It is registered
Ministry of Justice
On June 26, 2008 No. 47-08
of May 28, 2008 No. 22/4
About approval of the Provision "About Direct Banking Supervision"
1. Approve the Provision "About Direct Banking Supervision" it (is applied).
2. In accordance with the established procedure to direct to management of methodology of supervision and licensing together with legal department this resolution to state registration in the Ministry of Justice of the Kyrgyz Republic.
4. After publication of the registered regulatory legal act to Legal department to inform the Ministry of Justice of the Kyrgyz Republic on publication source (the name of the edition, its number and date).
5. From the moment of enforcement of this resolution to declare invalid:
- the resolution of Board of National Bank of the Kyrgyz Republic No. 2/7 of January 23, 1997 "About new edition of the Provision "About Direct Banking Supervision behind Activities of Commercial Banks";
- the resolution of Board of National Bank of the Kyrgyz Republic No. 28/3 of September 10, 2003 "About modification and amendments in some regulations of National Bank of the Kyrgyz Republic".
6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Bokontayev K. K.
Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of May 28, 2008 No. 22/4
1.1. This Provision extends to the commercial banks licensed by National Bank and to National bank of development of the Kyrgyz Republic (further - bank(s)).
1.2. This Provision extends also to JSC Finance Company of Credit Unions (further - FKKS) and the credit unions which are attracting deposits from participants and/or having debt to FKKS (further - bank(s)), in the part which is not contradicting the regulatory legal acts regulating activities of data of the organizations and also taking into account their specifics according to the law of the Kyrgyz Republic "About credit unions".
1.3. Direct banking supervision is the corrective action applied in threat living conditions to stable and reliable activities of bank for the purpose of timely acceptance of necessary measures for improvement of its financial condition, early identification, the prevention of aggravation of problems which can lead to deterioration and instability of provision of bank, and also for the purpose of more best studying of financial condition, condition of accounting and the reporting and in other purposes determined by National Bank.
1.4. The main objectives of direct banking supervision are: more fixed studying and detailed solvency analysis of bank, quality of bank management, condition of accounting and the reporting and any other sites of activities which bear potential risk of deterioration of the situation; purposeful and operational monitoring and control of transactions on places, according to the powers established by Committee on supervision of National Bank (further - KPN); and also control of execution of all measures for improvement of financial condition and improvement of the situation ordered by National Bank and developed by bank.
2.1. The decision on introduction of direct banking supervision is made by KPN of National Bank.
2.2. For accomplishment of tasks of direct banking supervision of KPN sends to bank of the authorized employee / the authorized staff of National Bank. If several authorized employees go to bank (further - group of controllers), their Head is appointed (further - the Head of group of controllers). If one duly authorized officer goes to bank (further - the Controller), it performs functions of the Head of group of controllers (when applicable).
2.2.1. Depending on the bases for introduction of direct banking supervision the number and structure of group of controllers are determined.
According to the purposes and the reasons of introduction of direct banking supervision the circle of tasks, direct obligations for which controllers/group of controllers are responsible are determined.
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