RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 8, 2017 No. 2017-P-12/23-3-(NPA)

About the minimum size authorized and own (regulating) capitals of commercial banks

For the purpose of strengthening of stability, safety and reliability of bank system, being guided by articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", article 3 of the Law of the Kyrgyz Republic "About enforcement of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", the Board of National Bank of the Kyrgyz Republic decides:

1. Establish the minimum size of the authorized capital for newly created commercial banks (including the requirement to the capital of branches of foreign banks) in the amount of at least 600 million som.

2. Establish for the operating commercial banks (including branches of foreign banks) the minimum size of the authorized capital and the following terms of its forming:

till July 1, 2016 - 400 million som;

till July 1, 2017 - 500 million som;

till July 1, 2018 - 600 million som.

3. Establish the economic standard rate by the minimum size of own (regulating) capital for the newly created and operating commercial banks (including branches of foreign banks) in the amount of at least minimum size of the authorized capital established for the operating commercial banks.

4. Recognize invalid the following resolutions of Board of National Bank of the Kyrgyz Republic:

- "About the minimum size of the authorized capital of commercial banks" of March 11, 2015 No. 16/1;

- "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 24, 2015 No. 35/5.

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