RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of July 11, 2007 No. 34/3

About approval of the Provision "About the Credit Register"

Having considered the project of the Provision "About the Credit Register", being guided by Articles 3, of 7, the subitem 3 of Item 2 of Article 30, 43 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", Item 7 of article 58 of the Law of the Kyrgyz Republic "About banks and banking activity in the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About the Credit Register" it (is applied).

2. To management of banking supervision together with Legal department in accordance with the established procedure to carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic.

3. This resolution becomes effective from the moment of official publication after state registration in the Ministry of Justice of the Kyrgyz Republic.

4. To commercial banks, JSC Settlement and Savings Company, OSOO "Finance Company on Support and Development of Credit Unions in the Kyrgyz Republic" and Microfinance companies to bring the internal regulations on provision of credit information into compliance with this resolution within 3 months after its entry into force.

5. After publication of the registered regulatory legal act to Legal department to inform the Ministry of Justice of the Kyrgyz Republic on publication source (the name of the edition, its number and date).

6. Approve the Decision of Coordinating Committee on IS of 10.04.2007 about acquisition of PO "Credit register" "on a turn-key basis".

7. To working group to develop the Specification to AS "Credit register" for the subsequent entering of costs into the budget of development of Information System NBKR for 2007 in case of its adjustment.

8. Penal correction system together with UBN to submit question of adjustment of the budget for consideration of Board of NBKR.

9. Penal correction system together with the working group on creation of the Credit register to hold the relevant activities for acquisition of PO "Credit register".

10. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Bokontayev K. K.

Approved by the resolution of Board of National Bank of the Kyrgyz Republic of July 11, 2007 No. 34/3

Regulations on the credit register

This Provision is developed according to the Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" and "About banks and banking activity in the Kyrgyz Republic". The purpose of this provision is decrease in systemic credit risk in bank system of the republic, using the centralized electronic database on borrowers of the banks and other FKU licensed by NBKR for increase in efficiency and quality of implementation of banking supervision.

Action of this provision extends to all commercial banks, specialized financial credit institute JSC Finance Company of Credit Unions (further - FKKS), the Microfinance companies (IFC) licensed by National Bank of the Kyrgyz Republic and also National bank of development of the Kyrgyz Republic.

1. General provisions

1.1. The concepts used in this Provision:

the credits - the borrowed funds provided by commercial bank, National bank of development of the Kyrgyz Republic, FKKS and IFC on the basis of recoverability, the paid nature, urgency (the loan, leasing, and also the loans granted in the form of the overdraft, factoring, forfaiting (by accounting of the bill of exchange or other debt obligation), the exposed letters of credit and other types of loan);

the receiver of credit information - authorized body, on behalf of National Bank of the Kyrgyz Republic (further - NBKR), having, according to this Provision and the legislation of the Kyrgyz Republic, the right to collection, storage and use of credit information in the supervising purposes;

the supplier of credit information - all commercial banks and National bank of development of the Kyrgyz Republic performing the activities in the Kyrgyz Republic, and also FKKS and IFC (further - banks and other FKU), representing according to this Provision, credit information for forming and maintaining the credit register;

credit information - the data on the credits transferred by suppliers of information to NBKR in electronic form and certified by the digital signature;

the subject of credit information - physical person or legal entity concerning which credit information is created;

credit history - set of credit information on the subject of credit information;

the credit register - the centralized database created by National Bank of the Kyrgyz Republic, located in National Bank of the Kyrgyz Republic and containing information on borrowers of bank system and other financial credit institutes;

forming and maintaining the credit register - action or set of the actions performed by NBKR concerning the credit information obtained by it from suppliers of credit information according to this Provision on its storage, monitoring, refining and updating;

contingent and possible obligations - unpaid letters of credit, the issued or confirmed guarantees and guarantees.

2. Purposes and tasks of the credit register

2.1. Main objective of forming and maintaining the credit register is decrease in systemic credit risk in bank system of the republic, using the centralized electronic database on borrowers of the banks and other FKU licensed by NBKR for increase in efficiency and quality of implementation of banking supervision.

2.2. Participants of the relations on forming and maintaining the credit register are suppliers of credit information and the receiver of credit information.

2.3. Tasks of the credit register:

2.3.1. creation of the single database of all borrowers of banks and other FKU;

2.3.2. possibility of carrying out analysis of credit portfolio of banks and other FKU;

2.3.3. obtaining, sorting and combination of credit information on various indicators in general on banks and other FKU and by banks and FKU, possibility of generation of reports on credit part in PRBO;

2.3.4. monitoring of providing credits;

2.3.5. provisional estimate of credit portfolio of bank and other FKU to and during conducting inspection checks on places;

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