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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 13, 2019 No. 2019-P-07/10-2-(DKP)

About standard rates of mandatory reserve requirements for banks

According to Articles 20, 27 and 68 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" and the Provision "About Required Reserves" approved by the resolution of Board of National Bank of the Kyrgyz Republic of March 13, 2019 No. 2019-P-07/10-1-(DKP), the Board of National Bank of the Kyrgyz Republic decides:

1. Establish for banks the following sizes of required reserves according to the obligations entering calculation base of required reserves:

1) according to obligations in national currency - at the percent 4,00 level from the amount of the obligations entering calculation base in national currency;

2) according to obligations in Armenian drams, Belarusian rubles, the Kazakh tenges, the Chinese yuans renminbi, Russian rubles - at the percent 4,00 level from the amount of the obligations entering calculation base in Armenian drams, Belarusian rubles, the Kazakh tenges, the Chinese yuans renminbi and Russian rubles;

3) according to obligations in foreign currencies, 2 presents of Item except for specified in the subitem - at the percent 14,00 level from the amount of the obligations entering calculation base in these foreign currencies;

4) according to obligations on the depersonalized metal accounts - at the level of zero percent from the amount of the obligations entering calculation base on the depersonalized metal accounts.

2. Establish the following sizes of the assets included in reserve assets for observance of ORT:

1) for money of banks on correspondent account in National Bank of the Kyrgyz Republic - at the percent 100,00 level from the total amount of the means specified in this subitem;

2) for assets in the form of gold on the depersonalized metal account of banks in National Bank to the Kyrgyz Republic - at the percent 100,00 level from the total amount of the assets specified in this subitem;

3) for balances on hand in ATMs of banks in national currency - at the percent 30,00 level from the total amount of the means specified in this subitem.

3. Establish the minimum threshold level at the percent 80,00 level from amount of the required reserves established for the corresponding period.

4. Establish rate of compensation for observance of required reserves by banks at the level of zero percent.

5. Establish the size of penalty for non-compliance with mandatory reserve requirements for banks in the amount of triple average discount rate of National Bank of the Kyrgyz Republic for base period.

6. Establish the size of penalty for non-compliance with the minimum threshold level from amount of required reserves in the amount of triple discount rate of National Bank of the Kyrgyz Republic established for the corresponding day.

7. Approve the list of obligations for calculation of required reserves of banks it (is applied).

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

- "About review of the amount of compensation for observance of mandatory reserve requirements" of September 30, 2008 No. 36/2;

- "About approval of the List of obligations for calculation of required reserves" of September 15, 2010 No. 73/3;

- "About modification of the resolution of Board of National Bank of the Kyrgyz Republic "About the daily minimum level of required reserves of banks" of November 14, 2014 No. 50/1" of December 8, 2014 No. 54/2;

9. To legal management:

- publish this resolution on the official website 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.

10. To economic management to bring this resolution to the attention of banks.

11. This resolution becomes effective since April 1, 2019.

12. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Economic management.

Chairman of the board of National Bank of the Kyrgyz Republic

T. Abdygulov

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of March 13, 2019 No. 2019-P-07/10-2-(DKP)

The list of obligations for calculation of required reserves of banks (*)

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