RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 26, 2001 No. 48/3

About the minimum size of the capital (own means) of commercial banks

According to the Resolution of Board of NBKR No. 44/1 of November 21, 2001 "About new edition of Regulations of activities of the commercial banks and other financial credit institutes licensed by NBKR in the territory of the Kyrgyz Republic", based on articles 31 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" and in pursuance of the joint Order of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic of October 31, 2001 No. 673/40/11 "About approval of the Policy of Regulating Reaction (PRR)", and also considering that the capital of commercial bank is basic component for ensuring sustainable and effective development of bank, covering of potential losses and strengthening of reliability and safety of bank system, improvement of quality and expansion of range of the rendered services by bank that is guarantor of customer confidence to bank and ensuring protection against possible risks, enhancement of quality characteristics of methods of regulation of activities of the banks and other financial credit institutes licensed by NBKR, the Board of National Bank of the Kyrgyz Republic decides:

1. Establish since April 1, 2002 the minimum size of the capital (own means) for commercial banks of the Kyrgyz Republic (including RSK and branches of foreign banks) in the amount of at least 25 million som.

2. Determine that the commercial banks which did not execute indicator by the minimum size of the capital (own means) of bank to fixed term will be transferred to the mode of restriction of transactions of bank and from NBKR the measures and sanctions established by the legislation of the Kyrgyz Republic will be applied to them.

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