of August 27, 2013 No. 236
About approval of the List of prudential standard rates, their normative values and techniques of calculations for the Voluntary accumulation pension funds
According to the laws of the Republic of Kazakhstan of June 21, 2013 "About provision of pensions in the Republic of Kazakhstan" and of March 19, 2010 "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES:
Chairman of National Bank
Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 27, 2013, No. 236
This List of prudential standard rates, their normative values and technique of calculations (further - the List) are developed for the Voluntary accumulation pension funds according to Item 7 of article 41 of the Law of the Republic of Kazakhstan "About provision of pensions in the Republic of Kazakhstan" (further - the Law on provision of pensions) and establish prudential standard rates, their normative values, technique of calculations for the Voluntary accumulation pension funds (further - Fund) which are attracting voluntary pension contributions and not exercising control of pension assets of the single accumulation pension fund.
The regulations provided by the List regarding affiliates of Fund are not applied to the legal entities and their affiliates who are affiliated with Fund as a result of direct (on banks - indirect) ownerships of 25 (twenty five) and more percent of voting shares of the specified organizations by joint-stock company "National welfare fund "Samruk-Kazyna".
Are part of prudential standard rates:
sufficiency of equity;
1. For the purposes of the List in addition to rating estimates of the Standard & Poor agency "s (Standard and Purs) authorized body on regulation, control and supervision of the financial market and the financial organizations (further - authorized body) are also recognized rating estimates of the Moody agencies" s Investors Service and Fitch (Mudis Investors Service and Features) (further - other rating agencies) established by the 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, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, the list of the rating agencies assigning this score" registered in the Register of state registration of regulatory legal acts at No. 8318.
2. For the purposes of the List international financial institutions are understood as the following organizations:
Asian Development Bank (Asian Development Bank);
Inter-American Development Bank (Inter-American Development Bank);
African development bank (African Development Bank);
Eurasian Development Bank;
European Bank for Reconstruction and Development (European Bank for Reconstruction and Development);
European Investment Bank (European Investment Bank);
Development bank of the European Council (Council of Europe Development Bank);
Islamic corporation on private sector development (the Islamic Corporation for the Development of the Private Sector);
Islamic development bank (Islamic Development Bank);
Multilateral agency of guarantee of investments (Multilateral Investment Guarantee Agency);
Scandinavian investment bank (Nordic Investment Bank);
International Monetary Fund (International Monetary Fund);
International Development Association (International Development Association);
International settlements bank (Bank for International Settlements);
International Centre for Settlement of Investment Disputes (International Centre for Settlement of Investment Disputes);
International Bank for Reconstruction and Development (International Bank for Reconstruction and Development);
International Finance Corporation (International Finance Corporation).
2-1. For the purposes of the List the main stock indexes are understood as the following settlement indicators (indexes):
CAC 40 (Compagnie des Agents de Change 40 Index);
DAX (Deutscher Aktienindex);
DJIA (Dow Jones Industrial Average);
EURO STOXX 50 (EURO STOXX 50 Price Index);
FTSE 100 (Financial Times Stock Exchange 100 Index);
HSI (Hang Seng Index);
KASE (Kazakhstan Stock Exchange Index);
MSCI World Index (Morgan Stanley Capital International World Index);
MOEX Russia (Moscow Exchange Russia Index);
NIKKEI 225 (Nikkei-225 Stock Average Index);
RTSI (Russian Trade System Index);
S&P 500 (Standard and Poor "s 500 Index);
TOPIX 100 (Tokyo Stock Price 100 Index);
NASDAQ-100 (Nasdaq-100 Index).
3. For calculation of prudential standard rates of Fund the current value of financial instruments according to accounting data determined according to the Rules of implementation of accounting and assessment of pension assets approved by the resolution of Board of National Bank of the Republic of Kazakhstan of February 26, 2014 No. 24, registered in the Register of state registration of regulatory legal acts at No. 9274 is used.
4. Coefficient of sufficiency of equity of Fund (To 1) it is calculated by formula:
K1 = (LA - About) / IDGC, where:
LA - the quick and other assets of Fund specified in Items 5 and 7 of the List;
About - obligations on balance;
IDGC - the minimum size of equity of Fund in the amount of 259 200 000 (two hundred fifty nine million two hundred thousand) tenges.
If the cost of the pension assets accepted in investment management constitutes more than 40 (forty) billion tenges, then the minimum size of equity of Fund is calculated by formula:
IDGC = (APU - 40 (forty) billion tenges) * 0,0001 + 259 200 000 (two hundred fifty nine million two hundred thousand) tenges, where:
APU - the pension assets accepted in investment management.
Value of coefficient of sufficiency of equity of Fund is daily constituted by at least 1 (one).
Fund each working day as of the end of the prior working day, and also for the end of each of the days off which were directly preceding the present working day makes calculation of value of coefficient of K1.
5. As quick assets of Fund the assets specified in the Table of calculation of values of prudential standard rates of the Voluntary accumulation pension fund according to appendix 1 to the List are recognized the corresponding amounts.
6. Do not join in calculation of the quick assets specified in Item 5 of the List:
assets on which the property right of Fund is limited (security purchase by Fund on the terms of the obligation of their subsequent return sale or transfer to pledge, or securities having other encumbrances according to the legislation of the Republic of Kazakhstan), except for transactions of repo.
The government securities (including emitted according to the legislation of other states) issued by the Ministry of Finance of the Republic of Kazakhstan and National Bank of the Republic of Kazakhstan, which are subject of transaction of "the return repo" join in calculation of quick assets of Fund in the amounts specified in the Table of calculation of values of prudential standard rates of the Voluntary accumulation pension fund according to appendix to the List.
The securities which are the transaction subject of "the return repo" concluded with participation of the central partner join in calculation of quick assets of Fund in full;
the securities issued by the legal entities who are affiliates in relation to Fund, except for the shares entering the official listing of stock exchange which parameters are used for the purpose of calculation of index of the stock market of stock exchange (the representative list of stock exchange);
the securities issued by trustees in ten and more percent of the voting shares of Fund belonging to large shareholders of Fund and affiliates of these trustees;
deposits in the banks of the second level of the Republic of Kazakhstan which are affiliates in relation to Fund.
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