RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 24, 2015 No. 35/7

About modification and amendments in some resolutions of Board 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. Make changes and additions to the following resolutions of Board of National Bank of the Kyrgyz Republic (are applied):

- ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 15.06.2017 No. 2017-P-12/25-4

- "About approval of the Instruction "About procedure for observance of limits of open foreign exchange position by commercial banks in the territory of the Kyrgyz Republic" of December 29, 2004 No. 36/13.

2. This resolution becomes effective after fifteen days from the date of official publication.

3. To legal management:

- publish this resolution on the official site of National Bank of the Kyrgyz Republic;

- after official publication to send 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.

4. To management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks, specialized financial credit institute JSC Finance Company of Credit Unions and National bank of development of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the vice-chairman of National Bank Kyrgyz Republics Orozbayeva Л.Дж.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of June 24, 2015 No. 35/7

Changes and amendments in some resolutions of Board of National Bank of the Kyrgyz Republic

I. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 15.06.2017 No. 2017-P-12/25-4

II. "About approval of the Instruction "About procedure for observance of limits of open foreign exchange position by commercial banks in the territory of the Kyrgyz Republic" of December 29, 2004 No. 36/13, to make the following change to the resolution of Board of National Bank of the Kyrgyz Republic:

in the Instruction "About procedure for observance of limits of open foreign exchange position by commercial banks in the territory of the Kyrgyz Republic", approved by the above-stated resolution:

- state Item 5.1 in the following edition:

"5.1. In case of violation by bank as of the end of each operational day of the set limits of open foreign exchange position, National Bank of the Kyrgyz Republic applies sanctions in the form of collection of fine in the amount of 5% of the violation amount, but no more than 1% of the size of the paid authorized capital of bank.".

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