of March 11, 2022 No. 135
About approval of the Procedure for placement in commercial banks of temporarily available funds of budgets of budget system of the Kyrgyz Republic
For the purpose of determination of procedure for placement of temporarily available funds of budgets of budget system of the Kyrgyz Republic, according to Articles 71, 111 Budget codes of the Kyrgyz Republic, articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:
1. Approve the Procedure for placement in commercial banks of temporarily available funds of budgets of budget system of the Kyrgyz Republic according to appendix.
Chairman of the Cabinet of Ministers of the Kyrgyz Republic
to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of March 11, 2022 No. 135
1. This Procedure determines procedures and conditions of placement by authorized state body on forecasting and budget implementation of temporarily available funds of budgets of budget system of the Kyrgyz Republic in commercial banks.
2. In this Procedure the following terms and determinations are used:
1) the single treasurer account - the centralized account of authorized state body on which money of budgets of budget system of the Kyrgyz Republic is accumulated and also transactions of state bodies on cash budget implementation of the sector of public administration of the Kyrgyz Republic are reflected;
2) authorized state body on placement of temporarily available funds of budgets of budget system - the central executive body authorized by the Cabinet of Ministers of the Kyrgyz Republic on implementation of placement of temporarily available funds of budgets of budget system of the Kyrgyz Republic in commercial banks (further - authorized state body);
3) the deposit - the cash amount placed by authorized state body in commercial banks for certain term;
4) the agreement on placement - the agreement between authorized state body and commercial bank determining conditions of placement of deposit amounts.
3. Placement of temporarily free money of budgets of budget system is performed for the purpose of effective management of budgetary funds.
4. The minimum size of money on the Single treasurer account after placement in commercial banks is established in the amount, at least an amount of the monthly salary fund under the republican budget of the Kyrgyz Republic.
5. The authorized state body for the purpose of building of the Kyrgyz Republic by National Bank (further - National Bank) tactical steps on forecasting and liquidity management and possible effect on the foreign exchange market of the country notifies National Bank on the forthcoming investment of funds in commercial banks with indication of specific amounts of placement.
6. Temporarily available funds in foreign currencies which are on accounts of the Cabinet of Ministers of the Kyrgyz Republic (further - the Cabinet of Ministers), are placed authorized state body in commercial banks according to the procedure and on the conditions provided by this Procedure.
7. The money received in the form of interest income of placement of temporarily available funds of budgets of budget system is subject to transfer to the Single treasurer account which further use will be performed according to the relevant decision of the Cabinet of Ministers.
8. The authorized state body places on deposits in commercial banks temporarily available funds of budgets of budget system of the Kyrgyz Republic.
9. The decision on placement of temporarily available funds is made in the form of the publication of the relevant order of authorized state body.
10. In case of temporary cash gap in the amount necessary for covering of temporary cash gap, the authorized state body ahead of schedule withdraws the placed temporarily free money within three working days for transfer to the account of authorized state body.
Conditions of early return are determined by the agreement on placement.
11. Temporarily available funds of budgets of budget system are placed on bank deposits with the following provisions:
1) currency of the deposit is the national currency of the Kyrgyz Republic or foreign currency;
The deposit term constitutes 2) up to 12 months, but no more than a date of termination of calendar (budget) year;
3) the interest rate for each separate deposit is fixed for all deposit term;
4) payment of interest income is performed monthly, and for deposits for a period of up to 1 month - at the end of deposit term;
5) the possibility of early return of the amount (part of the amount) of the deposit according to the written requirement of authorized state body is provided;
6) the amount of temporarily available funds placed in one commercial bank cannot exceed 50 percent of total volume of the placed temporarily available funds;
7) participation of commercial banks in system of protection of deposits according to the legislation on protection of deposits.
12. Terms and conditions of placement of deposits shall be identical to all commercial banks.
13. The authorized state body posts on the official site information on the invitation of commercial banks to participation in placement of temporarily available funds and its approved parameters.
14. The commercial bank provides the application for participation in placement signed by the authorized person of commercial bank and certified by seal of commercial bank of paper format.
The commitment form affirms authorized state body and is posted on the official site of state body.
15. The authorized state body provides acceptance and performs registration of requests of commercial banks for participation in placement.
The applications submitted by commercial banks are registered authorized state body in the magazine of registration of requests by introduction of the corresponding records with assignment of number, specifying of date and time of their acceptance. In case of withdrawal of the request in the magazine of registration of requests date and time of its response is specified.
16. Each of requests shall correspond to the parameters of the corresponding placement approved by authorized state body. Mandatory requirements of the request are amount of means to placement in commercial bank and interest rate of bank deposit.
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