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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 24, 2012 No. 385

About establishment of the minimum rating for legal entities and the countries which need of availability is required according to the legislation of the Republic of Kazakhstan regulating activities of the financial organizations, the list of the rating agencies assigning this score

(The last edition from 31-05-2019)

For the purpose of realization of Items 3 and 13 of Article 8, of subitems 4) and 6) of Item 2 of Article 8-1, of Item 14 of Article 11-1, of Item 5 of Article 17, of Items 1 and 6-1 of Article 17-1, of Item 1 of Article 18, of Item 15 of Article 20, of Items 12 and 13 of Article 30, of Item 12 of Article 40, of Item 5 of Article 44, of Item 7 of Article 45, of Item 3 of Article 52-12 and Item 7 of article 60 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), Item 6 of Article 15-1, of item 4 of Article 21, of Item 1 of Article 26, of Item 14 of Article 32, of Item 15 of Article 34, of Item 6 of Article 44, of Items 3, of the 9 and 10 Article 48, of Item 9 of article 62 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity", Item 2 of Article 47, of Item 1 of article 72-1 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Establish the minimum long-term credit rating on the international scale in foreign currency not below VVV of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution for the following legal entities - nonresidents of the Republic of Kazakhstan:

the legal entities acquiring (having) the status of bank or insurance holding;

the legal entities acquiring (having) status of the large member of bank, insurance (reinsurance) organization, the managing director of investment portfolio with the right of attraction of voluntary pension contributions;

the banks creating (having) subsidiary banks in the Republic of Kazakhstan;

the insurance (reinsurance) organizations having the affiliated insurance (reinsurance) organizations in the Republic of Kazakhstan.

Establish the minimum long-term credit rating on the international scale in foreign currency not below "In -" Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution for the following legal entities - nonresidents of the Republic of Kazakhstan:

acquiring (having) status of the large member of the managing director of investment portfolio without right of attraction voluntary pension contributions;

having the affiliated organizations performing professional activity in the security market.

For the purposes of the subitem 4) of Item 2 of article 8-1 of the Law on banks to establish the following minimum long-term sovereign rating:

in foreign currency of foreign state - not below the minimum long-term rating on the international scale in foreign currency of VVV of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution.

For the purposes of the subitem 6) of Item 2 of article 8-1 of the Law on banks to establish the following minimum individual credit rating on the international scale:

in foreign currency of the organization - not below the minimum long-term rating on the international scale in foreign currency of VVV of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution.

1-1. Establish for the purposes of subitems 1) and 2) of Item 12 of article 30 of the Law on banks the minimum long-term sovereign rating in foreign currency not below "VVV-" (on classification of Standard & Poor rating agencies "s and (or) Fitch) or Vaaz (on classification of Moody rating agency" is not lower than s Investors Service).

1-2. The bank of the second level which does not have the large participant - physical person, for accomplishment of the requirement of Item 13 of article 30 of the Law on banks, has the parent bank or bank holding having the minimum long-term credit rating on the international scale in foreign currency:

1) for legal entities - residents of the Republic of Kazakhstan - not below "In -" Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution;

2) for legal entities - nonresidents of the Republic of Kazakhstan - established by Items 1 and 2 of this resolution.

2. Requirements of part one of Item 1 of this resolution do not extend on:

1) legal entities - the nonresidents of the Republic of Kazakhstan corresponding to all following conditions:

availability at the legal entity of the minimum long-term credit rating on the international scale in foreign currency not below "VV-" of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution;

is resident of the foreign state having the minimum sovereign rating in foreign currency not below "VV-" of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution;

the agreement between authorized body on regulation, control and supervision of the financial market and the financial organizations and authorized body on regulation of activities of the banks managing investment portfolio, the insurance (reinsurance) organizations of foreign state which resident is the legal entity providing exchange of information is signed;

2) bank holdings - the nonresidents of the Republic of Kazakhstan who received the corresponding status till January 1, 2013 and corresponding for the specified date to all following conditions:

availability at bank holding of long-term credit rating on national scale in foreign currency not below AAA of Japan Credit Rating Agency (JCR) rating agency or rating agency, being the affiliirovanny person JCR;

is resident of the foreign state having sovereign rating in foreign currency below "VV-" of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution;

the agreement between authorized body on regulation, control and supervision of the financial market and the financial organizations of the Republic of Kazakhstan and authorized body on regulation of activities of banks of foreign state which resident is the bank holding, providing exchange of information is signed.

2-1. For the purposes of Item 3 of article 52-12 of the Law on banks score is assigned to one of the rating agencies specified in Item 3 of this resolution.

3. Establish the following list of rating agencies:

Standard & Poors;

Moody "s Investors Service;

Fitch.

4. The comparative table of correspondences of ratings of the rating agencies specified in Item 3 of this resolution is established by appendix 1 to this resolution.

5. Recognize invalid regulatory legal acts of the Republic of Kazakhstan according to appendix 2 to this resolution.

6. This resolution becomes effective since February 4, 2012 and is subject to official publication.

Chairman of National Bank

G. Marchenko

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 385

Comparative league table No. Standard & Poors Moody "s Investors Service Fitch

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