RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 15, 2023 No. 2023-P-17/16-4-(NPA)

About the minimum size authorized and own (regulating) capitals of commercial banks

According to Articles 5, "About National Bank of the Kyrgyz Republic" and article 21 of the Law of the Kyrgyz Republic "About banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides 9 and 64 constitutional Laws of the Kyrgyz Republic:

1. Establish the minimum size of the authorized capital for again created commercial banks (including the requirement to the capital of branches of foreign banks) in the amount of at least 1 billion som.

2. Establish for the operating commercial banks (including branches of foreign banks) the following minimum sizes of the authorized capital in the following terms:

- since April 1, 2023 - 600 million som;

- since July 1, 2024 - 800 million som;

- since July 1, 2026 - 1 billion som.

3. Establish for the significant commercial banks operating systemically (including branches of foreign banks) the minimum size of the authorized capital in the amount of 2 billion som with forming term till July 1, 2023.

4. Determine that if commercial bank it becomes system significant, then within one year from the date of the notification National Bank about compliance to criteria of the system importance the commercial bank shall bring the size of the authorized capital to the established requirement.

5. Establish the economic standard rate by the minimum size of own (regulating) capital for again created and operating commercial banks (including branches of foreign banks) in the amount of at least minimum size of the authorized capital established for again created commercial banks according to Item 1 of this resolution, and the operating commercial banks, according to Items 2 and 3 of this resolution.

At the same time to determine that if bank it becomes system significant, then own (regulating) capital of such bank shall be brought to the established size within 3 (three) months from the date of the notification of bank by National Bank about compliance to criteria of the system importance.

6. Declare invalid the resolution of Board of National Bank of the Kyrgyz Republic "About the minimum size authorized and own (regulating) the capitals of commercial banks" of June 8, 2017 No. 2017-P-12/23-3-(NPA) since April 1, 2023.

7. This resolution becomes effective since April 1, 2023.

8. To legal management:

- from the date of receipt of the relevant documents within 3 (three) working days to 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.

9. To management of licensing within 3 (three) working days to bring this resolution to the attention of OYuL "Union of Banks of Kyrgyzstan", commercial banks, structural divisions, regional managements, Representative offices of National Bank in Batken Province.

10. To impose control of execution of this resolution on the board member of the National Bank supervising management of licensing.

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