RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of March 25, 2009 No. 34

About reserve fund of bank and non-bank credit and financial organization

Based on article 109 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. The bank, the non-bank credit and financial organization on approval date of the annual statement shall create reserve fund in the amount of at least 5 percent from the registered authorized fund.

2. The reserve fund of bank, non-bank credit and financial organization is used for covering of losses of last years and accounting year, and also on increase in the size of its authorized fund.

3. Recognize invalid:

the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 124 "About approval of the Instruction about procedure for forming and use of reserve fund of bank and non-bank credit and financial organization" (The national register of legal acts of the Republic of Belarus, 2001, No. 61, 8/6226);

the resolution of Board of National Bank of the Republic of Belarus of October 31, 2006 No. 170 "About introduction of amendments to the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 124" (The national register of legal acts of the Republic of Belarus, 2006, No. 199, 8/15335).

4. This resolution becomes effective after its official publication.

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