RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 10, 2022 No. 2022-P-12/13-2-(NPA)

About temporary solutions of National Bank of the Kyrgyz Republic on regulation of activities of commercial banks of the Kyrgyz Republic

For the purpose of preserving stability in bank system of the country and 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. For commercial banks before adoption of the relevant decision of Board of National Bank of the Kyrgyz Republic:

- on again issued credits listed in the subitem 6 of Item 4.3 of the Instruction for determination of standards of sufficiency (adequacy) of the capital of commercial banks of the Kyrgyz Republic approved by the resolution of Board of National Bank of the Kyrgyz Republic of July 21, 2004 No. 18/2, to establish degree of credit risk in the amount of 300 percent;

- permit to establish correspondence relations on accounts in foreign currency with resident banks for the purpose of storage of money.

2. Within this resolution do not fall under again issued credits:

- the credits (credit lines), decisions on which issue it is accepted authorized bodies of commercial bank about day of entry into force of this resolution inclusive;

- tranches on the credit lines approved about day of entry into force of this resolution inclusive;

- the credits on which the share of the income in foreign currency in the total amount of comprehensive incomes of the borrower constitutes more than 75 percent.

3. 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.

4. 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.

5. 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, relevant structural divisions, regional managements, representative offices of National Bank in Batken Province.

6. 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.

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