RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 30, 2010 No. 52/3

About approval of the Provision "About the Periodic Regulating Consolidated Statements"

According to article 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve Regulations on the periodic regulating consolidated statements it (is applied).

2. This resolution becomes effective on December 30, 2010 after official publication.

3. To provide to the head companies of banking groups to National Bank of the Kyrgyz Republic till January 12, 2011 the quarter reporting for the IV quarter 2010 and till February 15, 2011 - the annual periodic regulating consolidated statements for 2010, the Regulations on the periodic regulating consolidated statements constituted according to requirements.

4. After official publication to send to Legal department this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

5. To management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks and microfinance companies.

6. To impose control of execution of this resolution on the board member of National Bank of the Kyrgyz Republic Alybayeva S. K.

 

Approved by the resolution of Board of National Bank of the Kyrgyz Republic of June 30, 2010 No. 52/3

Regulations on the periodic regulating consolidated statements

Chapter 1 General provisions

1. This Provision determines forms, procedure for creation and submission of the periodic regulating consolidated statements (further - PRKO) in National Bank of the Kyrgyz Republic (further - National Bank).

3. PRKO represents the activity reporting of banking group constituted in the established form for certain period for the purpose of carrying out the analysis and assessment:

a) financial condition of banking group;

b) risks of banking group;

c) extents of participation of separate banks in banking group.

4. PRKO is constituted and it is represented to one of the following legal entities:

1) the bank which is in the head of banking group and having the license of National Bank;

2) bank holding company - resident of the Kyrgyz Republic;

3) the authorized legal entity (who is engaged in banking and/or financial activities), in coordination with National Bank.

This Provision also extends to National bank of development of the Kyrgyz Republic if it is member of banking group.

Within this provision the legal entities stated above in the text hereinafter are referred to as further as the head company.

5. PRKO is constituted on the basis of accounting data and stand-alone accounting of the head company and members of banking group. The head company shall develop rules and procedures for creation of PRKO.

Chapter 2 Procedure for creation and content of PRKO

6. PRKO is represented the head company in National Bank on quarterly and annual basis.

7. For the purpose of creation of PRKO members of banking group shall represent to the head company the reporting on the activities and the data necessary for creation of the PRKO forms, to the terms established by the head company.

8. The consolidated statements of banking group is constituted on the basis of the reporting and information on activities of participants on the same reporting date.

On the basis of the reporting and information on activities of members of banking group the head company calculates values of the economic standard rates and requirements obligatory for accomplishment by banking group. Calculation of economic standard rates of banking group is perfromed according to the procedure, established by the Provision "About the Consolidated Supervision".

9. In case of creation of the Section 1 "Regulating Report on Financial Condition of Banking Group" and the Section 2 "Profit and loss statement" PRKO (appendix 2) assets, obligations, the capital, the income and expenses of the head company and members of banking group are item by item summed up. At the same time to statement items of the head company completely relevant articles of each member of banking group in whose capital the share of ownership of the head company constitutes more than 50 and more percent increase. If the share of ownership of the head company in the capital of the member of banking group constitutes more 10, but no more than 50 percent, then financial data of such participant join item by item in the amount of, in direct ratio to share of the head company in the capital of the participant.

PRKO do not join data of the member of banking group if the size of balance sheet total of this participant constitutes less than 5 percent from the size of balance sheet total of the head company.

10. If the head company or the member of banking group listed in the accounting period money, and these means in the accounting period were not received by other member of banking group, these means should be considered received in the accounting period.

11. Within filling of the Section 8 "Information on Activities of Members of Banking Group" (appendix 2) share of the head company in the capital of each participant is determined as the amount of the following sizes:

a) specific weight of shares (shares) of the participant which are in property of the head company;

b) the specific weight of shares (shares) of other participants of group in the capital of the participant increased by specific weight of shares (shares) of the head company in the capital of these participants.

The list and information on activities of members of banking group (the name of the participant, its actual location and the place of organization), with indication of specific weight of assets and the income of each participant in assets and the income of banking group is also provided in this Section PRKO.

12. The head company represents to National Bank of the data on structure of banking group in form according to appendix 3 to this Provision. The structure of banking group shall reflect communications between the head company and members of banking group and their affiliates, and also connections of members of banking group among themselves with obligatory specifying of accessory to this or that country (the resident/nonresident of the KR).

In the presence of possibility of rendering by other person of significant effect on the decisions made by governing bodies of the member of banking group, the head company shall notify National Bank on this fact and reflect such influence in the scheme dashed line.

In case of change of the data specified in earlier provided information, the changed list of persons capable to exert impact on the decisions made by governing bodies of members of banking group and persons affiliated with them it is represented in form according to appendix 3 to this Provision in time, no later than 30 days from the moment of change of the corresponding data.

13. Structure of the reporting in summary type and the summary of reports are given in appendix 1 to this Provision.

14. PRKO consists of 8 Sections.

Chapter 3 Frequency and procedure for representation of PRKO

15. In the head company the employee who is responsible for completeness of content, terms of representation and correctness of filling of PRKO shall be appointed. Responsibility for interaction with National Bank on all questions concerning information containing in PRKO is also conferred on this employee.

16. PRKO is represented in National Bank in form according to appendices 2 and 3 to this Provision in the terms established for each report, on papers of information and on system of electronic communication (electronic media of information).

17. Quarter PRKO is represented in National Bank within 12 calendar days from the date of the end of the accounting period, annual PRKONE is later than February 15 of the following after accounting year.

18. The National Bank has the right to request if necessary in addition to PRKO the quarterly and annual reporting of members of banking group which shall be certified by the signature of the Chairman of Executive body of the head company regarding confirmation of identity to information provided in individual forms of the reporting of members of banking group, and information included by the head company in the PRKO forms.

19. Reports on papers are submitted in sealed envelopes in General department of National Bank at the scheduled time.

20. Electronic versions of PRKO are transferred To the control financial statistics and the overview of National Bank.

21. In case of any discrepancies, mistakes, incomplete provision or incorrect filling of the PRKO forms, the relevant structural division of National Bank sends the head company the letter on need of adjustment of the report and its submission to National Bank with corresponding change of forms of the reporting to the following terms:

- for the quarterly report - within 10 working days;

- for the annual statement - within 30 working days.

22. In case of absence from National Bank of notes on PRKO, or after adjustment of the report on notes of National Bank and confirmation by the letter of the head company, PRKO it is deemed accepted by National Bank.

23. Information for the days off and holidays announced and recommended for National Bank and commercial banks by the Government of the Kyrgyz Republic workers irrespective of, the head company during this period worked shall join and be provided in PRKO during fixed terms or not. At the same time the reports containing information in foreign currency in somovy equivalent shall be constituted with use of the official rate of National Bank for date of creation of the report.

24. PRKO shall be provided in the established form: it is strung together, numbered with indication of the number of pages of Sections PRKO, is under seal and signed the employee of the head company responsible for creation and representation of PRKO.

25. PRKO shall contain reliable information about condition of activities of banking group on reporting date. Correctness of reflection of condition of banking group makes sure of quarterly and annual PRKO the Chairman of Supervisory body of the head company or the member of Supervisory body replacing the Chairman in its absence and also the Chairman of Executive body of the head company, the Chief accountant of the head company and the member of Executive body of the head company supervising work on preparation of the report.

Chapter 4 Final provisions

26. For untimely and/or doubtful submission of information, and also incorrect filling of PRKO, the head company bears responsibility according to the legislation of the Kyrgyz Republic.

Appendix No. 1

Structure of the periodic regulating consolidated statements

N	Section	Name	Frequency	Note or reference to the NPA	Terms
1		Title page	Quarterly and once a year	Appendix (it is applied only to the first 8 Sections)	Quarter PRKO - within 12 calendar days from the date of the end of the accounting period. Annual PRKO - no later than February 15 of the following after accounting year
2		Information about members of Supervisory and Executive bodies of the head company	Once a year and in case of changes
3		Information on certain officials of the head company	Once a year and in case of changes
4		Basic information about the head company	Once a year and in case of changes
5	Section 1	Regulating report on financial condition of banking group	Quarterly and annually	Appendix 2
6	Section 2	Profit and loss statement	Quarterly and annually
7	Section 3	Data on the largest credit risks	Quarterly and annually
8	Section 4	Information about affiliates	Quarterly and annually
9	Section 5	Data on the faces tied with bank	Quarterly and annually
10	Section 6	Data on observance of economic standard rates	Quarterly and annually	Appendix 2. Calculation of economic standard rates and adequacy of the capital of banking group is performed according to Regulations on the consolidated supervision
11	Section 7	Calculation of adequacy of the capital of banking group	Quarterly and annually
12	Section 8	Information on activities of members of banking group	Quarterly and annually	Appendix 2
13		Data on structure of banking group according to sample	Quarterly, annually and in case of changes	Appendix 3

 

 

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