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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 24, 2020 No. 2020-P-12/15-7-(NPA)

About some temporary solutions of National Bank of the Kyrgyz Republic concerning establishment of the economic standard rates and requirements obligatory for accomplishment by commercial banks and non-bank financial credit institutions of the Kyrgyz Republic

(as amended on 27-01-2021)

Due to the situation which developed because of COVID-19, pandemic for the purpose of preserving stability in bank and financial systems of the country 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:

1. Before adoption of the relevant decision of Board of National Bank of the Kyrgyz Republic to suspend:

1) operation of resolutions of Board of National Bank of the Kyrgyz Republic:

- "About approval of the Provision "About Requirements to Disclosure of Information on Activities of Commercial Bank" of October 30, 2019 No. 2019-P-12/54-4-(NPA);

- "About the Provision "About Requirements to Forming of the Financial Reporting and Submission of Information by the Non-bank Financial Credit Institutions Which Are Acting on the Basis of the Licenses (Certificate) of National Bank of the Kyrgyz Republic" of December 27, 2003 No. 36/1;

2) entry into force following resolutions of Board of National Bank of the Kyrgyz Republic:

- "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic" of December 27, 2019 No. 2019-P-12/68-2-(NPA);

- "About approval of the Provision "About the Economic Standard Rates and Requirements Obligatory for Accomplishment of the Kyrgyz Republic by Commercial Banks" of December 27, 2019 No. 2019-P-12/68-3-(NPA);

- "About approval of the Provision "About Calculation of Coverage Ratio of Liquidity of Commercial Banks" of December 27, 2019 No. 2019-P-12/68-4-(NPA).

2. Paragraph one of ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.01.2021 No. 2021-P-12/4-6-(NPA)

 Paragraph two of ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.01.2021 No. 2021-P-12/4-6-(NPA);

The paragraph third ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.01.2021 No. 2021-P-12/4-6-(NPA);

The paragraph the fourth ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.01.2021 No. 2021-P-12/4-6-(NPA)

3. Banks and non-bank financial credit institutions shall create reserve on covering of potential losses and losses (RPPU) in the amount of 100 percent on the amount of the overdue added interest payments on the credits to which the status of not charge of interest income, in case of approach of overdue debt of 270 days and is given above, to the koronavirusny infection connected with circumstances of distribution.

At the same time banks and non-bank financial credit institutions have the right to create RPPU on the amount of the added percent on the credits on individual basis before 270 days depending on quality of the credit and repayment periods, according to the internal documents.

4. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 17.06.2020 No. 2020-P-33/35-1-(NFKU

5. This resolution becomes effective from the date of its official publication and is effective before adoption of the relevant decision of Board of National Bank.

6. 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.

7. 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, OYuL "Association of the Microfinancial Organizations", JSC Finance Company of Credit Unions, the microfinancial organizations, credit unions, the relevant structural divisions, regional managements, representative offices of National Bank in Batken Province.

8. 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

T. Abdygulov

 

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