RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 18, 2012 No. 19/7

About entering of amendments into some regulatory legal acts of National Bank of the Kyrgyz Republic

For the purpose of decrease in credit risks, considering the arisen excessive debt in the sector of mikrofinasirovaniye, and also in order to avoid practice of repayment of accounts payable before one financial credit institutes at the expense of the borrowed funds issued by other finansovocreditny organizations according to articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", Articles 5, 9 Laws "About the Microfinancial Organizations in the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve amendments in the following regulatory legal acts of National Bank of the Kyrgyz Republic:

- in Regulations on classification of assets and the corresponding allocations to reserve on the covering of potential losses and losses approved by the resolution of Board of National Bank of the Kyrgyz Republic of July 21, 2004 No. 18/3, registered in the Ministry of Justice of the Kyrgyz Republic on August 23, 2004, registration number No. 95-04 (is attached);

- in Provisional regulations for the general principles of classification of assets and forming of reserves on covering of potential losses and losses by the microfinancial organizations in the Kyrgyz Republic which do not have the right to the implementation of acceptance of deposits from physical persons and legal entities approved by the resolution of Board of National Bank of the Kyrgyz Republic of October 22, 2003 No. 31/3" it (is applied);

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