RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of May 28, 2025 No. 137

About approval of the Instruction about procedure for issue, the address and bond redemption of National Bank

Based on the paragraph of third of article 7 of the Law of the Republic of Belarus of January 5, 2015 "About the security market" and parts one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES: No. 231-Z

1. Approve the Instruction about procedure for issue, addresses and bond redemptions of National Bank (are attached).

2. This resolution becomes effective since July 28, 2025.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of May 28, 2025 No. 137

The instruction about procedure for issue, the address and bond redemption of National Bank

Chapter 1. General provisions

1. This Instruction determines procedure for issue, the address and bond redemption of National Bank (further, unless otherwise specified, – bonds).

2. Bonds are emitted by National Bank when implementing monetary control, including for the purpose of forming of gold and foreign exchange reserves of the Republic of Belarus.

Bonds are personalized issued securities and are emitted in paperless form.

3. For the purposes of this Instruction the terms below are used in the following values:

auction – the auction held by National Bank on placement of bonds;

discount – difference between nominal value of the bond and bond value in case of placement (without the interest income paid by National Bank);

discount bonds – bonds which owner gains income due to bonds acquisition at the price below nominal value and repayment by their National Bank at par value;

additional placement – additional placement of the bond issue realized at auction not in full;

the investor – legal entity or physical person which investment object are bonds. The resident or the nonresident can be the investor;

the client – the investor participating in placement of bonds with mediation of professional participants of the security market, legal entities – the nonresidents having the right to perform professional activity on securities according to foreign law (according to the agreement of the order, the commission or trust management);

converting of bonds – placement of bonds by exchange of bonds of one release for bonds of other release;

open amount of release – the bond issue amount established by National Bank after holding the auction;

variable interest income – the interest income paid by National Bank depending on change of the indicators used for determination of the income;

permanent interest income – the interest income paid one-timely in case of bond redemption or periodically during circulation period of bonds at the rate established by National Bank in the form of the fixed percent to nominal value of bonds;

interest income – the income in percent type from nominal value of bonds paid (which is subject to payment) National Bank to the bondholder in case of their repayment or periodically during circulation period of bonds over nominal value of bonds in accordance with the terms of issue;

interest bearing bonds – bonds which owner gains interest income;

weighted average yield of bonds – the profitability determined as average arithmetic weighed on amounts of the satisfied competitive offers;

circulation period of bonds – the period from start date of placement on repayment date of bonds established by conditions of their issue. For calculation of circulation period of bonds day of the beginning of placement and repayment day of bonds are considered in one afternoon;

current value of bonds – bond value for certain date in the period of their address;

the established release amount – the bond issue amount established by National Bank in case of determination of key parameters of holding the auction;

bond emission conditions – the bond issue parameters set in the decision on release.

The terms "digital signature" and "electronic document" are used in the values determined respectively by paragraphs the fifteenth and sixteenth article 1 of the Law of the Republic of Belarus of December 28, 2009 No. 113-Z "About the electronic document and the digital signature".

The terms "nonresidents" and "residents" are used in the values determined respectively by subitems 1.10 and 1.11 of Item 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control".

The terms "unorganized market", "organized market", "professional participant of the security market", "the account of "depot" are used in the values determined respectively by paragraphs to the twenty eighth, thirty second, thirty ninth, fiftieth part one of article 1 of the Law of the Republic of Belarus "About the security market".

4. Rate of the income and other parameters are set in case of bond emission.

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