DECISION OF CENTRAL BANK OF THE AZERBAIJAN REPUBLIC

of November 14, 2013 No. 22

About modification of "Rules of calculation of banking capital and its adequacy"

Central Bank achieved the strategic objective connected with capitalization of banks, quality and amount of the capitals of bank considerably increased, the economy of banks, including opportunities for crediting and providing with financial services the real sector and the population extended. For the last 15 months the aggregate capital of banks increased by 48% or 1 billion manats, having reached 3, 2 billion manats. As a result of it financial stability and stability of the sector are considerably increased.

Along with it, despite capitalization potential availability for execution of the requirement of headband from the banks owning only 5% in assets of banking sector extra time is required.

Considering the above, and also provision of extra time for bringing cumulative headband of the operating banks to 50 million manat for the purpose of safety of bank creditors and investors, protection of financial stability of bank system in general and successful completion of process of consolidation without intensity creation, Board of the Central bank of the Azerbaijan Republic according to article 22.0.17 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic", and also articles 21 and 34 of the Law of the Azerbaijan Republic "About banks" decides:

1. Approve change in "Rules of calculation of banking capital and its adequacy" it (is applied);

2. Charge to Legal department (R. Melikova) to provide within 3 days submission of this decision to the Ministry of Justice for inclusion in the State register of legal acts of the Azerbaijan Republic.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info