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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of September 11, 2013 No. 524

About some questions of compensation

(The last edition from 22-12-2017)

Based on subitem 1.2 of Item 1 of the Presidential decree of the Republic of Belarus of May 15, 2008 No. 271 "About some questions of regulation of activities of banks", the paragraph of the seventh 34, parts one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES: Article parts four

1. Approve enclosed:

1.1. The instruction about compensation of employees of banks;

1.2. The instruction about procedure and conditions of payment of remuneration following the results of work for accounting year or annual bonus.

2. Determine that:

2.1. banks are developed and approve the local regulatory legal acts concerning compensation providing procedure for establishment of the amount of compensation of workers including heads, depending on results of financial and economic activities of bank and accomplishment of indicators of its activities taking into account requirements of the legislation of the Republic of Belarus, including on the organization of corporate management system;

2.2. the coefficient of ratio of the average salary of the head of bank and the average salary on bank in general (further - coefficient) is established by authorized body of management of bank according to the legislation of the Republic of Belarus.

Concerning the deputy manager, the chief accountant of bank this coefficient cannot exceed coefficient of the ratio established according to the legislation of the Republic of Belarus for the head of bank taking into account the requirement of part four of this subitem. The coefficient size for each of the specified officials is determined by authorized body of management of bank.

The actual coefficient is calculated on bank in general the accruing result since the beginning of accounting year according to the legislation of the Republic of Belarus.

Calculation of coefficient does not join the payments which are not considered according to the legislation of the Republic of Belarus when calculating coefficient of ratio of the average salary of the head of the organization irrespective of pattern of ownership and the average salary on the organization in general. At the same time when calculating coefficient in the salary of the head of bank are not considered:

one-time encouragement (awards, remunerations) for rewarding with the state awards, breastplates, certificates of honor, the announcement of gratitude performed in accordance with the established procedure irrespective of payment source in the amount of no more than 1 salary inclusive for each type of encouragement;

financial support by provision of labor leave in the amount of 2 salaries inclusive and financial support (lump sum payments) on the bases provided in the collective agreement or other local regulatory legal act, in general size no more than 2 salaries;

2.3. to the head of bank, his deputy and the chief accountant are not charged and all types of awards and remunerations in the absence of profit are not paid for the accounting period, availability of debt on salary payment and (or) growth of loss for the accounting period in comparison with previous period on bank in general;

2.4.  No. 425 is excluded according to the Resolution of Board of National Bank of the Republic of Belarus of 01.08.2016;

2.5. banks monthly no later than the 12th following reporting provide in National Bank of the Republic of Belarus information on compensation indicators according to appendix to this resolution.

Information specified in part one of this subitem is presented in the form of the text file by e-mail ProCarry to mailbox of MAKET.NBRB or through documentary information portal of National Bank of the Republic of Belarus on the global computer Internet;

2.6. the tariff charge of the first category in bank in which authorized capital the ownership ratio of the state constitutes more than 50 percent is established by authorized body of management of bank taking into account availability of funds for compensation. Its further increase is made according to the procedure, determined by authorized body of management of bank.

3. Recommend to banks in which authorized capital the ownership ratio of the state constitutes less than 50 percent or is absent, determine payment terms of work of workers according to the Instruction about the compensation of employees of banks approved by this resolution.

4. To banks in three-months time to bring the local regulatory legal acts into accord with this resolution.

5. Declare invalid the resolution of Board of National Bank of the Republic of Belarus of November 9, 2010 No. 479 "About approval of the Instruction about compensation of employees of banks" (The national register of legal acts of the Republic of Belarus, 2010, No. 287, 8/22980).

6. This resolution becomes effective after its official publication.

Chairman of the board

N. A. Ermakova

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