RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 23, 2015 No. 78/23

About entering of amendments and changes into some resolutions of Board of National Bank of the Kyrgyz Republic

According to articles 7 and 43 of the Law "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Make additions and changes to the following resolutions of Board of National Bank of the Kyrgyz Republic (are applied):

- "About approval of the Regulations on the economic standard rates and requirements obligatory for accomplishment by the commercial banks and financial credit institutes licensed by National Bank of the Kyrgyz Republic" of July 21, 2004 No. 18/1;

- "About approval of new edition of the Instruction for determination of standards of adequacy of the capital of commercial banks of the Kyrgyz Republic" of July 21, 2004 No. 18/2;

- "About approval of the Instruction for determination of standards of adequacy of the capital of the banks performing transactions according to the Islamic principles of banking and financing" of December 28, 2009 No. 51/4;

- "About approval of new edition of the Provision "About Classification of Assets and the Corresponding Allocations to Reserve on Covering of Potential Losses and Losses" of July 21, 2004 No. 18/3;

- "About some regulatory legal acts of National Bank of the Kyrgyz Republic" of December 28, 2009 No. 51/6;

- "About some regulatory legal acts of National Bank of the Kyrgyz Republic" of August 25, 2005 No. 26/5;

- "About approval of the Provision "About the Periodic Regulating Report of the Banks Performing Transactions according to the Islamic Principles of Banking and Financing" of March 30, 2011 No. 20/4.

2. This resolution becomes effective after fifteen days from the date of official publication, except for changes and amendments in resolutions of Board of National Bank of the Kyrgyz Republic "About some regulatory legal acts of National Bank of the Kyrgyz Republic" of August 25, 2005 No. 26/5 and "About approval of the Provision "About the Periodic Regulating Report of the Banks Performing Transactions according to the Islamic Principles of Banking and Financing" of March 30, 2011 No. 20/4, which become effective since May 1, 2016.

Paragraph two of Item 2 ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.04.2016 No. 19/6

3. To legal management:

- publish this resolution on the official site of National Bank of the Kyrgyz Republic;

- after official publication to send 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.

4. To management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks, OYuL "Union of Banks of Kyrgyzstan", regional managements and representative office of National Bank of the Kyrgyz Republic in Batken Province.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic L. Orozbayeva.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of December 23, 2015 No. 78/23

Changes and amendments in some resolutions of Board of National Bank of the Kyrgyz Republic

1. Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Regulations on the economic standard rates and requirements obligatory for accomplishment by the commercial banks and financial credit institutes licensed by National Bank of the Kyrgyz Republic" of July 21, 2004 No. 18/1 the following amendments and changes:

in the Regulations on the economic standard rates and requirements obligatory for accomplishment of the Kyrgyz Republic by commercial banks approved by the above-stated resolution:

1) in Item 1.1. after the words "on all commercial banks" to add with words ", including the commercial banks performing transactions according to the Islamic principles of banking and financing taking into account the special terminology applied by them in case of banking operations";

2) Item 4.1. state in the following edition:

"4.1. The standard rate of liquidity (K3.1) needs to be supported at the level of not lower than 45%.";

3) Item 4.2. state in the following edition:

"4.2. The norm of liquidity is determined on formula:

                                                                                                                                              K3.1 = (% LA / OB)*100, where:

1) LA - quick assets which treat:

- cash in cash desk of bank in national and foreign currency;

- means on correspondent accounts in National Bank of the Kyrgyz Republic;

- means on correspondent accounts in banks;

- interbank deposits with repayment period of 7 days;

- the state treasurer bills of exchange and other highly liquid securities issued by the Government of the Kyrgyz Republic and National Bank (further - highly liquid securities). These securities in case of calculation of the standard rate of liquidity are considered minus award (discount) and unrealized profit (losses);

- the highly liquid securities purchased under the repo-agreement.

2) ABOUT - obligations of bank which for calculation of the standard rate of liquidity treat:

- on-demand deposits of legal entities and physical persons in national and foreign currency, and also money in calculations;

- the amount of term deposit (deposit) if terms of the contract provide possibility of partial replenishment and/or withdrawal by the client of money before the expiration or before other obligations, without the need for agreement cancelation and payment of penal interest rate, the remaining balance which except for is not reduced;

- any other obligations, including bills of exchange and other securities issued by bank, obligations on the securities sold under the return repo-agreement and also off-balance obligations, calculations for which come within 30 days after reporting date.";

4) Item 4.4. state in the following edition:

"4.4. Any quick assets which are providing according to obligations of bank and also the highly liquid securities sold under the repo-agreement are excluded from structure of quick assets.";

To add 5) with Items 4.8. - 4.17. following content:

"4.8. The standard rate of short-term liquidity (K3.2) needs to be supported at the level of not lower than 35%.

4.9. The standard rate of short-term liquidity (K3.2) is determined by formula:

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