of March 28, 2013 No. 10/7
About approval of the Provision "About the Credit "Overnight" of National Bank of the Kyrgyz Republic"
According to articles 7 and 43 of the law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:
1. Approve the Provision "About the Credit "Overnight" of National Bank of the Kyrgyz Republic" it (is applied).
2. Declare invalid the Provision "About the Credit "Overnight" of National Bank of the Kyrgyz Republic" approved by the resolution of Board of National Bank of the Kyrgyz Republic of December 23, 2008 No. 49/4, registration number of the Ministry of Justice of the Kyrgyz Republic of February 3, 2009 No. 19-09 from the date of enforcement of regulations of the Provision "About the Credit "Overnight" of National Bank of the Kyrgyz Republic" according to Item 6 of this resolution.
3. Publish this Resolution on the official site of National Bank of the Kyrgyz Republic.
4. After official publication to send to Legal management this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.
5. This resolution becomes effective after 15 days from the date of official publication.
6. Determine that regulations of the Provision "About the Credit "Overnight" of National Bank of the Kyrgyz Republic", are applied from the moment of input of the Automated trade system in commercial operation.
7. To management of monetary transactions to bring this resolution to the attention of commercial banks.
8. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Abdybala tegin Page.
Chairman
Z.Asankozhoyeva
Appendix
to the Resolution of Board of National Bank of the Kyrgyz Republic of March 28, 2013 No. 10/7
1. This Regulations on the credit "overnight" of National Bank of the Kyrgyz Republic (further - the Provision) determine procedure for provision by National Bank of the Kyrgyz Republic (further - National Bank) to the commercial banks of the Kyrgyz Republic (further - Banks/banks) licensed by National Bank, the credit "overnight" through the automated trade system of National Bank (further - automatic telephone exchange).
2. The loan "overnight" is granted according to articles 6 and 17 of the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", this Provision, Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic and the General agreement about the credit "overnight" signed between National Bank and Bank. The standard form of the General agreement of the credit "overnight" is given in Appendix 1 to this Provision.
3. The loan "overnight" is granted to Bank for the purpose of maintenance of short-term bank liquidity in national currency, with repayment period the next working day after day of its issue, on fixed interest rate, under mortgage providing in the form of pledge, in any working day.
4. The loan interest rate "overnight" (rate - "overnight") is established by Committee of monetary control of National Bank (further - KDKR), proceeding from the purposes and tasks of the monetary policy pursued by National Bank, and can be changed.
5. The obligation of Bank on repayment of the loan "overnight" is provided with pledge in the form of pledge. Pledge subject in the form of pledge are government securities of the Cabinet of Ministers of the Kyrgyz Republic and note of National Bank (further - securities). Requirements to sufficiency amount (in percentage expression), to type and other parameters of mortgage providing in the form of securities are established by KDKR. The securities pledged to National Bank cannot be pledged or repawned to the third party.
6. Rules of work and time regulations of application for receipt of the credit "overnight", loan repayments "overnight" and automatic loan repayment "overnight" in automatic telephone exchange is regulated by the Provision "About Work of the Automated Trade System of National Bank of the Kyrgyz Republic" (further - Regulations on work of automatic telephone exchange).
7. The conditions and rules established by Regulations on work of automatic telephone exchange extend to this Provision.
For the purposes of this provision, except provided below, the determinations and terms established in Regulations on work of automatic telephone exchange are applied.
8. The credit "overnight" - the loan in som granted by National Bank to Bank during the operational day with repayment provision no later than the next working day on fixed interest rate, under mortgage providing in the form of pledge.
9. Authorization of the credit "overnight" - the procedure performed by the authorized person of National Bank for confirmation and further execution of the Loan application "overnight".
10. Depositary - the legal entity of the Kyrgyz Republic performing accounting and storage of securities, registration of transition and confirmation of the property right to securities.
11. Investment sub-account balance of "depot" - the sub-balance of Bank opened in Depositary for the purposes of accounting and storage of the securities belonging to Bank on the property right.
12. Reserve sub-account balance of "depot" - the sub-balance of Bank opened in Depositary, intended for reservation of securities in the course of attraction of the credits "overnight" and intra day.
13. The authorized person - the employee of structural division of National Bank who is authorized to authorize requests for attraction of the credit "overnight"
14. The loan "overnight" is granted with respect for the general principles of crediting: urgency, paid nature, recoverability and security.
15. For receipt of the credit "overnight" the Bank shall conform to the following requirements:
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