RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 19, 2017 No. 514

About approval of the Instruction about procedure for refinancing by National Bank of banks in the form of the credits for support of current liquidity

Based on part five of Article 31 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Approve the Instruction about procedure for refinancing by National Bank of banks in the form of the credits for support of current liquidity it (is applied).

2. Declare invalid the resolution of Board of National Bank of the Republic of Belarus of October 7, 2013 No. 579 "About approval of the Instruction about procedure for refinancing by National Bank of the Republic of Belarus for banks of the Republic of Belarus in the form of the credits provided with pledge of securities" (The national legal Internet portal of the Republic of Belarus, 29.10.2013, 8/28006).

3. This resolution becomes effective since January 1, 2018.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of December 19, 2017 No. 514

The instruction about procedure for refinancing by National Bank of banks in the form of the credits for support of current liquidity

Chapter 1. General provisions

1. This Instruction establishes procedure for refinancing by National Bank of banks in the form of the credits in the Belarusian rubles for support of current liquidity provided with pledge of securities and (or) security deposits in foreign currency (further – the credits).

2. For the purposes of this Instruction the following terms are used:

the auction credits – the loans granted by National Bank on interest rate and in the amount which are determined by conditions and results of credit auction (further – auction);

the credits overnight – the loans granted by National Bank at the initiative of banks within constantly available transactions of regulation of current liquidity for the term providing in the quality of date of return (repayment) of the credit and payment added for use of percent it the working day following behind day of loan granting;

the credits on fixed interest rate – the credits which provision in addition to initiative of banks requires positive declaration of will of National Bank in each case;

penalty – payment for violations of terms by bank of return (repayment) of the credit and (or) interest payment for use of it from the date of emergence of overdue debt on the credit and interest for using by it.

3. The National Bank provides to banks the following types of loan:

credits overnight;

the lombard credits (the credits on fixed interest rate and the auction credits).

4. The National Bank has no right to refuse to banks loan granting overnight in case of accomplishment by them of the requirements provided by this Instruction and requirements to forming of electronic documents and messages when implementing of the transactions by National Bank on regulation of liquidity of bank system established by the information technology developed by National Bank (further – technology), except for case, stipulated in Item the 8th this Instruction.

5. The application of bank on receipt of the credit on fixed interest rate can be granted by National Bank both completely, and partially. The decision on partial satisfaction of the specified statement or for refusal to bank in loan granting on fixed interest rate does not motivate National Bank.

6. In case of observance of the conditions established by this Instruction, the bank can obtain several credits of one or different types in one day, including for various or identical terms.

7. The loans are granted to banks according to the procedure, established by this Instruction, based on the general credit agreement signed between bank and National Bank and the following documents (depending on type of loan):

the letter of National Bank on conditions of carrying out transactions in the financial market;

the statement on the receipt of the credit overnight constituted in form according to appendix 1 to this Instruction and (or) the statement on the receipt of the credit on fixed interest rate constituted in form according to appendix 2 to this Instruction (further if other is not established, - the statement);

the application for participation in credit auction (further - the request) constituted in form according to appendix 3 to this Instruction;

the protocol on satisfaction of the application for participation in credit auction constituted in form according to appendix 4 to this Instruction;

the notice on provision of the credit by National Bank (further - the notice) constituted in form according to appendix 5 to this Instruction.

On each granted loan the National Bank draws up the notice. The notice is loan granting confirmation.

The National Bank and banks exchange the documents specified in paragraphs by third or pole of part one of this Item in electronic form.

Exchange of the documents and messages in electronic form used when refinancing according to this Instruction is performed through system of transfer of financial information and (or) the software and hardware complex of National Bank intended for viewing, forming and acceptance (transfer) on channels of telecommunication of electronic documents and messages and also for the organization of their processing and storage.

Requirements to forming of the documents and messages in electronic form transferred by provision and return (repayment) of the credits are established in technical regulatory legal act of National Bank.

The list necessary to installation in bank of program and technical means for viewing, forming and acceptance (transfer) of documents in electronic form to National Bank when using software and hardware complex is posted on the official site of National Bank on the global computer Internet (further - the website of National Bank).

Electronic payment documents on issuance of credits, return (repayment) of principal debt on the credits and interest payment for use of them are drawn up according to the legislation of the Republic of Belarus regulating procedure for carrying out interbank calculations taking into account the additional requirements established in technical regulatory legal act of National Bank. These documents are transferred by means of the BISS system.

8. Based on the general credit agreement according to the decision of National Bank provision of the new credits of any kind to any bank under any providing can be temporarily suspended.

9. Ensuring obligation fulfillment on the credits (further – providing) can be:

pledge of the securities included in the lombard list of the securities accepted by National Bank as providing lombard and other credits according to appendix 1 to the resolution of Board of National Bank of the Republic of Belarus of October 18, 2006 in No. 153 "About providing the credits of National Bank" (further – the lombard list);

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