RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 30, 2003 No. 226

About approval of the instruction about procedure for provision (placement) of money by banks in the form of the credit and their return

Based on Articles 14, of 26, the Board of National Bank of the Republic of Belarus DECIDES: 146 Bank codes of the Republic of Belarus

1. Approve the enclosed Instruction about procedure for provision (placement) of money by banks in the form of the credit and their return.

2. From Item 13 of the Instruction on bank transfer approved by the resolution of Board of National Bank of the Republic of Belarus of March 29, 2001 No. 66 (The national register of legal acts of the Republic of Belarus, 2001, No. 49, 8/5770; 2003, No. 87, 8/9813), the word "current" to exclude.

3. To provide to structural divisions of central office of National Bank of the Republic of Belarus no later than July 1, 2004 reduction in compliance with this resolution of regulatory legal acts of National Bank of the Republic of Belarus.

4. Recognize invalid:

the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 116 "About approval of Rules of placement by banks of the Republic of Belarus of money in the form of the credit" (The national register of legal acts of the Republic of Belarus, 2001, No. 61, 8/6239);

the resolution of Board of National Bank of the Republic of Belarus of June 28, 2001 No. 153 "About features of placement by banks of the Republic of Belarus of money in the form of the credits and deposits in banks of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2001, No. 79, 8/6447);

the resolution of Board of National Bank of the Republic of Belarus of November 27, 2001 No. 305 "About modification and amendments in the Rules of placement by banks of the Republic of Belarus of money in the form of the credit approved by the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 116" (The national register of legal acts of the Republic of Belarus, 2001, No. 119, 8/7532);

the resolution of Board of National Bank of the Republic of Belarus of December 27, 2001 No. 332 "About modification of the Rules of placement by banks of the Republic of Belarus of money in the form of the credit approved by the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 116" (The national register of legal acts of the Republic of Belarus, 2002, No. 19, 8/7714);

the resolution of Board of National Bank of the Republic of Belarus of September 24, 2002 No. 185 "About modification and amendments in the Rules of placement by banks of the Republic of Belarus of money in the form of the credit approved by the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 116" (The national register of legal acts of the Republic of Belarus, 2002, No. 112, 8/8606);

the resolution of Board of National Bank of the Republic of Belarus of December 26, 2002 No. 249 "About modification and amendments in the Rules of placement by banks of the Republic of Belarus of money in the form of the credit approved by the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 116" (The national register of legal acts of the Republic of Belarus, 2003, No. 14, 8/8995);

the resolution of Board of National Bank of the Republic of Belarus of March 6, 2003 No. 39 "About entering of amendments and changes into the Rules of placement by banks of the Republic of Belarus of money in the form of the credit approved by the resolution of Board of National Bank of the Republic of Belarus of May 24, 2001 No. 116" (The national register of legal acts of the Republic of Belarus, 2003, No. 35, 8/9266);

the letter of National Bank of the Republic of Belarus of May 21, 1999 No. 04-14/350 "About offers of banks on enhancement of the regulatory base" (The national register of legal acts of the Republic of Belarus, 1999, No. 51, 8/446).

5. This resolution becomes effective since July 1, 2004, except for Item 3 of the resolution and Item 6 of the enclosed Instruction on procedure for provision (placement) of money by banks in the form of the credit and their return which is becoming effective from the date of inclusion of this resolution in the National register of legal acts of the Republic of Belarus.

6. Explanations in the order of application of regulations of this resolution can be made signed by the vice chairman of the board of the National Bank of the Republic of Belarus directing activities of head department of regulation of banking activities.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of December 30, 2003 No. 226

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

Chapter 1. General provisions

1. The instruction about procedure for provision (placement) of money by banks in the form of the credit and their return (further - the Instruction) determines procedure and conditions of provision (placement) by banks and non-bank credit and financial organizations (further - banks), except National Bank of the Republic of Belarus (further - National Bank), money in Belarusian rubles and foreign currency in the form of the credit to legal entities and physical persons and their return.

2. For the purposes of this Instruction following terms have the following values:

the credit - the raised and (or) own money provided by bank to other person (borrower) in the amount of and on the conditions provided by the credit agreement;

crediting - provision (placement) by bank (loan provider) of the credit on its own behalf and at own expense on the terms of recoverability, the paid nature and urgency with the conclusion between the loan provider and the borrower (the legal entity, including bank, or physical person, including the individual entrepreneur) of the credit agreement in writing, including by means of use of systems of remote bank servicing;

overdraft crediting - loan granting on the amount exceeding balance in cash on the current (settlement) bank account or correspondent account of the borrower, via bank transfer or by transfer of money by bank in payment of the settlement documents submitted by the borrower or by use of money according to instructions of the borrower by means of use of payment instruments (debit bank payment card, other tools) or by issue to the borrower of cash;

the overdraft - the debit balance according to the current (settlement) bank account or correspondent account of the borrower arising during banking day as a result of overdraft crediting;

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