The agreement between the Central Bank of Russia and the National Bank of the Kyrgyz Republic (NBKR) on cooperation in the field of banking supervision behind activities of credit institutions

of July 9, 2004

The National Bank of the Kyrgyz Republic and the Central bank of the Russian Federation (Bank of Russia) which are hereinafter referred to as with "banking supervisor authorities", expressing mutual interest in establishment and development of bilateral ties in the field of banking supervision, for the purpose of achievement of mutual understanding concerning banking regulation and interaction in the field of banking supervision behind activities of credit institutions, agreed as follows:

1. For the purposes of this agreement:

1.1. Credit institution:

1.1.1. In the territory of the Russian Federation - the legal entity who for generation of profit as main objective of the activities based on special permission (license) of the Central bank of the Russian Federation (Bank of Russia) has the right to perform the banking activities provided by the Federal Law "About Banks and Banking Activity". The credit institution is formed on the basis of any pattern of ownership as economic society.

- Bank - credit institution which has exclusive right to perform in total the following banking activities: attraction in deposits of money of physical persons and legal entities, placement of the specified means on its own behalf and at own expense on the terms of recoverability, the paid nature, urgency, opening and maintaining bank accounts of physical persons and legal entities.

- Non-bank credit institution - the credit institution having the right to perform the separate banking activities provided by the Federal Law "About Banks and Banking Activity". Admissible combinations of banking activities for non-bank credit institutions are established by the Bank of Russia.

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