of March 18, 2020 No. 2020-P-12/13-1-(BS)
About provisional rules of regulation of activities of financial credit institutions in connection with COVID-19 pandemic
Due to the situation which developed because of COVID-19 pandemic (further - koronavirusny infection) for the purpose of preserving stability in bank and financial systems, consumer protection of banking services, and also, according to articles 20 and 68 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 smoothings of negative consequences for economy of the Kyrgyz Republic:
1. To the banks and non-bank financial credit institutions registered in the Kyrgyz Republic in connection with spread of koronavirusny infection (closure of borders, introduction of restrictions by the state, quarantine, etc.):
- not charge and not levy the commission and other payments connected with review of conditions of credit agreements;
- not impose and not levy penalties, including penalty (penalties/penalty fee), on borrowers for non-execution / improper execution of the obligations provided by credit agreements.
2. In case of change of conditions of the credit agreements connected with changes of cash flows and financial position of the borrower in view of spread of koronavirusny infection, on such credits non-bank financial credit institution, except the microfinance companies having the right to attraction of deposits, guarantee funds and JSC Finance Company of Credit Unions. has the right not to worsen category of classification regardless of the following conditions:
- this credit was earlier restructured;
- availability of the overdue amounts on debt repayment on the credits in view of the circumstances connected with spread of koronavirusny infection.
3. Change of conditions of credit agreements, including on earlier restructured credits, to carry out taking into account economic forecasts, the analysis of the foreign and domestic market, cash flows and financial condition of the borrower, with respect for the principles of conscientiousness, transparency, reliability, partnership in relation to borrowers, accounting of their economic interests and financial opportunities.
4. To banks and non-bank financial credit institutions to recommend to make review of payment due dates on the credits connected with circumstances of spread of koronavirusny infection and to grant delay on payments, at least, for 3 (three) months in case of the address of borrowers.
5. In case of the overdue debt connected with circumstances of spread of koronavirusny infection and also following the results of carrying out monitoring of the credits of borrowers whose business activity is connected with the restrictions introduced in view of spread of koronavirusny infection, non-bank financial credit institution except the microfinance companies having the right to attraction of deposits, guarantee funds and JSC Finance Company of Credit Unions has the right not to worsen category classification in connection with change of financial flows and the current financial status of the borrower.
6. Credit bureau to provide the column in the report format provided by suppliers of credit information on overdue loans of borrowers for specifying of the status of violation of conditions of the credit agreement in communication by spread of koronavirusny infection.
7. To specify to suppliers of credit information in case of information transfer by credit bureau on overdue loans the payment delay reason on the credits in communication by spread of koronavirusny infection.
8. To provide to banks and non-bank financial credit institutions in National Bank information on the credits on which conditions within this resolution, including on the restructured credits as of the 15th and the last working day of every month were changed.
8-1. To commercial banks, in independence of in what bank the customer account is opened (the pensioner, the receiver of public welfare payments) not to charge the fee from the client in case of money withdrawal on national settlement system with use of bank payment cards Elkart by means of ATMs, Items of cash disbursement of money, POS terminals and other peripheral devices, including on each transaction which is carried out via POS terminals within the agency agreement with GP "Kyrgyz of Pochtasa".
8-2. Interbank Processing Center Ltd not charge the fee at commercial banks for processing of payments on the national Elkart cards of pensioners and receivers of public welfare payments.
9. Regulating requirements of regulatory legal acts of National Bank of the Kyrgyz Republic in the part which is not contradicting this resolution extend to banks and non-bank financial credit institutions.
11. 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.
12. To management of methodology of supervision and licensing of banks to bring this resolution to the attention of OYuL "Union of Banks of Kyrgyzstan", commercial banks, National bank of development of the Kyrgyz Republic, OYuL "Association of the Microfinancial Organizations", the microfinancial organizations, credit unions, JSC Finance Company of Credit Unions, JSC Garantiyny fond, credit bureaus, all structural divisions, regional managements, representative office of National Bank in Batken Province.
13. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Management of methodology of supervision and licensing of banks.
Chairman of the board of National Bank of the Kyrgyz Republic
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