LAW OF THE REPUBLIC OF BELARUS

of July 13, 2012 No. 416-Z

About entering of amendments and changes into the Bank code of the Republic of Belarus

Accepted by the House of Representatives on June 27, 2012

Approved by Council of the Republic on June 29, 2012

Article 1. Bring in the Bank code of the Republic of Belarus of October 25, 2000 in edition of the Law of the Republic of Belarus of July 17, 2006 (The national register of legal acts of the Republic of Belarus, 2000, No. 106, 2/219; 2006, No. 113, 2/1243; 2007, No. 305, 2/1398; 2008, No. 172, 2/1466, 2/1469; No. 175, 2/1494; 2009, No. 145, 2/1574; 2010, No. 15, 2/1666; No. 147, 2/1684) following amendments and changes:

1. In Article 8 part one:

to add paragraph two after words of "legal entities" with the words "into accounts and (or)";

third after the word "placement" to add the paragraph with the words "specified in the paragraph the second to this part".

2. In Article 9 part one:

to add paragraph two after words of "legal entities" with the words "into accounts and (or)";

third after the word "placements" to add the paragraph with the words "specified in the paragraph the second to this part".

3. In Article 14:

in part one:

to add paragraph two after words of "legal entities" with the words "into accounts and (or)";

third after the word "placement" to add the paragraph with the words "specified in the paragraph the second to this part";

word in paragraph eight "the legislation of the Republic of Belarus" shall be replaced with words "National Bank";

the ninth to add the paragraph with words "physical and (or) legal

persons";

after the paragraph of the tenth to add part with the paragraph of the following content:

"trust management of bank management of fund based on the trust management agreement of fund of bank management;";

paragraphs from eleven to seventeen shall be considered as paragraphs from twelve to eighteen respectively;

the fourteenth to state the paragraph in the following edition:

"release into the stream of commerce (issue) of bank payment cards;";

after the paragraph of the fourteenth to add part with the paragraph of the following content:

"release into the stream of commerce (issue) of electronic money;"; the fifteenth - the eighteenth to consider paragraphs respectively paragraphs the sixteenth - the nineteenth; in part four:

after the paragraph of the seventh to add part with paragraphs of the following content:

"offsetting of mutual monetary and other financial claims and obligations and determination of net line items (clearing activities);

transactions in the Republic of Belarus and beyond its limits with the commemorative banknotes, commemorative and ingot (investment) coins which are legal means of payment of the Republic of Belarus at the price not below nominal;";

to consider the paragraph of the eighth the paragraph the tenth;

the tenth to state the paragraph in the following edition:

"other the stipulated by the legislation activities of the Republic of Belarus performed for own needs and (or) necessary for ensuring banking operations, except for implementation of insurance activity as insurers.";

the fifth - the seventh to exclude parts.

4. The second articles 15 after words of "money" to add part with words ", precious metals and (or) gemstones".

5. State Article 18 in the following edition:

"Article 18. State regulation of banking activity

State regulation of banking activity is performed by National Bank by means of:

state registration of banks and non-bank credit and financial organizations;

licensing of banking activity;

establishments of prohibitions and restrictions for banks and the non-bank credit and financial organizations;

control of observance by banks and non-bank credit and financial organizations of the bank law;

banking supervision;

applications of the measures of supervising reaction established by this Code;

acceptances (edition) of regulatory legal acts;

accomplishment of other functions according to legal acts of the Republic of Belarus.".

6. In Article 19:

to exclude parts four of the word "target budget and" from the paragraph of third;

from part six of the word "carry out orders of the Government of the Republic of Belarus, republican state bodies, local executive and administrative organs" to exclude.

7. To exclude parts four of Article 24 of the word "taking into account audit opinion and profit distribution of National Bank" from the paragraph of the fifth.

8. In paragraph three of part one of Article 25 of the word "development and strengthening" shall be replaced with words "ensuring stability".

9. State Article 26 in the following edition:

"Article 26. Functions of National Bank

The National Bank performs the following functions:

develops the Main directions of monetary policy of the Republic of Belarus and together with the Government of the Republic of Belarus provides carrying out single monetary policy of the Republic of Belarus according to the procedure, established by this Code and other legal acts of the Republic of Belarus;

performs the transactions necessary for accomplishment of main objectives of activities of National Bank;

is last resort lender for banks, performing their refinancing;

performs currency issue;

performs release (issue) of securities of National Bank;

creates gold stock of the State fund of precious metals and gemstones of the Republic of Belarus and exercises operational management of it within the competence;

creates gold and foreign exchange reserves in coordination with the President of the Republic of Belarus and manages them within the competence;

performs currency control and currency exchange control according to the legislation of the Republic of Belarus;

governs credit relations;

regulates and will organize currency circulation;

performs functions of the financial agent of the Government of the Republic of Belarus and local executive and administrative organs concerning execution republican and local budgets;

establishes rules and procedure of banking activities;

agrees to implementation by banks and non-bank credit and financial organizations of transactions with securities in cases, stipulated by the legislation the Republic of Belarus;

approves issues of securities of banks and non-bank credit and financial organizations in cases, stipulated by the legislation the Republic of Belarus;

will organize activities of banks and non-bank credit and financial organizations for issue and circulation of bills of exchange if other is not determined by the President of the Republic of Belarus;

performs depository activity according to the procedure, determined by the legislation of the Republic of Belarus;

establishes for banks and the non-bank credit and financial organizations of the requirement for implementation of transactions by them with forward and futures contracts, options and other financial instruments;

governs the relations arising in case of consolidation of money and (or) securities in fund of bank management based on trust management agreements of fund of bank management if other is not provided by legal acts of the Republic of Belarus;

determines procedure for carrying out in the Republic of Belarus for calculations in non-cash and cash forms, including the size, payments with cash in Belarusian rubles between legal entities, their separate divisions, individual entrepreneurs;

will organize collection and transportation of cash, payment instructions, precious metals and gemstones and other values;

performs settlement and (or) cash servicing of the Government of the Republic of Belarus, the organizations which list is determined in the Charter of National Bank, and other organizations in the cases provided by legal acts of the Republic of Belarus;

establishes procedure for opening of accounts in precious metals and conditions of their maintaining in banks and the non-bank credit and financial organizations in the territory of the Republic of Belarus, and also condition of opening by residents of such accounts in banks and other credit institutions beyond its limits. For the purposes of of this Code the term "resident" matters, determined by Item 7 of article 1 of the Law of the Republic of Belarus of July 22, 2003 "About currency control and currency exchange control" (The national register of legal acts of the Republic of Belarus, 2003, No. 85, 2/978);

establishes together with authorized state bodies procedure for import to the Republic of Belarus and export out of its limits of precious metals and gemstones in case of banking operations;

establishes the prices of purchase and sale of precious metals and gemstones in case of banking operations;

regulates activities of banks and non-bank credit and financial organizations;

exercises banking supervision;

establishes procedure for state registration of banks and non-bank credit and financial organizations according to this Code and other legal acts of the Republic of Belarus and performs their state registration;

performs licensing of banking activity;

performs monitoring of financial stability;

will organize functioning of payment system of the Republic of Belarus and exercises supervision of it;

performs forming and development of single settlement and information space, provides functioning of the automated information system of single settlement and information space;

provides carrying out single state policy in the field of financial accounting and the reporting for National Bank, banks and the non-bank credit and financial organizations;

performs methodological management of financial accounting and the reporting of National Bank, banks and non-bank credit and financial organizations, other powers in the field of financial accounting and the reporting according to legal acts of the Republic of Belarus;

develops and approves national accounting standards and the reporting and other regulatory legal acts on financial accounting and the reporting, obligatory for execution by National Bank, banks and non-bank credit and financial organizations;

establishes for banks and the non-bank credit and financial organizations procedure for creation of the statistical reporting under forms and in the terms determined by the legislation of the Republic of Belarus;

creates statistics of paying balance, international investment line item and external debt of bank system, bank statistics, statistics of the financial market, including domestic foreign exchange market and cash circulation, and also statistics of financial stability and posts statistical data on the official site of National Bank on the global computer Internet;

carries out the analysis of paying balance, takes part in development of the forecast of paying balance by state bodies;

carries out the analysis and forecasting of tendencies in the monetary sphere and posts the corresponding analytical materials on the official site of National Bank on the global computer Internet;

performs the monitoring of the organizations based on holding regular polls for identification of tendencies of economic processes, their analysis and the forecast in interaction with instruments of monetary policy;

realizes state policy in the field of security activities of banks and non-bank credit and financial organizations;

establishes for banks and the non-bank credit and financial organizations mandatory requirements to safe functioning of objects and safety of rendering banking services, protection of information resources and information, distribution and (or) provision of which is limited if other is not provided by legal acts of the Republic of Belarus;

establishes requirements to technical capabilities of banks, non-bank credit and financial organizations, their branches, structural divisions and remote workplaces for carrying out banking activities, performs technical regulation and standardization in the field of banking activity;

exercises control of safety and protection of information resources in banks and the non-bank credit and financial organizations;

establishes requirements to reproduction of images of banknotes and coins;

creates credit stories based on the credit stories of data on credit deals provided by sources of forming and provides credit reports to users of credit stories and subjects of credit stories;

signs agreements with the Central (national) Banks and credit institutions of foreign states;

performs other functions provided by this Code and other legal acts of the Republic of Belarus.".

10. In Article 30:

from word paragraph two", and also" to exclude measures of responsibility for their violation;

after paragraph two to add Article with the paragraph of the following content:

"procedure, including the size, payments with cash in Belarusian rubles between legal entities, their separate divisions, individual entrepreneurs;";

third - the fifth to consider paragraphs respectively paragraphs the fourth - the sixth.

11. State Article 31 in the following edition:

"Article 31. The rights of National Bank in the field of credit relations

The National Bank in the field of credit relations establishes: system of refinancing of banks;

refunding rate and other interest rates for transactions of National Bank;

amount of refinancing of banks;

standard rates of the required reserves deposited in National Bank (reserve requirements).

The National Bank regulates the total amount of the credits issued to them according to the Main directions of monetary policy of the Republic of Belarus.

Refinancing of banks is understood as provision by it by National Bank of money in Belarusian rubles on the terms of recoverability and the paid nature.

Refunding rate - the rate of National Bank which is the basic instrument of regulation of level of interest rates in the money market and forming basis for establishment of interest rates for liquidity provision transactions to banks.

Forms, procedure and conditions of refinancing are determined by National Bank.

The National Bank for regulation of the money market and the market of credit resources establishes the sizes of interest rates for the transactions and in exceptional cases - limiting (maximum and (or) minimum) the sizes of interest rates for transactions of banks with money of physical and (or) legal entities.".

12. Third of Article 32 to state part in the following edition: "The National Bank conducts the central archive of interbank

calculations of National Bank also carries out documentary synchronization of archives of banks by interbank calculations according to the procedure, it established. The National Bank has the right to use such archive for statistical processing, confirmation of transactions, interbank calculations perfromed when carrying out, storage of electronic documents by interbank calculations of banks.".

13. In Article 33:

the name of Article and paragraph one to add with the words "and currency exchange control";

the tenth to exclude the paragraph;

the eleventh - the fifteenth to consider paragraphs respectively

paragraphs the tenth - the fourteenth;

the thirteenth to state the paragraph in the following edition:

"issues permissions to implementation of currency transactions

in the cases established by the legislation of the Republic of Belarus;".

14. State Articles 34 and 35 in the following edition:

"Article 34. The rights of National Bank in the field of banking supervision

Main goals of National Bank in the field of banking supervision are maintenance of banking system stability of the Republic of Belarus and depositor protection and other creditors.

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