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The document ceased to be valid since  April 11, 2016 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2015 No. 262

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of June 16, 2000 No. 273

About approval of Rules of implementation of interbank clearing in the Republic of Kazakhstan

(as amended on 28-05-2007)

For the purpose of enhancement of the regulatory legal base providing functioning of payment system of the Republic of Kazakhstan, the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of implementation of interbank clearing in the Republic of Kazakhstan and enact them after two weeks from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan.

2. To management of payment systems (Musayev R. N.):

1) together with Legal department (Sharipov S. B.) to take measures to state registration in the Ministry of Justice of the Republic of Kazakhstan of this resolution;

2) in two weeks from the date of state registration in the Ministry of Justice of the Republic of Kazakhstan to bring this resolution to the attention of territorial branches of National Bank of the Republic of Kazakhstan.

3. To territorial branches of National Bank of the Republic of Kazakhstan to bring this resolution to the attention of banks of the second level and the organizations performing separate types of banking activities.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Zhangeldin E. T.

 

Chairman

National Bank of G. A. Marchenko

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of June 16, 2000 No. 273

Rules of implementation of interbank clearing in the Republic of Kazakhstan

Chapter 1. General provisions

1. These rules are developed according to the Laws of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan", "About banks and banking activity in the Republic of Kazakhstan", "About payments and money transfers" and other regulatory legal acts of the Republic of Kazakhstan adopted according to them and determine procedure of interbank clearing in the territory of the Republic of Kazakhstan.

2. In these rules the concepts provided by the Law of the Republic of Kazakhstan "About payments and money transfers" and also the following concepts are used:

1) participants of interbank clearing - banks of the second level (further - bank) and the organizations performing the separate types of banking activities (further - the organization) which signed the contract with the clearing organization for participation in interbank clearing, sending and/or receiving the payment documents processed by the clearing organization in interbank clearing. The clearing organization can be the participant of interbank clearing also;

2) bilateral credit restriction - risk management method in case of which the participant of interbank clearing determines for each participant of interbank clearing maximum amount of payment documents which this participant of interbank clearing agrees to accept from other participant of interbank clearing taking into account the amount of the payment documents sent them for benefit of this participant of interbank clearing;

3) the settlement organization - the organization which is the operator of interbank money transfer system and providing its functioning. The settlement organization can perform functions of the clearing organization;

4) the clearing organization - the bank or the organization which is performing interbank clearing and having the status of the user of interbank money transfer system;

5) multilateral debit restriction - risk management method in case of which for each participant of interbank clearing restriction for the maximum debit net line item is set;

6) monitoring - tracking of the payment documents arriving during the operational day in interbank clearing from participants of interbank clearing for the purpose of determination of possibility of failure to carry out by participants of interbank clearing of the obligations;

7) reserve (insurance) fund - risk management method in case of which participants of interbank clearing reserve money according to the agreements signed between the clearing organization and participants of interbank clearing;

8) net line item - difference between the amount of payment documents according to monetary commitments of all participants of interbank clearing in relation to one participant of interbank clearing and the amount of payment documents according to monetary commitments of this participant of interbank clearing in relation to other participants of interbank clearing. If the difference - negative number, then the participant of interbank clearing has debit net line item if positive - credit net line item;

9) risk management methods - the package of measures intended for decrease in probability of non-execution by participants of interbank clearing, the clearing organization and the settlement organization of the obligations for implementation of interbank clearing and/or money transfer by results of interbank clearing;

10) separation of losses - risk management method in case of which participants of interbank clearing provide loan to those participants of interbank clearing who have no sufficient amount of money for implementation of money transfer according to their debit net line items.

Chapter 2.

It is excluded

Chapter 3. Participants of clearing

8. Banks and the organizations acquire participant status of interbank clearing after the conclusion with the clearing organization of the contract for participation in interbank clearing.

9. The clearing organization can establish requirements to financial position of participants of interbank clearing and/or the program technical means used by them when implementing interbank clearing. These requirements affirm the supreme body of management of the clearing organization and are obligatory for all participants of interbank clearing.

10. The clearing organization can be the participant of the interbank clearing performed by this clearing organization based on the decision taken of the supreme body of charge of the clearing organization if other is not established by internal regulations and/or the agreements signed with participants of interbank clearing.

11. The contract between the clearing organization and the participant of interbank clearing shall contain the following compulsory provisions:

1) methods and procedure for exchange of payment documents and other information on payments;

2) the rights and obligations of the Parties arising during the implementing of interbank clearing and/or money transfer by results of interbank clearing;

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