THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of March 27, 2009 No. 68

About approval of Rules of implementation of transactions on simultaneous transfer of assets and obligations of bank in part or the complete size before physical and (or) legal entities to another (another) to bank (banks)

For the purpose of implementation of article 61-2 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations DECIDES: (daleeagentstvo)

1. Approve the enclosed Rules of implementation of transactions on simultaneous transfer of assets and obligations of bank in part or the complete size before physical and (or) legal entities to another (another) to bank (banks).

2. This resolution becomes effective after ten calendar days after day of its first official publication.

3. To department of supervision of banks (Bubeev M. S.):

1) together with Legal department (Sarsenov N. V.) to take measures to state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) in ten-day time from the date of state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan to bring it to the attention of the interested divisions of the Agency, Consolidation of legal entities "The association of financiers of Kazakhstan".

4. To service of the Chairman of the Agency (Kenzhe A. A.) take measures for publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Kozhakhmetov K. B.

Approved by the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of March 27, 2009 No. 68

Rules of implementation of transactions on simultaneous transfer of assets and obligations of bank in part or the complete size before physical and (or) legal entities to another (another) to bank (banks)

These rules are developed according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law), the Law of the Republic of Kazakhstan of July 4, 2003 "About state regulation and supervision of the financial market and the financial organizations", and determine procedure of transactions by simultaneous transfer of assets and obligations of bank in part or the complete size before physical and (or) legal entities to another (another) to bank (banks).

Chapter 1. General provisions

1. Transactions on simultaneous transfer of assets and obligations of bank in part or the complete size before physical and (or) legal entities to another (another) to bank (banks) (further - transaction) are performed for the purpose of protection of interests of the rights of creditors and depositors of bank.

2. The basic concepts used in these rules:

1) bank acquirer - other bank with which the agreement on simultaneous transfer of assets and obligations of bank in part or the complete size on deposits of physical and (or) legal entities to another (another) to bank (banks) is signed;

2) authorized body - the state body exercising regulation and supervision of the financial market and the financial organizations;

3) obligations of bank in part or the complete size before physical and (or) legal entities - obligations of bank on deposits of physical and (or) legal entities.

3. The bank performing transaction and bank (-and) - the acquirer (-and) provide maintaining confidentiality, nondisclosure of information obtained in connection with consideration of the forthcoming acceptance of assets and liabilities of bank in part or the complete size on deposits of physical and (or) legal entities to bank(s) - to the acquirer(s).

4. Transfer of assets and obligations of bank on deposits of physical and (or) legal entities to both one, and several banks is allowed.

Chapter 2. Procedure of transactions

5. The bank performs transaction according to the decision of governing body of bank in coordination with authorized body.

Assets and liabilities of bank on deposits of physical and (or) legal entities are transferred in part or the complete size to bank(s) to the acquirer(s) based on the contracts signed with bank.

6. Preparatory activities on implementation of transactions are held by bank before decision making about transfer by its governing body.

Preparatory activities of bank on implementation of transactions include:

1) determination of type and cost of the transferred assets of bank, if necessary, their independent assessment.

The cost of the transferred rights of requirements for receivables is determined as outstanding amount, registered on balance and off-balance sheet accounts. When implementing transaction the specified cost is calculated on approved between bank and bank(s) - the acquirer(s) date of assignment of rights of requirements for receivables;

2) forming of the list of depositors of bank;

3) calculation of prudential standard rates of bank and bank(s) - the acquirer (-leu) for the date of transfer of assets and obligations of bank approved between them, taking into account the forthcoming implementation of transaction.

7. The choice of bank(s) - the acquirer(s) is performed by bank independently, proceeding from the sizes of the transferred assets and liabilities, taking into account the following requirements, in particular, bank (-and) the acquirer (-whether):

1) is (-yutsyatsya) participant(s) of system of obligatory guaranteeing deposits;

2) has (-yut) the license of authorized body for acceptance of deposits, opening and maintaining bank accounts of physical persons, acceptance of deposits, opening and maintaining business bank accounts, carrying out banking loan activities, cash transactions;

3) has (-yut) no the operating limited corrective actions and sanctions applied by authorized body;

4) has (-yut) branches for customer service of bank.

8. The bank within a month from acceptance date its governing body of the decision on implementation of transaction represents to authorized body the following document package for review it implementation:

1) the joint statement of bank and bank(s) - the acquirer (-leu), signed by the chairmen of the board or persons replacing them;

2) decision of governing body of bank on transaction implementation;

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