ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of December 11, 2008 No. 687

About approval of the Regulations on procedure of payments of fees in Deposit Protection Fund

According to the Law of the Kyrgyz Republic "About protection of bank deposits (deposits)" the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on procedure of payments of fees in Deposit Protection Fund.

2. This resolution becomes effective from the date of official publication.

Approved by the Order of the Government of the Kyrgyz Republic of December 11, 2008 No. 687

Regulations on procedure calculation of fees in Deposit Protection Fund

1. General provisions

1.1. This Provision is developed according to the Law of the Kyrgyz Republic "About protection of bank deposits (deposits)", the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic and other regulatory legal acts of the Kyrgyz Republic".

1.2. The purpose of this provision is establishment of procedure for determination of the size and payment of admission, compulsory calendar and extraordinary fees to Deposit Protection Fund by resident banks, all branches of the foreign banks located in the Kyrgyz Republic (further - banks), microfinance companies, the housing and savings credit companies.

1.3. In this Provision the concepts stated in conceptual framework of the Law of the Kyrgyz Republic "About protection of bank deposits (deposits)" are used.

2. Procedure of payments of fees

2.1. Banks, microfinance companies, the housing and savings credit companies shall pay to Deposit Protection Fund the following types of fees according to the procedure and the terms established by this Provision:

- admission fee;

- the paragraph third Item 2.1 ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 23.11.2016 No. 613

- calendar fee;

- extraordinary fees.

2.2. Again created banks, microfinance companies and the housing and savings credit companies, except for "transitional" bank, shall pay the admission fee to Deposit Protection Fund in the amount of one percent from the standard rate of the minimum authorized capital established for again created banks, microfinance companies performing transactions on acceptance of term deposits from physical persons and legal entities, the housing and savings credit companies, respectively. The admission fee shall be paid by bank during the period after receipt of permission of National Bank of the Kyrgyz Republic and before licensing, microfinance company - before lifting of restrictions in the license for the right of acceptance of deposits from physical persons and legal entities, and the housing and savings credit company - before receipt of the license for the right of carrying out separate banking activities. The "transitional" bank created during restructuring of bank is exempted from payment of the admission fee.

2.3. In case of increase in the authorized capital by banks, microfinance companies, housing and savings credit companies the additional membership fees are not levied.

2.4. The National Bank of the Kyrgyz Republic no later than 3 working days after adoption of the relevant decision informs Agency on protection of deposits on issue to bank of the license for implementation of banking activity, the license for the right of acceptance of deposits from physical persons and legal entities, the license for the right of carrying out separate banking activities by the housing and savings credit company.

2.5. The subsequent calendar fees of again created banks are performed according to the procedure, established by this Provision.

2.6. Ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 23.11.2016 No. 613

2.7. Fees of the operating banks, microfinance companies, the housing and savings credit companies are established at the level 0, of annual interest rate from general deposit base of bank, microfinance company, the housing and savings credit company, respectively, for achievement of the target values established by the Law of the Kyrgyz Republic "About protection of bank deposits (deposits)".

2.8. The deposit base is calculated on average daily basis for the period one year of daily balance sheet remaining balance on deposit accounts of physical persons and legal entities, individual entrepreneurs and accounts of the electronic money emitted by bank which holders are physical persons and individual entrepreneurs.

The official rate established by National Bank of the Kyrgyz Republic the last day of quarter for which payment is made is applied to calculation of foreign currency deposits.

2.9. Settlement period for payment of fees is the year which is coming to an end in quarter (settlement quarter) preceding quarter in which the fee is performed.

2.10. The calculation base for settlement period is determined by the following formula:

where:

where, R1 - the amount of balances in cash on deposit accounts on 1 number of quarter with which the settlement period begins;

R2 - the amount of balances in cash on deposit accounts on the 2nd day of quarter with which the settlement period begins;

Rn - the amount of balances in cash on deposit accounts on 1 number of the quarter following settlement period;

n - number of calendar days in settlement period (from the first of settlement period on the first day of the quarter following settlement period, inclusive).

2.11. The fee amount which is subject to payment in Deposit Protection Fund for settlement quarter is determined by the following formula:

where, S - the fee amount of Deposit Protection Fund for settlement quarter;

Rb - calculation base for settlement period;

P - rate of fees as a percentage.

2.12. Ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 05.12.2019 No. 662

2.13. Ceased to be valid according to the Order of the Government of the Kyrgyz Republic of 23.11.2016 No. 613

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