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

of May 16, 2025 No. 14

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market

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 regulation of the financial market to which changes and amendment are made (further – the List), according to appendix to this resolution.

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.

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of May 16, 2025 No. 14

The list of regulatory legal acts of the Republic of Kazakhstan concerning regulation of the financial market to which changes and amendment are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of December 26, 2016 No. 304 "About establishment of normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, requirements, obligatory to observance, to the shares acquired by the insurance (reinsurance) organizations, the affiliated organizations of the insurance (reinsurance) organizations or insurance holdings (to shares in the authorized capital) legal entities, the list of bonds of the international financial institutions acquired by insurance holdings, the minimum required rating for the bonds acquired by insurance holdings and the list of rating agencies, and also the list of financial instruments (except for shares and shares in the authorized capital), acquired by the insurance (reinsurance) organizations" (the following change is registered in the Register of state registration of regulatory legal acts at No. 14794):

in the Normative values and techniques of calculations of prudential standard rates of the insurance (reinsurance) organization and insurance group and other regulations and limits, obligatory to observance, approved by the specified resolution:

state Item 45 in the following edition:

"45. The insurance (reinsurance) organizations observe the regulations, following other obligatory to observance:

1) the insurance (reinsurance) organizations transfer insurance risks to reinsurance to the insurance (reinsurance) resident organizations of the Republic of Kazakhstan only in case of observance of the standard rate of sufficiency of solvency margin by the last;

2) repo transactions are made by automatic method and consist for the term of no more than 30 (thirty) calendar days (in trade system of stock exchange).

3) since total April 1, 2025 book value of transactions of "repo" does not exceed 50 (fifty) percent from the amount of general insurance reserves, since July 1, 2025 does not exceed 35 (thirty five) percent from the amount of general insurance reserves.".

2. 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 and amendment:

state preamble in the following edition:

"According to Item 3 of article 42 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" and the Law of the Republic of Kazakhstan "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES:";

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 1 in the following edition:

"1. 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 (further – Standard rates) are developed according to Item 3 of article 42 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further – the Law on banks) and establish 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.

Normative values for banks and their affiliated organizations calculated on the basis of consolidated financial statements are established according to article 42 of the Law on banks.

Normative values are expressed by number with three signs after comma.

And limits of the size of the capital of bank for obligatory observance by banks enter into structure of prudential standard rates and other regulations, obligatory to observance:

minimum size of authorized and own capitals of bank;

coefficient of sufficiency of equity;

the maximum extent of risk on one borrower;

liquidity rates;

coverage ratios of liquidity and net stable funding;

capitalization of banks to obligations to nonresidents of the Republic of Kazakhstan;

coefficient on placement of part of means of bank in internal assets;

coefficient of debt load of the borrower of bank;

debt coefficient to the income of the borrower of bank.";

state Item 19 in the following edition:

"19. Calculation of assets, the contingent and possible obligations weighed on degree of credit risk is carried out according to the Table of the assets of bank weighed on degree of credit risk of investments according to appendix 5 to Standard rates, Values of coefficients of weighing on degree of credit risk of investments on unsecured consumer loans when calculating coefficient of debt load, according to appendix 5-1 to Standard rates and the Table of the contingent and possible obligations of bank weighed on degree of credit risk according to appendix 6 to Standard rates. Calculation of values of coefficients of weighing for degree of credit risk of investments for unsecured consumer loans when calculating coefficient of debt load is perfromed on the unsecured consumer loans issued after January 1, 2020.

For the purposes of weighing of assets, contingent and possible obligations on risk degree assets, contingent and possible obligations decrease by the amount of the created reserves, according to IFRS.

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