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THE LETTER OF THE VICE-CHAIRMAN OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND SUPERVISION OF THE FINANCIAL MARKET AND THE FINANCIAL ORGANIZATIONS

of October 14, 2010 No. 02-02-13/1521/19833-I

The agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency), taking into account appeals of the accumulation pension funds and the organizations exercising investment control of pension assets for method of calculation of prudential standard rates for the specified financial organizations, reports the following.

1. Concerning the prudential standard rate

At the same time, the paragraph the seventh the subitem 11), the paragraph the seventh the subitem 12) of Item 15 of the Instruction No. 180, the paragraph the seventh the subitem 11), the paragraph the seventh the subitem 12) of Item 15 of the Instruction No. 181, the paragraph the seventh the subitem 11), the paragraph the seventh the subitem 12) of Item 11 of Rules No. 215, when calculating credit risk provides the requirement for excess of the size of equity over the authorized capital of the issuer of debt securities.

2. Concerning calculation of coefficient of sufficiency of equity of K1

According to changes and additions made by the Resolution of Board of the Agency of July 15, 2010 No. 110 "About entering of amendments and changes into some regulatory legal acts of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations for prudential regulation of activities of the accumulation pension funds, the organizations exercising investment control of pension assets, and the organizations combining types of professional activity in the security market" in the Instruction No. 180, the Instruction No. 181 and Rules No. 215 the formula of calculation of coefficient of sufficiency of equity K1, according to which is changed:

Формула 1 к Письму от 14.10.2010 №02-02-13-1521-19833-И

For the purpose of refining of calculation of coefficient of sufficiency of equity of K1, the accumulation pension funds, the organizations exercising investment control of pension assets, and the organizations combining types of professional deyatelnyost in the security market need to apply formula:

Формула 2 к Письму от 14.10.2010 №02-02-13-1521-19833-И

LA - the quick and other assets established by the corresponding Items of the Instruction No. 180, of the Instruction No. 181, of Rules No. 215;

About - obligations on balance;

RR1 - reserve for ensuring financial stability in case of negative variance of coefficient of nominal yield of K2 of Fund more than for thirty percent from value of the corrected weighted average coefficient of nominal yield for the previous accounting period calculated according to Chapter 4 of the Instruction No. 181;

FR2 - reserve for ensuring financial stability in case of negative variance of coefficient of nominal yield of K2 of Fund more than on fifteen, but less than for thirty percent from value of the corrected weighted average coefficient of nominal yield for the previous accounting period calculated according to Chapter 4 of the Instruction No. 181;

VPA - the cost of the financial instruments which are in investment portfolio of Fund, weighed on risk degree.

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