Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

The document ceased to be valid since  May 25, 2018 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of March 27, 2018 No. 62

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 24, 2012 No. 381

About approval of Rules of implementation of classification of assets and contingent obligations on the provided microcredits and creations of provisions (reserves) against them

According to the Law of the Republic of Kazakhstan of November 26, 2012 "About the microfinancial organizations" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of implementation of classification of assets, contingent obligations on the provided microcredits and creations of provisions (reserves) against them.

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

 

Chairman of National Bank

G. Marchenko

"IS APPROVED"

Ministry of Finance

Republic of Kazakhstan 

Minister Zhamishev B. B.

January 18, 2013

 

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 381

Rules of implementation of classification of assets and contingent obligations on the provided microcredits and creations of provisions (reserves) against them

These rules of implementation of classification of assets and contingent obligations on the provided microcredits and creations of provisions (reserves) against them (further - Rules) are developed according to the Code of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget", the Law of the Republic of Kazakhstan of November 26, 2012 "About the microfinancial organizations" (further - the Law) and determine procedure and conditions of implementation of classification of assets, contingent obligations by the provided microcredits and creations of provisions (reserves) against them.

1. General provisions

1. For the purposes of Rules the following concepts are used:

1) reclassification of asset and contingent obligation - classification of earlier classified asset and contingent obligation, with the corresponding doformirovaniye and (or) disbandment of provisions (reserves) against it;

2) providing cost - the cost of mortgage providing at the moment determined from market (fair) value taking into account possibility of its realization (sale);

3) the borrower - the physical person or legal entity which signed the agreement on provision of the microcredit with the microfinancial organization;

4) the microcredit - the money provided by the microfinancial organization to the borrower in national currency of the Republic of Kazakhstan in the amount of and procedure, determined by the Law, on the terms of the paid nature, urgency and recoverability;

5) provisions (reserves) - recognition of probability of losses of cost of specific asset, and in case of contingent obligation on the provided microcredit - recognition of probability of losses on possible execution by the microfinancial organization of the obligations, or sets of assets (contingent obligations on the provided microcredits);

6) authorized body - territorial branch of National Bank of the Republic of Kazakhstan in the location of the microfinancial organization.

2. Classification of assets and contingent obligations by the provided microcredits

2. Classification of assets and contingent obligations by the provided microcredits is performed by the microfinancial organization according to Rules depending on the size of the created provisions (reserves).

The size of provisions (reserves) is determined by the microfinancial organization according to accounting standards according to which the microfinancial organization performs creation of the financial reporting.

3. For the purposes of determination of the size of provisions (reserves) the microcredits are estimated on individual and collective basis.

4. Classification (reclassification) of assets and contingent obligations and forming of provisions (reserves) is performed based on the following conditions:

compliance of the actual actions for classification of assets, contingent obligations on the provided microcredits and forming of provisions (reserves) to requirements of Rules and domestic policy of the microfinancial organization;

the complex and objective analysis of all information relating to the sphere of classification of assets, contingent obligations on the provided microcredits and forming of provisions (reserves) against them;

timeliness of classification (reclassification) of assets and contingent obligations and (or) forming (regulation) of provisions (reserves), and reliability of reflection of changes of the size of provisions (reserves) in accounting and reporting.

5. For the purpose of classification assets and contingent obligations on the provided microcredits are subdivided on standard and classified.

6. The classified asset represents asset on which the requirement is not performed in accordance with the terms of the agreement or reasons to believe are had that the requirement for it will be performed not in full or will not be performed.

7. The classified contingent obligation represents the contingent obligation which is:

1) the possible obligation which arises from last events and which availability will be confirmed with approach or not approach of uncertain future events which not completely are under control of the microfinancial organization;

2) the existing obligation which arises from last events, but is not recognized as:

the amount of obligation cannot be authentically estimated;

emergence of requirement of outflow of the resources necessary for discharge of duty is not probable.

The asset and the contingent obligation on the provided microcredit which is not relating to classified is standard.

8. The classified assets and contingent obligations on the provided microcredits are subdivided into the following categories depending on the size of the created provisions (reserves):

1) doubtful:

doubtful 1 categories - less or equally in 5 (five) percent of provisions (reserves) from book value of the provided microcredit;

doubtful 2 categories - more than 5 (five) percent and less or equally in 10 (ten) percent of provisions (reserves) from book value of the provided microcredit;

doubtful 3 categories - more than 10 (ten) percent and less or equally in 20 (twenty) percent of provisions (reserves) from book value of the provided microcredit;

doubtful 4 categories - more than 20 (twenty) percent and less or equally in 25 (twenty five) percent of provisions (reserves) from book value of the provided microcredit;

doubtful 5 categories - more than 25 (twenty five) percent and less or equally in 50 (fifty) percent of provisions (reserves) from book value of the provided microcredit;

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.