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BOARD DECISION OF CENTRAL BANK OF THE AZERBAIJAN REPUBLIC

of July 10, 2012 No. 16/1

About approval "Regulations, procedure of payments and storage of required reserves"

(as amended on 30-05-2017)

The board of the Central bank of the Azerbaijan Republic according to articles 22.0.17 and 32.1 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic" decides:

1. Approve "Regulation, procedure of payments and storages of required reserves" it (is applied);

2. Charge to legal department (R. Melikov) to provide within 3 days submission of this decision to the Ministry of Justice for inclusion in the State register of legal acts of the Azerbaijan Republic;

3. "The regulation, procedure of payments and storages of required reserves" becomes effective since 01.11.2012 and, since the specified date to recognize invalid approved by Board decision of the Central bank of the Azerbaijan Republic of 10.05.2005 (the protocol No. 11) (the certificate No. 3154 of 30.05.2005) "Regulation, procedure of payments and storages of required reserves" and the changes made to these Rules by decisions of 27.05.2008 (the certificate No. 3401 of 15.06.2008) and of 14.10.2008 (the certificate No. 3412 of 23.10.2008);

4. Charge to department of monetary management (H. Abdullaev, A. Aleskerov) to provide after entering of these rules into the State register of legal acts of the Azerbaijan Republic their mailing in commercial banks and carrying out with respect thereto to the special presentation for banks.

 

Chairman

E.Rustamov

Approved by the Decision of the Central bank of the Azerbaijan Republic of July 10, 2012 No. 16/1

Regulation, procedure of payments and storages of required reserves

1. General provisions

1.1. These rules are prepared according to articles 29 and 32 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic" and determine regulation, procedure of payments and storages of required reserves for the banks performing activities in the Azerbaijan Republic and local branches of foreign banks (further - banks).

1.2. The determinations used in these rules have the following values:

1.2.1. obligatory reserves tools of monetary management which is used by the Central bank of the Azerbaijan Republic (further - the Central bank) in regulation of money supply and liquidity of bank system in the country;

1.2.2. regulation of required reserves - the percentage indicator used when calculating required reserves of bank and expressing certain part of calculation base;

1.2.3. calculation base - the deposits attracted with bank in national and foreign currency, precious metals and used when calculating required reserves;

1.2.4. the calculation period - period of time in days during which required reserves are calculated and to which the calculation base belongs;

1.2.5. storage period of reserves - period of time in days throughout which the required reserves calculated based on calculation base of the last period of calculation are stored.

1.3. The regulation of required reserves is established differentially at one level on all deposits or depending on type, term, currency or the size of calculation base of deposits.

2. Regulation and calculation of required reserves

2.1. The regulation of required reserves is established in percentage terms deposits.

2.2. The regulation of required reserves in national currency, including on all amounts of the deposit and calculation base attracted in valuable metals constitutes 0,5 (zero whole five tenth) percent, on all amounts of the deposit and calculation base attracted in foreign currency – 1 (one) percent, according to obligations to the non-resident financial sector and settlings with the international financial institutions – 0 (zero) percent.

2.3. In case of establishment of regulation of required reserves or in case of its increase banks are officially notified on it, at least, in one month prior to date of application of regulation.

2.4. The decision on liquidation or reduction of regulation of required reserves becomes effective from the date established by Board of the Central bank and banks are officially notified on it.

2.5. Required reserves are calculated based on average day balance for the period of calculation of calculation base of bank (Appendix 1).

2.6. Required reserves on foreign currency and securities are calculated on the basis of the official rate established by the Central bank the last working day of the period of calculation of the Central bank.

2.7. The period of calculation begins in the first and comes to the end in the last calendar day of every month.

2.8. By reorganization of bank according to reorganization form required reserves for the reorganized bank (banks) are recalculated based on calculation base of this bank (banks).

2.9. The bank shall submit the report on required reserves in the Central bank (Appendix 2) within 5 (five) working days following the calculation period.

2.10. Required reserves of the next storage period are determined by the report.

2.11. The deposits which are on balance of the bank branches located outside the Azerbaijan Republic do not join in calculation base.

3. Storage of required reserves

3.1. Required reserves are stored on correspondent account of bank in the Central bank.

3.2. The storage period begins for the 15th calendar day of the month following after completion of settlement period and proceeds till 14th calendar day of the next month.

3.3. The amount of average day balance of correspondent account on storage period shall not be less required reserves calculated on the basis of the calculation base covering the calculation period.

3.4. The remaining balance of correspondent accounts in non-working days during the storage period is accepted in the amount of remaining balance the previous working day.

3.5. The bank shall store required reserves on domestic currency deposits, entering calculation base and in precious metals on correspondent account in the Central bank in manats, and on foreign currency deposits on any correspondent account in the Central bank is independent in any foreign currency.

3.6. In case of reduction of calculation base during storage period to and more than 50 (fifty) percent of average day balance of calculation base for the last settlement period, required reserves expected the next storage period extend as well to this storage period.

3.7. Repeating of similar case within one calendar year is not allowed. If the average day balance of correspondent account of bank for the period of storage is less than required reserves expected settlement period for 2000 (two thousand) manat or equivalent, surplus of average day balance of correspondent account of bank during the next storage period shall be equal to this amount.

3.8. Each bank shall appoint the administrator responsible for storage of required reserves and represent to the Central bank the written information about this person (surname, name, middle name, position in bank and contact details). When changing the administrator responsible for storage of required reserves, bank shall provide within 3 (three) working days to the Central bank the above-mentioned written information about the new administrator.

Appendix No. 1

to Norma, procedure of payments and storages of required reserves


Obligations

Balance sheet accounts

1

Obligations to the nonresident financial sector

in manats

35215, 35218, 35265, 35268, 35295, 35298, 35325, 35328, 35375, 35378, 35405, 35408, 35435, 35438, 35485, 35488, 35515, 35518, 35545, 35548, 35595, 35598, 35625, 35628, 35715, 35718, 35755, 35758, 35775, 35778, 35931, 35933, 35939


in foreign currency

35225, 35228, 35240, 35243, 35275, 35278, 35305, 35308, 35335, 35338, 35350, 35353, 35385, 35388, 35415, 35418, 35445, 35448, 35460, 35463, 35495, 35498, 35525, 35528, 35555, 35558, 35570, 35573, 35605, 35608, 35635, 35638, 35725, 35728, 35740, 35743, 35765, 35768, 35785, 35788, 35941, 35943, 35949


in precious metals

35235, 35238, 35250, 35253, 35285, 35288, 35315, 35318, 35345, 35348, 35360, 35363, 35395, 35398, 35425, 35428, 35455, 35458, 35470, 35473, 35505, 35508, 35535, 35538, 35565, 35568, 35580, 35583, 35615, 35618, 35645, 35648, 35951, 35953, 35959

2

Obligations to state-financed organizations and state funds

in manats

36010, 36015, 36040, 36045, 36110, 36113, 36115, 36140, 36143, 36145, 36148, 36310, 36313, 36315, 36318, 36340, 36343, 36345, 36348, 36930, 36931, 36932, 36933


in foreign currency

36020, 36025, 36050, 36055, 36120, 36123, 36125, 36150, 36153, 36155, 36158, 36320, 36323, 36325, 36328, 36350, 36353, 36355, 36358, 36940, 36941, 36942, 36943


in precious metals

36030, 36035, 36060, 36065, 36130, 36133, 36135, 36138, 36160, 36163, 36165, 36168, 36330, 36333, 36335, 36338, 36360, 36363, 36365, 36368, 36950, 36951, 36952, 36953

3

Settlings with the international financial institutions

in manats

37042


in foreign currency

37053, 37054


in precious metals

37063, 37064

4

Obligations to the legal entities who are in property of the state

in manats

38010, 38020, 38030, 38040, 38050, 38060, 38070, 38080, 38090, 38310, 38320, 38330, 38340, 38350, 38360, 38363, 38370, 38373, 38380, 38383, 38390, 38393, 38610,38613, 38620, 38623, 38630, 38633, 38640, 38643, 38650, 38653, 38660, 38663, 38670, 38673, 38680, 38683, 38690, 38693, 38931, 38932, 38933, 38934, 38935, 38936, 38937, 38938, 38939


in foreign currency

38110, 38120, 38130, 38140, 38150, 38160, 38170, 38180, 38190, 38410, 38413, 38420, 38423, 38430, 38433, 38440, 38443, 38450, 38453, 38460, 38463, 38470, 38473, 38480, 38483, 38490, 38493, 38710, 38713, 38720, 38723, 38730, 38733, 38740, 38743, 38750, 38753, 38760, 38763, 38770, 38773, 38780, 38783, 38790, 38793, 38941, 38942, 38943, 38944, 38945, 38946, 38947, 38948, 38949


in precious metals

38210, 38220, 38230, 38240, 38250, 38260, 38270, 38280, 38290, 38510, 35813, 38520, 35823, 38530, 35833, 38540, 35843, 38550, 35853, 38560, 35863, 38570, 35873, 38580, 35883, 38590, 35893, 38810, 38813, 38820, 38823, 38830, 38833, 38840, 38843, 38850, 38853, 38860, 38863, 38870, 38873, 38880, 38883, 38890, 38893, 38951, 38952, 38953, 38954, 38955, 38956, 38957, 38958, 38959

5

Obligations to official departments of the foreign states

in manats

39010, 39040, 39070, 39100, 39103, 39130, 39133, 39160, 39163, 39190, 39220, 39250, 39930, 39931, 39939


in foreign currency

39020, 39050, 39080, 39110, 39113, 39140, 39143, 39170, 39200, 39230, 39260, 39940, 39941, 39949


in precious metals

39030, 39060, 39090, 39120, 39123, 39150, 39153, 39180, 39210, 39240, 39270, 39950, 39951, 39959

6

Obligations to the legal entities who are not in property of the state

in manats

40010, 40015, 40020, 40025, 40030, 40035, 40040, 40045, 40050, 40055, 40060, 40065, 40070, 40075, 40080, 40085, 40090, 40095, 40310, 40315, 40318, 40320, 40323, 40325, 40328, 40330, 40333, 40335, 40338, 40340, 40343, 40345, 40448, 40350, 40353, 40355, 40358, 40360, 40363, 40365, 40368, 40370, 40373, 40375, 40378, 40380, 40383, 40385, 40388, 40390, 40393, 40395, 40398, 40610, 40613, 40615, 40618, 40620, 40623, 40625, 40628, 40630, 40633, 40635, 40638, 40640, 40643, 40645, 40648, 40650, 40653, 40655, 40658, 40660, 40663, 40665, 40668, 40670, 40673, 40675, 40678, 40680, 40683, 40685, 40688, 40690, 40693, 40695, 40698, 40930, 40931, 40932, 40933, 40934, 40935, 40936, 40937, 40939


in foreign currency

40110, 40115, 40120, 40125, 40130, 40135, 40140, 40145, 40150, 40155, 40160, 40165, 40170, 40175, 40180, 40185, 40190, 40195, 40410, 40415, 40420, 40423, 40425, 40428, 40430, 40433, 40435, 40438, 40440, 40443, 40445, 40448, 40450, 40453, 40455, 40458, 40460, 40463, 40465, 40468, 40470, 40473, 40475, 40478, 40480, 40483, 40485, 40488, 40490, 40493, 40495, 40498, 40710, 40713, 40715, 40718, 40720, 40723, 40725, 40728, 40730, 40733, 40735, 40738, 40740, 40743, 40745, 40748, 40750, 40753, 40755, 40758, 40760, 40763, 40765, 40768, 40770, 40773, 40775, 40778, 40780, 40783, 40785, 40788, 40790, 40793, 40795, 40798, 40940, 40941, 40942, 40943, 40944, 40945, 40946, 40947, 40949


in precious metals

40210, 40215, 40220, 40225, 40230, 40235, 40240, 40245, 40250, 40255, 40260, 40265, 40270, 40275, 40280, 40285, 40290, 40295, 40510, 40513, 40515, 40518, 40520, 40523, 40525, 40528, 40530, 40533, 40535, 40538, 40540, 40543, 40545, 40588, 40550, 40553, 40555, 40558, 40560, 40563, 40565, 40568, 40570, 40573, 40575, 40578, 40580, 40583, 40585, 40588, 40590, 40593, 40595, 40598, 40810, 40813, 40815, 40818, 40820, 40823, 40825, 40828, 40830, 40833, 40835, 40838, 40840, 40843, 40845, 40848, 40850, 40853, 40855, 40858, 40860, 40863, 40865, 40868, 40870, 40873, 40875, 40878, 40880, 40883, 40885, 40888, 40890, 40893, 40895, 40898, 40950, 40951, 40952, 40953, 40954, 40955, 40956, 40957, 40959

7

Obligations to physical persons and individual entrepreneurs

in manats

41010, 41015, 41040, 41045, 41110, 41113, 41115, 41118, 41210, 41213, 41215, 41218, 41930, 41931, 41932, 41933


in foreign currency

41020, 41025, 41050, 41055, 41120, 41123, 41125, 41128, 41220, 41223, 41225, 41228, 41940, 41941, 41942, 41943


in precious metals

41030, 41035, 41060, 41065, 41130, 41133, 41135, 41138, 41230, 41233, 41235, 41238, 41950, 41951, 41952, 41953

8

Issued debt securities

in manats

42010, 42013, 42030, 42033, 42050, 42053, 42070, 42073, 42110, 42113


in foreign currency

42020, 42023, 42040, 42043, 42060, 42063, 42080, 42083, 42120, 42123

9

Other obligations

45011, 45012, 45079, 45270


in manats



in foreign currency

45021, 45022, 45089, 45280


in precious metals

45290

 

Appendix No. 2

to Norma, procedure of payments and storages of required reserves

Bank name: ___________________

Reporting date: ____________________

Table 1

                                                     (manat)

Obligations

Balance sheet accounts

Remaining balance according to balance sheet accounts

Result

1st day

2nd day

...

Last calendar day of month

1. Obligations to state-financed organizations and state funds

36010

0

0

0

0

0

36015

0

0

0

0

0

36040

0

0

0

0

0

36045

0

0

0

0

0

36110

0

0

0

0

0

36113

0

0

0

0

0

36115

0

0

0

0

0

36140

0

0

0

0

0

36143

0

0

0

0

0

36145

0

0

0

0

0

36148

0

0

0

0

0

36310

0

0

0

0

0

36313

0

0

0

0

0

36315

0

0

0

0

0

36318

0

0

0

0

0

36340

0

0

0

0

0

36343

0

0

0

0

0

36345

0

0

0

0

0

36348

0

0

0

0

0

36930

0

0

0

0

0

36931

0

0

0

0

0

36932

0

0

0

0

0

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