of March 28, 2013 No. 10/11
About approval of the Provision "About Procedure for Carrying Out the Kyrgyz Republic of Deposit Transactions by National Bank in National Currency"
According to articles 26 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 Procedure for Carrying Out the Kyrgyz Republic of Deposit Transactions by National Bank in National Currency" it (is applied).
2. Declare invalid the Provision "About Procedure for Carrying Out the Kyrgyz Republic of Deposit Transactions by National Bank" approved by the resolution of Board of National Bank of the Kyrgyz Republic of November 14, 2007 No. 48/1, registration number of the Ministry of Justice of the Kyrgyz Republic of December 10, 2007 No. 114-07 from the date of enforcement of regulations of the Provision "About Procedure for Carrying Out the Kyrgyz Republic of Deposit Transactions by National Bank in National Currency" 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 Procedure for Carrying Out the Kyrgyz Republic of Deposit Transactions by National Bank in National Currency", 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
Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of March 28, 2013 No. 10/11
1. This Regulations on procedure for carrying out deposit transactions in national currency (further - the Provision) determine procedure for carrying out the Kyrgyz Republic by National Bank (further - National Bank) deposit transactions in national currency with commercial banks of the Kyrgyz Republic (further - the Participant) through the automated trade system of National Bank (further - automatic telephone exchange).
2. The National Bank performs deposit operations in national currency (further - deposit transaction) according to the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" and the Civil code of the Kyrgyz Republic.
3. The conditions and rules established by Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic (further - Regulations on work of automatic telephone exchange) extend to this Provision.
4. Deposit operations in national currency are performed according to the decision of Committee on monetary control of National Bank (further - KDKR).
5. Deposit operations are performed for the purpose of temporary withdrawal of excess liquidity from bank system.
6. Participants of deposit transactions are the commercial banks meeting the requirements of the item 14 of this provision. Also on board decision of National Bank other member of the financial market of the republic can be allowed to deposit transaction.
7. Relations of the Participant with National Bank on deposit transactions are regulated by this Regulations and the corresponding bilateral agreement on procedure for carrying out deposit transactions in national currency between National Bank and the Participant, according to appendix 1 to this Provision (further - the Agreement).
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. Date of deposit transaction - the day announced by National Bank in parameters of deposit transaction in which there is acceptance, processing and the announcement of results of deposit transaction.
9. Completion date of deposit transaction - the day announced by National Bank in parameters of deposit transaction in which there is the actual money transfer.
10. Date of completion of deposit transaction - the day announced by National Bank in parameters of deposit transaction in which there is the return transfer of cash amount taking into account the amount of the added percent.
11. Deposit transaction is transaction on temporary withdrawal of money by National Bank in national currency on the terms of recoverability, the paid nature and urgency.
11-1. The deposit "overnight" is deposit transaction on transfer by the Participant from correspondent account of cash amount in national currency for 1 (one) night into the corresponding account of National Bank. Return of cash amount in national currency taking into account the added percent is made by National Bank on correspondent account of the Participant in National Bank in date of completion of deposit transaction.
12. The term of deposit transaction, except for the deposit "overnight" - the period calculated in calendar days since the day following behind day of execution of deposit transaction including day of completion of deposit transaction.
13. The term of charge of percent on deposit transactions - the period expressed in calendar days and calculated since the day following behind day of write-off from correspondent account of the Participant of cash amount and transfer into the corresponding account of National Bank and about one the day preceding day of return of the deposit, inclusive.
13-1. For charge of deposit interests "overnight" is taken into account 1 (one) day and made on formula of simple percent proceeding from the number of 360 days in year. In case the deposit "overnight" consists in last trade day of week and/or in holiday day, then the term of charge of percent is calculated as the period expressed in calendar days and calculated since the day following behind day of the conclusion of the deposit "overnight" and about one the day preceding day of return of the deposit "overnight", inclusive.
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