RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of October 8, 2024 No. 318

About approval of the Regulations on branches of foreign banks

Based on Article part one 39, of parts three and the fifth article 91 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Approve Regulations on branches of foreign banks it (is applied).

2. This resolution becomes effective after its official publication.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of December 8, 2024 No. 318

Regulations on branches of foreign banks

Chapter 1. General provisions

1. This Provision determines procedure for opening, the basis and procedure for the termination of activities of branches of foreign banks in the territory of the Republic of Belarus, and also features of regulation of the specified activities and banking supervision behind it.

For the purposes of this provision the terms "currency exchange transactions", "foreign banks", "nonresidents" are used in the values determined respectively by subitems 1. 2, 1.9, 1.10 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".

2. The branch of foreign bank performs the activities in the territory of the Republic of Belarus based on permission to opening and implementation of activities of branch of the foreign bank in the territory of the Republic of Belarus (further, if is not established other, – permission) issued by National Bank according to the procedure established by this Provision and also the regulations on branch approved by the foreign bank which opened it.

3. Based on permission the branch of foreign bank has the right to perform concerning the clients who are legal entities, including banks respondents, the following activities:

3.1. for carrying out calculations:

attraction of money on the current (settlement) bank accounts;

opening and maintaining bank accounts;

implementation of settlement and (or) bank cash servicing;

issue of the bank payment cards and other payment instruments requiring opening and account management and carrying out settlement transactions on the payments accepted when using such payment instruments;

currency exchange transactions;

settlement transactions;

consulting and information services;

issue of electronic money;

distribution of electronic money;

exchange of electronic money;

repayment of electronic money;

payment services of clearing;

information payment services;

services of the operator of payment system in the organization of payment system;

payment initiation;

acquiring of payment transactions;

processing services;

other stipulated by the legislation activities performed for own needs and (or) necessary for ensuring banking operations listed in this subitem;

3.2. for implementation of other transactions subject to credit risk:

placement of borrowed funds on its own behalf and at own expense on the terms of recoverability, the paid nature and urgency (including loan granting);

issue of bank guarantees and other transactions with bank guarantees;

leasing activities;

financing under concession of monetary claim (factoring);

other stipulated by the legislation activities performed for own needs and (or) necessary for ensuring banking operations listed in this subitem.

4. The foreign bank performs activities in the territory of the Republic of Belarus no more than through one branch of foreign bank placed to one address (location).

The branch of foreign bank is considered open and performs the activities in the territory of the Republic of Belarus from the date of entering of record about its opening into the register of representative offices of the foreign organizations and branches of foreign legal entities (further – the register).

When implementing activities of branch of foreign bank in the territory of the Republic of Belarus the rights and obligations arise directly at foreign bank.

The name of branch of foreign bank is specified in one of official languages of the Republic of Belarus, "bank branch" and the name of the foreign bank which opened such branch contains words.

Entering into the register of records about opening of branch of foreign bank, suspension, renewal, the termination of its activities in the territory of the Republic of Belarus is performed no later than three working days after adoption of the relevant decision by National Bank in time.

The branch of foreign bank has the official site on the global computer Internet which network address is placed in national domain zones ".by" and (or) ".bet".

The foreign bank when implementing activities in the territory of the Republic of Belarus through the branch observes the bank law, the legislation on prevention of legalization of income gained in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction (further – POD/FT) in the amount established for banks.

The branch of foreign bank reflects the transactions performed by it in financial accounting, and also constitutes accounting (financial) records according to the regulatory legal acts of National Bank regulating questions of financial accounting and accounting (financial) records for banks and the non-bank credit and financial organizations.

Chapter 2. Conditions of opening of branch of foreign bank

5. For opening of branch of foreign bank in the territory of the Republic of Belarus by the foreign bank complies the following conditions:

5.1. the foreign bank performs banking activity in the country of the place of its stay (registration) at least three years based on the special permission (license) for implementation of banking activity issued by authorized body (further – the license);

5.2. the foreign bank treats the banks of groups "A", "B", "C", "D" determined according to subitems 2.1-2.4 of Item 2 of the Instruction on standard rates of safe functioning approved by the resolution of Board of National Bank of the Republic of Belarus of July 11, 2022 No. 257;

5.3. the foreign bank has authorized capital in the amount of, equivalent at least 60 million US dollars;

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