition:

"2. In Standard rates the following concepts are used:

1) book value - the amount on which the loan is recognized the balance sheet after deduction of the provisions (reserves) created on them;

2) investment loan (credit) - I will jam (credit), conforming to the following requirements:

the term of loan (credit) constitutes 5 (five) and more years;

terms of the contract of loan (credit) establish prohibition on complete early repayment. Partial repayment of loan is performed in the terms and procedure provided by the business plan of the borrower;

the loan (credit) is granted the legal entity according to its business plan providing realization of complex of the actions directed to creation, expansion and upgrade of production of goods, production and transport infrastructure;

3) unsteady types of pledge - the property and money arriving in the future (except for the rights of requirements to the state partner in the cash receipts transfered to account, intended for transfer of compensation of investment costs, under the agreement of public-private partnership signed according to the legislation of the Republic of Kazakhstan which is the key under the agreement of bank loan which conditions are provided in Item 2-1 of Standard rates, and also the money arriving in the future under the ofteyk-contract which is the key under the agreement of bank loan in case of compliance to the conditions provided in Item 2-2 of Standard rates), including under agreements of equity (except for the money arriving under the agreements signed with the companies with the state participation (subjects of the quasi-public sector), insurance contracts (except for the insurance contracts containing Items on unconditional and irrevocable obligation fulfillment concluded with the insurance companies having rating "BB+" of Standard & Poor rating agency "is not lower than s (Standard энд Purs) or the rating of similar level of one of other rating agencies, insurance contracts which conditions are provided in Item 2-1 of Standard rates), guarantee of physical persons or legal entities (except for guarantees of the legal entities having credit rating "BB+" of Standard & Poor rating agency" is not lower than s (Standard энд Purs) or the rating of similar level of one of other rating agencies, guarantees of the banks of the second level having credit rating is not lower "In -" Standard & Poor rating agency "of s (Standard энд than Purs) or the rating of similar level of one of other rating agencies, and also the guarantees issued by national managing directors of holdings and their affiliated organizations), intangible assets, shares in the authorized capital or securities, not included in the official listing of organizers of the biddings of the Republic of Kazakhstan and (or) organizers of the biddings recognized by the international stock exchanges, (except for the share accepted in mortgage providing in the authorized capital and (or) securities of legal entities which have relation of debt on the loans issued on the purposes which are not connected with financing of current assets to profit to deduction of expenses on payment of the added remunerations of tax assignments and charged depreciation (EBITDA) (EBITDA) constitutes no more 4), paper grain receipts (except for the rights of requirements for grain receipts corresponding to conditions, stipulated in Item 2-3 Standard rates), the mortgage providing which is outside the Republic of Kazakhstan (except for the mortgage providing which is in the countries of the Eurasian Economic Union in the presence of the conclusion of legal consultants or specialists of the affiliated organizations of bank according to the right of the said countries confirming proper registration of mortgage providing);

4) unsecured consumer loan – consumer loan, except for:

the loans provided with the pledges of the rights to real estate, the pledge of personal estate which is subject to obligatory state registration, completely covering the amount of the issued loan;

the loans provided with pledge of the rights on the issued securities which are subject to registration, completely covering the amount of the issued loan;

the loans provided with pledge of right to claim under agreements of equity in housing construction, completely covering the amount of the issued loan;

loans on which the money which is completely covering the amount of the issued loan acts as providing;

the loans issued within system of educational crediting;

the loans issued within system of housing construction savings;

5) loan - implementation of banking loan, leasing, factoring, forfaiting activities by bank, accounting of bills of exchange and receivables on earlier issued bank loans;

6) the borrower - the physical person or legal entity which signed the loan agreement (credit);

7) provisions (reserves) - the reserves created under impairment of loan;

8) the co-borrower - the physical person or legal entity which is signing the loan agreement (credit) together with the borrower and acting according to the loan agreement (credit) as the solidary actionee of obligations on return of the received money;

9) regular AQR – the annual quality evaluation of assets and contingent (possible) obligations of banks performed within risk - the oriented supervision;

10) the ofteyk-contract - the agreement on the guaranteed purchase signed between the customer and the potential supplier in the future the goods planned to production;

11) SREP – the annual supervisory process of risks assessment and shortcomings of activities of banks performed within risk - the oriented supervision by quantitative and qualitative analysis of assessment of business model, risks of the capital, liquidity risk, corporate management system of bank.";

state Item 2-2 in the following edition:

"2-2. The money arriving in the future under the ofteyk-contract is excluded from unsteady types of pledge in case of observance of the following conditions:

1) customer is:

the legal entity, more than 50 (fifty) percent of voting shares (shares in the authorized capital) which directly or indirectly belong to the state or national managing holding, or;

public institution, or;

local executive body of area, city of republican value, capital;

the legal entity with rating not below "BB-" of Standard & Poor rating agency "s (Standard энд Purs) or other rating agencies, or;

large systemically important enterprise, or;

the legal entity whose at least 70 (seventy) percent of the income within the last 2 (two) years are created by persons specified in paragraphs the second, third, the fourth, fifth and sixth this subitem;

2) terms of the contract provide obligatory execution by the customer of the obligations to the potential supplier in case of proper execution by the potential supplier of the obligations assumed under the contract;

3) the potential supplier - the borrower has positive credit history according to credit bureau which is expressed in lack of overdue debt more than 60 (sixty) calendar days for the last 2 (two) years.

For the purposes of Standard rates the companies corresponding to the following criteria treat the large systemically important enterprises:

the proceeds from sales of products (rendering services) constitute at least 50 (fifty) billion tenges annually for the last 2 (two) years;

tax assignments constitute at least 3 (three) billion tenges annually for the last 2 (two) years.

During the period from July 1, 2021 to December 31, 2021 inclusive the property which is providing under the agreement of syndicated loan is excluded from unsteady types of pledge in case of observance of the following conditions:

under the agreement of syndicated loan agent bank is the bank having debt rating "BB+" of the Standard & Poor agency "is not lower than s (Standard энд Purs) or the rating of similar level of one of other rating agencies;

the share of financing by agent bank constitutes at least 50 (fifty) percent from the financing amount on the agreement of syndicated loan;

under the agreement of syndicated loan the amount of financing is allocated for the investment purposes on construction of production facilities;

the financed project provides profitability of the project company and positive cash flows from operating and financial activities in the period after introduction of construction object in operation and before the termination of term of financing;

the financing amount under the agreement of syndicated loan is issued for the term of at least 7 (seven) years.";

state Item 54 in the following edition:

"54. It is necessary to understand each physical person or legal entity to which the bank has requirements as the term "one borrower" or there are requirements specified in Item 57 of Standard rates. The extent of risk for the group consisting of 2 (two) or more borrowers is calculated in total, as on 1 (one) borrower if the extent of risk of each of borrowers exceeds 0,1 (zero whole one tenth) percent of equity of bank, and also in the presence of one of the following circumstances:

1) one of borrowers is large participant (physical person or legal entity which owns directly or indirectly in ten or more percent of shares in the authorized capital or voting shares of joint-stock company, limited liability partnership or partnership with the accessorial liability; the complete companion in partnership in commendam; the participant in complete partnership), the affiliate, the close relative (the parent, the child, the adoptive father adopted the full and not full brother or the sister, the grandfather, the grandmother, the grandson), the spouse (spouse), the close relative of the spouse (spouse), the first head of other borrower, or person interested in transaction by other borrower;

2) the large member, the close relative, the spouse (spouse), the close relative of the spouse (spouse) or the first head of one borrower is large member, the close relative, the spouse (spouse), the close relative of the spouse (spouse) or the first head of other borrower;

3) the large member, the close relative, the spouse (spouse), the close relative of the spouse (spouse) or the first head of one borrower is large member, the close relative, the spouse (spouse), the close relative of the spouse (spouse) or the first head of the large participant, the close relative, the spouse (spouses), the close relative of the spouse (spouse) or the first head of other borrower;

4) there are good causes, confirmatory that one of borrowers transferred another in use the money received by it from bank in loan, in the amount of, exceeding equity of the transferring borrower;

5) there are good causes, confirmatory that borrowers jointly or separately gave the means received from bank in loan, in the amount of, exceeding cumulative equity of these borrowers, in use to the same third party who is not the borrower of bank;

6) borrowers are connected in such a way that one of borrowers (except for banks of the Republic of Kazakhstan) bears joint or subsidiary liability in the amount exceeding 10 (ten) percent of its assets according to obligations of other borrower;

7) the official of one borrower has financial interest in activities of other borrowers of bank;

8) borrowers are connected among themselves by cooperation agreement or other document which contains signs of cooperation agreement, except for the borrowers who are members of consortium;

9) borrowers are connected in such a way that their obligations are provided with common mortgage property and (or) guarantee and (or) the guarantee of the same third party which aggregate value covers more than 35 (thirty five) percent of book value of loan, except as specified availability of the general providing provided in the form of insurance policies, reserve letters of credit, guarantees, and also guarantees of joint-stock company "Fund of development of entrepreneurship "LADY", joint-stock company "National welfare fund "Samruk-Kazyna", joint-stock company "National managing holding "Bayterek" and their affiliated organizations, Fund of the Problem Credits joint-stock company, institutes of development and support of entrepreneurship of the Republic of Kazakhstan, Export credit agency of Kazakhstan having the state warranty on support of export, international financial institutions, financial organizations the nonresident banks of the Republic of Kazakhstan having rating "B" of the Standard & Poor agency "is not lower than s (Standard энд Purs) or the rating of similar level of one of other rating agencies;

10) borrowers are connected in such a way that one of borrowers provided mortgage property, guarantee, the guarantee in providing obligations of other borrower, except as specified availability of the providing provided in the form of insurance policies, reserve letters of credit, guarantees, and also guarantees of joint-stock company "Fund of development of entrepreneurship "LADY", joint-stock company "National welfare fund "Samruk-Kazyna", joint-stock company "National managing holding "Bayterek" and their affiliated organizations, Fund of the Problem Credits joint-stock company, institutes of development and support of entrepreneurship of the Republic of Kazakhstan, Export credit agency of Kazakhstan having the state warranty on support of export, international financial institutions, financial organizations, nonresident banks of the Republic of Kazakhstan having rating "B" of the Standard & Poor agency "is not lower than s (Standard энд Purs) or the rating of similar level of one of other rating agencies;

11) borrowers:

are the legal entities registered in the territory of the following states: Principality of Andorra, Principality of Liechtenstein, Republic of Liberia, Principality of Monaco, Marshall Islands (Republic of the Marshall Islands), or their citizens, or;

are the legal entities registered in the territory of the states carried by Organization for Economic Cooperation and Development to the list of the offshore territories which did not assume obligations on information exchange or their citizens or;

have the large participants, affiliates, close relatives, the first heads or persons interested in transactions with these borrowers registered or who are citizens of the states specified in paragraphs second and third this subitem;

12) borrowers are connected among themselves on other bases provided by the Law on banks;

13) borrowers are project participants on real estate construction, including the project orderer on construction of the real estate, equity participants on construction of object under construction and guarantors of equity participants. The extent of risk on one borrower formed by group of the borrowers listed in this subitem is not taken into cumulative consideration of the extent of risk as on one borrower according to subitems 1), 2), 3), 4), 5), 6), 7), 8), 9), 10), 11) and 12) this Item for the group formed with participation of physical persons - equity participants on construction of object under construction and (or) guarantors of equity participants.";

state Item 77 in the following edition:

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