RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 25, 2020 No. 2020-P-19/16-5-(NPA)

About introduction of amendments to the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About procedure for carrying out payments and calculations in grossovy settlement system in real time in the Kyrgyz Republic" of May 27, 2009 No. 25/11

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. Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About procedure for carrying out payments and calculations in grossovy settlement system in real time in the Kyrgyz Republic" of May 27, 2009 No. 25/11 the enclosed changes.

2. 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 inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

3. This resolution becomes effective after fifteen days from the date of its official publication.

4. To management of bank calculations to bring this resolution to the attention of commercial banks, Interstate bank, Eurasian Development Bank, the Central Treasury of the Ministry of Finance of the Kyrgyz Republic, Social fund of the Kyrgyz Republic, the State accumulation pension fund under Social fund of the Kyrgyz Republic, Agency on protection of deposits of the Kyrgyz Republic, Central Depositary Ltd and the relevant structural divisions of National Bank of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Management of bank calculations.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of March 25, 2020 No. 2020-P-19/16-5-(NPA)

Changes in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About procedure for carrying out payments and calculations in grossovy settlement system in real time in the Kyrgyz Republic" of May 27, 2009 No. 25/11

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About procedure for carrying out payments and calculations in grossovy settlement system in real time in the Kyrgyz Republic" of May 27, 2009 No. 25/11 the following changes:

in Item 1 of the resolution in state language of the word "айкын убакыт yrgagynda Esepteshuulordun гросстук sistemasa to arkylu электрондук to bildiruulord to otkoru" shall be replaced with words "Esepteshuulordun гросстук sistemasa to arkylu айкын убакыт yrgagynda to tolomdord to Jean Esseptechououlordou's otkoru to zhurguzu";

in the Instruction "About procedure for carrying out payments and calculations in grossovy settlement system in real time in the Kyrgyz Republic", approved by the above-stated resolution:

- in state language to state the name of the Instruction in the following edition:

"Kyrgyz Respublikasynda Esepteshuulordun гросстук sistemasa to arkylu айкын убакыт yrgagynda to tolomdord to Jean Esseptechououlordou's otkoru to tartiba zhurguzu жонундо нускоо";

- state Item 1.4 in the following edition:

"1.4. The principles and risk management methods in GSRRV are given in Policy on risk management in the payment system of the Kyrgyz Republic and the Provision "About Grossovy Settlement System in Real Time in the Kyrgyz Republic" approved by the resolution of Board of National Bank.";

- state Item 1.5 in the following edition:

"1.5. Formats of electronic payment documents and messages of system are determined in the document "Formats of Electronic Messages in the Grossovy Settlement System in Real Time (GSRRV) and Rules of Their Filling" (further - Rules of filling of formats).";

- in Item 1.8 of the word of "digital signature" shall be replaced with words "digital signature";

- state Item 2.1 in the following edition:

"2.1. The participating payer accepts source payment document from the client payer in duplicate. One copy of source payment document remains at the participating payer. Other copy of source payment document returns to the client payer with mark about its acceptance to execution.

If exchange of source payment documents between the client payer and the participating payer is performed electronically, the participating payer confirms to the client payer receipt of the electronic document in accordance with the terms of the contract between the participating payer and the client payer, and also according to internal regulating documents and procedures of the participating payer.

From the moment of receipt of source payment document by the client payer of copy with the participating payer's mark about its acceptance to execution this payment is irrevocable for the client payer, and from the moment of write-off of funds from the account of the client payer this payment for it becomes final.";

- to state subitem 3.1.1 of Item 3.1 in the following edition:

"3.1.1. Processing of EPD is made according to regulations of work of GSRRV which are divided into the next periods:

Name of the period	Period duration
Start of day it is open for business	8:30-8:40  8:40 - 9:00
Final settlement of net line items of participants on the international settlement systems payment cards (VISA, MasterCard)	9:00-17:00
Acceptance and processing in GSRRV EPD and messages	9:00-17:20
Transfer by participants of GSRRV of reserve of money on debit net line item in joint project company	8:45-13:30
Forming of reserve on debit net line item and its transfer to joint project company	13:30-13:50
Final settlement of net line items of participants following the results of the clearing session of joint project company	13:50-14:20
Initial shutdown (settlement window)	16:30
Final shutdown	17:00
Completion of calculations	17:20

Being guided by Article 96 of the Labor code of the Kyrgyz Republic concerning duration of the working day which is directly preceding non-working holiday, the regulations of work of GSRRV are reduced by one hour and the next time of the beginning of the periods of regulations of GSRRV is established:

Name of the period	Period duration
Initial shutdown (settlement window)	15:30
Final shutdown	16:00
Completion of calculations	16:20

";

- in subitem 3.1.5 of Item 3.1 of the word in quotes to "system of the participant" to replace with the word to "system";

- state Item 3.2 in the following edition:

"3.2. Opening of day in GSRRV

Opening of day in GSRRV is performed by means of accomplishment on priority of two periods "Start of day" and "Is open for business". The operator of GSRRV during opening of day carries out preparation of system (installation of parameters, their setup and preparation of system for the beginning of work).

During the period "Start of day" queues of messages are started, payments of National Bank are processed, payments of participants are transferred to the status of "WAITING" (Expectation). After accomplishment of the period "Start of day" the operator of GSRRV performs billing collection (payment for services GSRRV).

After accomplishment of the period "It is open for business" the system takes all payment types (client MT 103 and interbank MT 202).";

- declare Item 3.3 invalid;

- in subitem 3.4.3 of Item 3.4 of the word of "digital signature" shall be replaced with words "digital signature", to replace abbreviation of "EDS" with abbreviation of "EDS" respectively;

- in subitems 3.5. 3.5.2, 3.7.2 and 3.8.1 abbreviation of "EDS" to replace 1, with abbreviation of "EDS";

- add Item 3.8 with subitem 3.8.5 of the following content:

"3.8.5. Final settlement of net line items of participants on the international settlement systems is carried out by payment cards (VISA, MasterCard) based on signed agreements and agreements, and also according to internal procedures of National Bank.";

in Item 3.9:

- state subitem 3.9.2 in the following edition:

"3.9.2. In case of approach of the period of final shutdown in GSRRV there comes the prohibition on input of interbank payments, at the same time all client and interbank payments which are by this moment in queues of payments, are rejected by system or the operator of GSRRV in the manual mode for correct approach of the periods of shutdowns of GSRRV.

The right to input of transactions in system between final shutdown and completion of calculations has only National Bank.";

- subitem 3.9.5. declare invalid;

- in subitem 3.9.6. replace the word "payments" with the word "messages";

-  in state language to state the name of Appendix 1 in the following edition:

"Kyrgyz Respublikasynda Esepteshuulordun гросстук sistemasa to arkylu айкын убакыт yrgagynda to tolomdord to Jean Esseptechououlordou's otkoru to tartiba zhurguzu жонундо nuskoy carat To 1-tirkema

GSRRV of sistemasynd электрондук to tolomdord иштеп chyguuda филиалдын Banktyk идентификациялык кодун to paydalanu
TARTIB";

-  State appendix 2 in the following edition:

"Appendix 2

to the Instruction about procedure for carrying out payments and calculations in grossovy settlement system in real time

Processing rules of payments according to participant status

The participant status is established by the operator of GSRRV based on the decisions made by the resolution of Board of National Bank or Committee on supervision of National Bank on revocation of license, on introduction of Temporary administration, direct banking supervision, bankruptcy, etc.

In system the following participants statuses are determined:

1. The statuses relating to participants of system:

ACTIVE - the participant is active, carrying out both debit, and credit payments is possible;

BLOCKED INCOMING - the participant has prohibition on accomplishment of credit payments (account replenishment), including on establishment of reserve of money for adjacent systems;

BLOCKED OUTGOING - the participant has prohibition on carrying out debit payments (write-off from the account), including on establishment of reserve of money for adjacent systems;

BLOCKED ALL - the participant has prohibition on carrying out both debit, and credit payments;

DISABLED - the participant cannot register payments.

2. The statuses relating to the account of the participant of system:

ACTIVE - the account of the participant is active, to the participant and on behalf of the participant payments can be registered;

APPROVE - any change of the account of the participant is in confirmation expectation;

REMOVED - the account of the participant is removed from system.

3. The payment statuses and reserves relating to payments (client MT 103 and interbank MT 202):

COMPLETE - payment is successfully paid and is final;

ENTER is intermediate status into which the payment passes right after its creation in the GSRRV system;

CANCELLED - payment is cancelled by the user or system;

APPROVE - payment or reserve of money are found in expectation confirmations;

REPAIR - payment or reserve of money are in expectation of additional adjustment;

PENDING - in the absence of means, in the amount of sufficient for carrying out payment or reserve of money, payment is placed in queue;

WAITING - payment is located in the status of WAITING if it is sent by the Participant after the period "Start of day", but till the period "Is open for business";

DEFFERED - payment is placed in queue of payments with future time of calculation during the present operational day;

FUTURE - payment is placed in queue of payments with future settlement date within several next operational days.".

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info