RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 5, 1997 No. 412

About the minimum sizes of authorized and own capitals of banks of the second level

For the purpose of ensuring financial stability of banks of the second level and protection of interests of their depositors the Board of National Bank of the Republic of Kazakhstan decides:

I. Approve the minimum size of the authorized capital for:

1) the opening banks - in the amount of 300.000 thousand tenges;

2) the operating banks, except for state, created in form of business of the state company, and interstate (being under jurisdiction of the Republic of Kazakhstan) in the amount of 100.000 thousand tenges.

II. Establish for all banks the minimum size of equity in the following limits:

1) for opening of branch - in the amount of 300.000 thousand tenges, at the same time the minimum size of equity of bank for each subsequent opened branch increases:

a) for 20.000 thousand tenges - for the branches opened in the regional centers;

b) for 10.000 thousand tenges - for the branches opened in other cities;

c) for 5.000 thousand tenges - for the branches opened in other settlements;

2) for opening of settlement and cash department - in the amount of 300.000 thousand tenges, at the same time the minimum size of equity of bank increases by 2.500 thousand tenges for each subsequent opened settlement and cash department.

III. The banks having the branches and settlement and cash departments opened till December 5, 1997 shall bring the sizes of the own capitals into accord with requirements of Item 2 of this Resolution till July 1, 1998.

IV. Due to the enforcement of this Resolution to recognize invalid:

1) Item 2 of the Minutes of the Board of Directors of National Bank of the Republic of Kazakhstan N 7 of April 21, 1994 "About the minimum sizes of authorized capitals of banks";

2) the Resolution of Board of National Bank of the Republic of Kazakhstan "About the minimum sizes of authorized capitals of banks" of October 19, 1995 N 178 with the amendments and changes approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of March 28, 1996 N 79/1.

V. To department of banking supervision (Abdulina N. K.) bring this Resolution to the attention regional (The main thing of the Almaty territorial) managements (branches) of National Bank of the Republic of Kazakhstan and banks of the second level.

VI. To impose control of execution of this Resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Saydenov A. G.

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