RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 10, 2004 No. 186

About approval of the Instruction for making of banking activities by banks with precious metals

According to Articles 14, the Board of National Bank of the Republic of Belarus DECIDES: 26 and 33 Bank codes of the Republic of Belarus

1. Approve the enclosed Instruction for making of banking activities by banks with precious metals.

2. Declare invalid the resolution of Board of National Bank of the Republic of Belarus of July 26, 2002 No. 149 "About approval of Rules of making by banks of banking activities with precious metals" (The national register of legal acts of the Republic of Belarus, 2002, No. 97, 8/8441).

Approved by the Resolution of Board of National Bank of the Republic of Belarus of December 10, 2004 No. 186

The instruction for making of banking activities by banks with precious metals

The instruction for making of banking activities by banks with precious metals (further - the Instruction) is developed according to Articles 14, 26 and 33 Bank codes of the Republic of Belarus and establishes single procedure for making by banks of banking activities with precious metals in the internal and international markets of precious metals.

Chapter 1. General provisions

1. In relation to this Instruction terms and concepts are used in the following values:

bank ingots - the gold bars, silver, platinum and palladium corresponding to the technical regulations or state standards on gold, silver, platinum and palladium existing in the territory of the Republic of Belarus in ingots or to requirements of the London association of participants of the market of precious metals (LBMA) or the London market of platinum and palladium (LPPM) according to appendix 1 to this Instruction;

measuring ingots - the gold bars, platinum, silver conforming to standards of the state - producer of ingots;

coins - coins from precious metals (gold, silver, platinum) of old and modern chekan, different degree of safety acting as collecting objects of the cost differing from nominal except the commemorative coins which are legal means of payment of the Republic of Belarus;

cash precious metals - coins, and also bank or measuring ingots with certain individual signs;

non-cash precious metals - the precious metals placed and considered on the depersonalized, deposit or supplementary metal accounts;

values - gold, silver, platinum and metals of platinum group (palladium, iridium, rhodium, ruthenium, osmium) which are in any kind and condition, including in scrap and production wastes and consumption;

banks - the banks created according to the legislation of the Republic of Belarus, having the right to perform banking activities with precious metals within special permission (license) of National Bank of the Republic of Belarus (further - National Bank) for implementation of banking activity;

the name of precious metal - gold, silver, platinum and palladium;

type of precious metal - coin, bank or measuring ingot;

test - the advantage of alloy showing quantity of mass fractions of precious metal in one thousand mass fractions of alloy;

percentage - quantity of shares of chemically net precious metal in hundred mass units of alloyed alloy;

weight in ligature (alloyed weight) - the actual lump of alloy of precious metal taking into account all components;

weight in purity (net weight) - the mass of chemically net precious metal containing in alloyed alloy;

dealers are employees of bank, representatives on carrying out transactions with precious metals and derivative financial instruments by means of the REUTERS DEALING system or by phone;

derivative financial instruments - the financial instruments created based on precious metal which cost is determined depending on the basic price of precious metal or interest rate (futures, options and other financial instruments);

clients - physical persons and legal entities (including banks and individual entrepreneurs);

the domestic market of precious metals - the sphere of the address of precious metals created as a result of transactions with them in the territory of the Republic of Belarus between resident clients and also National Bank, banks and resident clients;

the international market of precious metals - the sphere of the address of precious metals created as a result of transactions with them between nonresident clients, and also resident clients and nonresident clients;

the terms "resident" and "nonresident" matter, determined by the Law of the Republic of Belarus of July 22, 2003 "About currency control and currency exchange control" (The national register of legal acts of the Republic of Belarus, 2003, No. 85, 2/978);

value date - date of transfer (write-off) of precious metals and Belarusian rubles (foreign currencies) into accounts (from accounts);

metal accounts the - the depersonalized, deposit, supplementary metal accounts intended for placement and accounting of gold, silver, platinum, palladium;

the depersonalized metal account - the metal account intended for accounting of gold, silver, platinum and palladium in the form of bank ingots without specifying of their individual signs;

the deposit metal account - the metal account intended for placement of precious metals in the form of the bank ingots attracted with banks at National Bank, banks, nonresident banks, legal entities, physical persons on the terms of bank deposit (deposit);

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info