RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of November 10, 2020 No. 352

About banking activities with precious metals and conditions of opening of accounts in precious metals

Based on paragraphs of the fourteenth and twenty fourth of Article 26, of the paragraph of the fourth of Article 30 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 for making of banking activities by banks with precious metals it (is applied).

2. Determine that residents *, except physical persons, banks and the non-bank credit and financial organizations, when opening accounts in precious metals in banks and other credit institutions outside the Republic of Belarus represent to National Bank the written notice of opening of the account in precious metals no later than 10 working days from the date of the conclusion of the agreement on opening of the account in precious metals.

The notification is constituted in any form with indication of the following data:

about the informer (full name, the location, accounting number of the payer);

about bank or other credit institution in which the account in precious metals is opened (full name, the location);

about the account in precious metals (date of opening of the account, precious metal of the account, the purpose of opening of the account).

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* For the purposes of this resolution the term "residents" matters, determined by subitem 1.11 of Item 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control".

3. Recognize invalid:

the resolution of Board of National Bank of the Republic of Belarus of April 4, 2006 No. 57 "About approval of the Instruction about procedure for opening and account management in precious metals";

the resolution of Board of National Bank of the Republic of Belarus of November 20, 2006 No. 187 "About modification and amendments in the Instruction about procedure for opening and account management in precious metals";

the resolution of Board of National Bank of the Republic of Belarus of September 26, 2011 No. 394 "About modification and amendments in the Instruction about procedure for opening and account management in precious metals";

the resolution of Board of National Bank of the Republics and Belarus of July 20, 2012 No. 368 "About approval of the Instruction for making of banking activities by banks with precious metals";

the resolution of Board of National Bank of the Republic of Belarus of June 3, 2015 No. 343 "About modification and amendments in some regulatory legal acts of National Bank of the Republic of Belarus";

subitem 1.1 of Item 1 of the resolution of Board of National Bank of the Republic of Belarus of April 25, 2018 No. 192 "About modification and amendments in some regulatory legal acts of National Bank of the Republic of Belarus".

4. This resolution becomes effective since January 1, 2021.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of November 10, 2020 No. 352

The instruction for making of banking activities by banks with precious metals

Chapter 1. General provisions

1. This Instruction establishes procedure for making by banks of banking activities of opening and account management in precious metals, purchase and sale of precious metals, attraction and placement of precious metals in deposits (deposits), storage precautions by banks of precious metals.

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

banks – the banks and the non-bank credit and financial organizations created according to the legislation of the Republic of Belarus and having the right to banking operations with precious metals;

nonresident banks – the banks created according to the legislation of foreign states and also the organizations registered by the Central (national) Banks or authorized bodies of the countries of their organization as the credit or financial institutions which are not banks and having the corresponding special permission (license) for making of banking activities with precious metals if need of receipt of such special permission (license) is stipulated by the legislation the nonresident bank countries, with the location outside the Republic of Belarus, and also their branches and representations which are in the Republic of Belarus and beyond its limits;

precious metals – gold, silver, platinum, palladium in the form of bank, measuring ingots, coins;

clients – physical persons, including individual entrepreneurs, and legal entities, including banks and nonresident banks with which the bank makes banking activities with precious metals;

weight in ligature – the actual lump of alloy of precious metal taking into account all components;

weight in purity – the mass of chemically net precious metal containing in alloy;

coins – coins from precious metals, including the commemorative and ingot (investment) coins which are in circulation and being means of payment in the territory of foreign states;

the name of precious metal – gold, silver, platinum, palladium;

the depersonalized precious metals – precious metals in the form of bank ingots without specifying of individual signs;

the depersonalized metal account – the account in precious metals intended for accounting of gold, silver, platinum and palladium in the form of the depersonalized precious metals;

opening and account management in precious metals – opening by banks to clients of accounts in precious metals and implementation on them of the transactions provided by this Instruction;

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