RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 26, 2023 No. 488

About approval of the Instruction about procedure for provision of money in the form of the credit and their return (repayment)

Based on Article part three 22, of the paragraph of the fourteenth of Article 26, the Board of National Bank of the Republic of Belarus DECIDES: parts one of Article 39 and part ten of article 150 of the Bank code of the Republic of Belarus

1. Approve the Instruction about procedure for provision of money in the form of the credit and their return (repayment) it (is applied).

2. This resolution becomes effective since January 15, 2024.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of December 26, 2023 No. 488

The instruction about procedure for provision of money in the form of the credit and their return (repayment)

Chapter 1. General provisions

1. This Instruction determines procedure and conditions of provision by banks, non-bank credit and financial organizations (further – NKFO) money in the form of the credit (further – loan granting) and their return (repayment) based on the credit agreement or other agreement containing essential conditions of the credit agreement (further – the credit agreement). The loan is granted to legal entities (including to banks, NKFO) and to the individual entrepreneurs performing business activity both with opening and without opening of the current (settlement) bank accounts (further – individual entrepreneurs), in Belarusian rubles and foreign currency, to physical persons, except for individual entrepreneurs (further – physical persons), – in Belarusian rubles.

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

renewable credit line – credit line, on which perhaps numerous provision of trenches of the credit (credit) taking into account earlier returned (extinguished) amount of tranche of the credit (credit amount) within the maximum size (limit) of the credit and (or) the extreme size of one-time debt on it established in the credit agreement during the term determined by the credit agreement;

the greys-period – the period specified in the credit agreement during which interests on credit are not charged or charged in the lowered size;

the applicant – the legal entity (including bank, NKFO), the individual entrepreneur or the physical person who addressed to bank, NKFO behind receipt of the credit;

konsortsialny crediting – the loan granted to one borrower by several loan providers (participating banks, foreign banks, foreign and international financial institutions) based on the konsortsialny credit agreement signed between one of loan providers determined by members of consortium from their number and the borrower;

the credit – the money provided by the loan provider to the borrower in the amount of and on the conditions provided by the credit agreement;

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