RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 7, 2015 No. 75/1

About the sizes of required reserves of commercial banks

According to Articles 7, 22 and 43 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" and the Provision "About Required Reserves" approved by the resolution of Board of National Bank of the Kyrgyz Republic of March 19, 2010 the No. 8/2, Board of National Bank of the Kyrgyz Republic decide:

1. Establish the following sizes of required reserves according to the obligations entering calculation base of required reserves:

- according to obligations in national currency - at the level 4, percent of the amount of the obligations in national currency entering calculation base;

- according to obligations in foreign currency - at the level 12, percent of the amount of the obligations in foreign currency entering calculation base.

2. To calculate the size of required reserves as the amount of required reserves according to obligations in national currency and required reserves according to obligations in foreign currency.

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. This resolution becomes effective since December 14, 2015.

5. Declare invalid the resolution of Board of National Bank of the Kyrgyz Republic "About the sizes of required reserves of commercial banks" of October 5, 2015 No. 60/1.

6. To economic management together with Management of financial statistics and overview to bring this resolution to the attention of commercial banks.

7. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic N. Zhenish.

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