of March 28, 2013 No. 10/8
About approval of the Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic"
According to articles 7 and 43 of the law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:
1. Approve the Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic" it (is applied).
2. Declare invalid the Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic" approved by the resolution of Board of National Bank of the Kyrgyz Republic of February 11, 2009 No. 7/11, registration number of the Ministry of Justice of the Kyrgyz Republic of February 24, 2009 No. 22-09 from the date of enforcement of regulations of the Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic" according to Item 6 of this resolution.
3. Publish this Resolution on the official site of National Bank of the Kyrgyz Republic.
4. After official publication to send to Legal management this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.
5. This resolution becomes effective after 15 days from the date of official publication.
6. Determine that regulations of the Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic", are applied from the moment of input of the Automated trade system in commercial operation.
7. To management of monetary transactions to bring this resolution to the attention of commercial banks.
8. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Abdybala тегин Page.
Chairman
Z.Asankozhoyeva
Appendix
to the Resolution of Board of National Bank of the Kyrgyz Republic of March 28, 2013 No. 10/8
1. This Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic" (further - the Provision) determines conditions and procedure for provision by National Bank of the Kyrgyz Republic (further - National Bank) intra overnight credit to the commercial banks of the Kyrgyz Republic (further - Banks/banks) licensed by National Bank through the automated trade system of National Bank (further - automatic telephone exchange).
2. The intra overnight credit is granted by National Bank to Bank according to articles 6 and 17 of the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", this Provision, Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic and the General agreement about intra overnight credit signed between National Bank and Bank (further - the General agreement). The standard form of the General agreement is given in Appendix 1 to this Provision.
3. The intra overnight credit is granted to Bank for the purpose of increase in overall performance of payment system of the Kyrgyz Republic.
4. Issue of intra overnight credit is performed in national currency, on interest-free basis, under mortgage providing in the form of pledge, in any working day.
5. The obligation of Bank on return of intra overnight credit is provided with pledge in the form of pledge. Pledge subject in the form of pledge are government securities of the Cabinet of Ministers of the Kyrgyz Republic and note of National Bank (further - securities). Requirements to sufficiency amount (in percentage expression), to type and other parameters of mortgage providing in the form of securities are established by Committee of monetary control of National Bank (further - KDKR). the securities pledged to National Bank cannot be pledged or repawned to the third party.
6. The outstanding intra overnight credit is automatically prolonged in automatic telephone exchange till next working day, with renewal on credit "overnight", with interest rate which is established for use of the credit "overnight" for date of renewal. Prolongation of the credit is performed only once.
7. Rules of work and time regulations of application for receipt of intra overnight credit and repayment of intra overnight credit in automatic telephone exchange it is regulated by Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic (further - Regulations on work of automatic telephone exchange).
8. The conditions and rules established by Regulations on work of automatic telephone exchange extend to this Provision.
For the purposes of this provision, except provided below, the determinations and terms established in Regulations on work of automatic telephone exchange are applied.
9. Intra overnight credit - the loan in som granted by National Bank to Bank for the purpose of ensuring timely and uninterrupted carrying out payments in payment system of the Kyrgyz Republic with repayment in day of issue of intra overnight credit under mortgage providing in the form of pledge.
10. The credit "overnight" - the loan in som granted by National Bank to Bank during the operational day with repayment no later than the next working day on fixed interest rate, under mortgage providing in the form of pledge.
11. Authorization of intra overnight credit - the procedure performed by the authorized person of National Bank for confirmation and further execution of the Request for receipt of intra overnight credit.
12. Depositary - the legal entity of the Kyrgyz Republic performing accounting and storage of securities, registration of transition and confirmation of the property right to securities.
13. Investment sub-account of the account of "depot" - the sub-account of Bank opened in Depositary for the purposes of accounting and storage of the securities belonging to Bank on the property right.
14. Reserve sub-account balance of "depot" - the sub-balance of Bank opened in Depositary, intended for reservation of securities in the course of attraction of the credits "overnight" and intra day.
15. The authorized person - the employee of structural division of National Bank who is authorized to authorize requests for attraction of intra overnight credit.
16. The intra overnight credit is granted with respect for the general principles of crediting: urgency, recoverability and security.
17. For receipt of intra overnight credit the Bank shall conform to the following requirements:
- have the license of National Bank for carrying out banking activities;
- is not in the mode of Temporary administration. The intra overnight credit in the presence of the relevant decision of Board of National Bank can be granted to the bank which is in the mode of Temporary administration;
- have correspondent account in national currency in National Bank;
- have available the General agreement signed with National Bank about intra overnight credit;
- have available the General agreement signed with National Bank about the credit "overnight";
- not have overdue monetary commitments before National Bank on earlier obtained credits "overnight" and to percent on them;
- not have overdue monetary commitments before National Bank on other credits and percent on them;
- have available the sufficient mortgage providing meeting the requirements established by National Bank;
- be connected to interbank communication network;
- be connected to automatic telephone exchange.
18. Issue of intra overnight credit is performed by National Bank through automatic telephone exchange.
19. For receipt of intra overnight credit through automatic telephone exchange, Bank shall submit the Application for receipt of intra overnight credit completed in the established form in automatic telephone exchange.
20. The request of Bank for receipt of intra overnight credit in automatic telephone exchange is subject to authorization from the authorized person of National Bank.
21. The bank recognizes the obligations to National Bank on intra overnight credit based on the Request for receipt of intra overnight credit in automatic telephone exchange.
22. Discrepancy of Bank to requirements of the item 17 of this provision is the basis for refusal in provision to Bank of the required amount of intra overnight credit. In case of refusal in provision of intra overnight credit, the authorized person of National Bank does not authorize the request of Bank in automatic telephone exchange on receipt of intra overnight credit with indication of the reason.
23. Issue of intra overnight credit is performed by transfer of the amount of the intra overnight credit granted by National Bank on correspondent account of Bank in National Bank.
24. The time regulations of application for receipt of intra overnight credit are regulated by Regulations on work of automatic telephone exchange.
25. In addition to the requirements by the form providing established by KDKR according to the item 5 of this provision, the securities provided in providing intra overnight credit shall meet the following requirements:
- belong to Bank on the property right;
- be stored and be considered on sub-balance "Investment" or "Reserve" accounts of "depot" of Bank in Securities depository;
- not be the encumbered other obligations.
26. Discrepancy of mortgage providing to requirements imposed by National Bank to providing is the basis for refusal in provision to Bank of the required amount of intra overnight credit.
27. The pledge subject in the form of pledge is considered the transferred Bank in ownership of National Bank from the moment of provision by National Bank to Bank of intra overnight credit.
28. Repayment of the amount of intra overnight credit is made in day of issue of intra overnight credit by Bank through automatic telephone exchange according to Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic.
29. The intra overnight credit shall be repaid in full, partial repayment of intra overnight credit is not allowed.
30. In case of timely and complete execution of the obligations by Bank on intra overnight credit, automatic telephone exchange makes release and transfer of the securities provided as a deposit on investment or on reserve sub-account balance of "depot" of Bank in Depositary.
31. The intra overnight credit is considered outstanding in case of non-execution of the obligations by Bank on return of intra overnight credit to automatic telephone exchange in time, specified in Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic. The outstanding intra overnight credit according to the item 6 of this provision is automatically prolonged in automatic telephone exchange. At the same time obligations of Bank on repayment of intra overnight credit stop, mortgage loan security becomes providing the prolonged credit renewed on credit "overnight".
32. The arising legal relationship between National Bank and Bank after renewal of outstanding intra overnight credit on credit "overnight" are regulated further based on Regulations on the credit "overnight".
33. By National Bank changes and additions directed to enhancement of carrying out transactions on provision of intra overnight credit can be made to this Provision.
to the Provision "About Intra Overnight Credit of National Bank of the Kyrgyz Republic"
The general agreement about intra overnight credit
No. ____________ "____" ___________ 20 ___.
Bishkek
National Bank of the Kyrgyz Republic, hereinafter referred to as "National Bank" or "Pawnbroker", on behalf of ___________________________________, the acting on the basis of the order of National Bank of the Kyrgyz Republic "_____________________________" from __________ No. ___, on the one hand, and ____________________, hereinafter referred to as "Bank" or "Pledger", on behalf of ____________________________, acting on the basis of the Charter, on the other hand, in case of joint mentioning further "Parties", being guided by Regulations on intra overnight credit of National Bank of the Kyrgyz Republic (further in the text "Provision"), signed this General agreement (further in the text "General agreement") as follows:
1. Subject of the agreement
1.1. Subject of this General agreement is determination of conditions of provision by National Bank of intra overnight credit to Bank through automatic telephone exchange and regulation of the legal relationship arising at the same time.
2. Conditions of provision, repayment and prolongation of intra overnight credit
2.1. The bank has the right to obtain intra overnight credit according to the Provision and this General agreement.
2.2. The procedure for obtaining, repayment and prolongation of intra overnight credit is regulated by the Provision, Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic and this General agreement.
2.3. For receipt of intra overnight credit in ATS Bank shall conform to requirements of the Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic and the Provision.
2.4. Issue of intra overnight credit is performed in national currency, on interest-free basis, under mortgage providing in the form of pledge, for the purpose of increase in overall performance of payment system of the Kyrgyz Republic, in any working day.
2.5. The National Bank shall perform timely and in full transfer of money on correspondent account of Bank in National Bank after authorization of the request of Bank in automatic telephone exchange on receipt of intra overnight credit.
2.6. Repayment of intra overnight credit is performed by Bank in automatic telephone exchange in the day of its issue in time determined in Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic.
2.7. In case of timely and complete execution of the obligations by Bank on intra overnight credit, automatic telephone exchange makes release and transfer of the securities provided as a deposit on investment or reserve sub-account balance of "depot" of Bank in Depositary
2.8. In case of non-execution of the obligations by Bank on return of intra overnight credit to automatic telephone exchange in time, determined in Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic, the Bank grants the right of automatic telephone exchange to automatically prolong outstanding intra overnight credit till next working day, with renewal of outstanding intra overnight credit on credit "overnight", with interest rate which is established for use of the credit "overnight" for date of renewal.
2.9. The arising legal relationship between National Bank and Bank after renewal of outstanding intra overnight credit on credit "overnight" are regulated further based on Regulations on the credit "overnight" and the General agreement about the credit "overnight".
3. Mortgage providing
3.1. The obligation of Bank on return of intra overnight credit is provided with pledge in the form of pledge. Pledge in the form of pledge shall conform to the requirements determined in the Provision.
3.2. The pledge subject in the form of pledge is considered the transferred Bank in ownership to National Bank from the moment of provision by National Bank to Bank of intra overnight credit, according to its Request for receipt of intra overnight credit.
3.3. The pawnbroker does not insure pledge subject. Insurance of subject of pledge in volume of its cost can be performed by the Pledger at own expense.
3.4. The pledge subject in the form of pledge which is providing outstanding intra overnight credit in case of its prolongation and renewal on credit "overnight", becomes providing the drawn-up credit "overnight".
4. Responsibility of the parties
4.1. The bank bears complete responsibility for the obligations on intra overnight credit according to the Request for receipt of intra overnight credit, the Provision and this General agreement.
4.2. The National Bank does not bear damage liability, caused to Bank owing to violation by it of the Provision and this General agreement.
4.3. The parties bear complete responsibility for correctness, timeliness and confidentiality of the actions made by their employees connected with carrying out transactions on receipt, repayment and prolongation of intra overnight credit according to the Provision and this General Agreement.
4.4. The bank bears complete responsibility for observance of safety conditions and confidentiality during the work with the closed keys and signature key certificates issued to responsible persons of Bank, certification center which functions are performed by National Bank, and also for observance of rules of their storage and use.
5. Technical failures
5.1. Technical failures in automatic telephone exchange are regulated according to Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic. In case of technical failure in automatic telephone exchange as a result of which there is impossible automatic carrying out issue of intra overnight credit the National Bank the order of the Vice-chairman of National Bank can suspend issue of intra overnight credit for the period before maintenance of automatic telephone exchange, or perform issue of intra overnight credit based on the Request for receipt of intra overnight credit provided by Bank on paper according to appendix 1 to this General agreement.
6. Dispute resolution
6.1. The disputes and disagreements arising in the course of execution of this General agreement are subject to negotiated settlement of the Parties, for the purpose of development of the mutually acceptable decision.
6.2. Not settled disputes are resolved according to the procedure, established by regulatory legal acts of the Kyrgyz Republic.
7. Other conditions
7.1. Additions and changes by agreement of the Parties can be made to this General agreement.
7.2. All amendments and changes to this General agreement are valid if they are made in writing and signed both Parties.
7.3. In case of reorganization or liquidation of the Parties, all rights and obligations of the Parties according to this General agreement pass to legal successors of the Parties.
7.4. This agreement is constituted in 2 (two) authentic copies in Russian and in 2 (two) copies in the Kyrgyz language, on two copies for each of the Parties having identical legal force. Two copies of this agreement are stored in National Bank, two others - are told to Bank.
8. Effective period and procedure for agreement cancelation
8.1. This General agreement becomes effective from the moment of its signing by both Parties and is effective within one calendar year.
8.2. This General agreement is considered prolonged for each next calendar year if any of the Parties for one calendar month before expiration of this General agreement did not declare in writing intention of its termination. Termination of the General agreement does not stop the obligation of Bank on already obtained intra overnight credits and the related mortgage providing.
8.3. The parties have the right to terminate unilaterally this General agreement with the prior notice of other Party for one calendar month.
8.4. The National Bank has the right unilaterally without prior notice of Bank to terminate this General agreement in cases:
- violations by Bank of the Provision and conditions of this General agreement;
- non-compliance with Item 2.3 conditions by Bank. this General agreement;
- response at Bank of the license for carrying out banking activities granted by National Bank;
- recognitions of Bank by court by the bankrupt;
- the terminations of activities of Bank as legal entity, according to the current legislation of the Kyrgyz Republic.
9. Legal addresses and details of the parties
|
"National Bank" _______________________ (postal index, address) ________________________ (position) ________________________ (Full name, signature) MEGAPIXEL |
"Bank" ______________________ (postal index, address) ______________________ (position) ______________________ (Full name, signature) MEGAPIXEL |
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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