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The document ceased to be valid since January 1, 2020 according to Item 1 of the Resolution of Board of National Bank of the Republic of Kazakhstan of November 19, 2019 No. 196

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of January 28, 2016 No. 16

About approval of Rules of carrying out by National Bank of the Republic of Kazakhstan of transactions with derivative financial instruments

For the purpose of implementation of the Law of the Republic of Kazakhstan of November 24, 2015 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning the idle credits and assets of banks of the second level, rendering financial services and activities of the financial organizations and National Bank of the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of carrying out by National Bank of the Republic of Kazakhstan of transactions with derivative financial instruments.

2. To department of monetary transactions and asset managements (Moldabekova A.M.) in the procedure established by the legislation to provide:

1) together with Legal support department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution in the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan":

on official publication in information system of law of Ad_let within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

for inclusion in the State register of regulatory legal acts of the Republic of Kazakhstan, Reference control bank of regulatory legal acts of the Republic of Kazakhstan within ten calendar days from the date of its obtaining by National Bank of the Republic of Kazakhstan after state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

3. To department of the international relations and public relations (Kazybayev A. K.) provide the direction of this resolution on official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Pirmatov G. O.

5. This resolution becomes effective after ten calendar days after day of its first official publication and extends to the relations which arose since February 1, 2016.

Chairman of National Bank

D. Akishev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of January 28, 2016 No. 16

Rules of carrying out by National Bank of the Republic of Kazakhstan of transactions with derivative financial instruments

1. These rules of carrying out by National Bank of the Republic of Kazakhstan of transactions with derivative financial instruments (further - Rules) are developed according to the Civil code of the Republic of Kazakhstan (General part) of December 27, 1994 (further - the Civil code), the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" (further - the Law on National Bank), of July 2, 2003 "About the security market" (further - the Law on the security market) and determine procedure for carrying out by National Bank of the Republic of Kazakhstan (further - National Bank) transactions with derivative financial instruments for development and implementation of the measures aimed at providing stability of financial system of the Republic of Kazakhstan, carrying out the state monetary policy of the Republic of Kazakhstan (further - monetary policy), risk minimization of potential losses from change of market situation and for the purpose of increase in portfolio return of gold and exchange assets of National Bank (further - gold and exchange assets) and assets of National fund of the Republic of Kazakhstan (further - National fund).

1. Basic provisions

2. In Rules the concepts provided by the Civil code, the Law on the security market and also the following concepts are used:

1) portfolio of gold and exchange assets - the portfolio consisting of gold and foreign exchange reserves according to the Law on National Bank and other assets;

2) the transaction outright - the agreement between the parties on purchase of one currency against another with the value date other than date of the conclusion of the transaction;

3) the interbank market - set of the relations arising when carrying out transactions on purchase or/and sale of foreign currency and financial instruments in the unorganized market;

4) the stock exchange market - set of the relations with use of trade systems of the organizer of the biddings who performs organizational and technical supply of the biddings, by their direct carrying out;

5) the curb interbank market - set of the relations arising when carrying out transactions on purchase or/and sale of foreign currency and financial instruments in the curb market;

6) the curb market - set of the relations of professional participants of the security market without use of trade systems of the organizer of the biddings;

7) savings portfolio - asset portfolio of National fund which purpose is increase in profitability of assets in the long term;

8) credit default swap - the derivative financial instrument according to which the seller of credit protection in case of approach of certain credit event shall redeem from the counterpartner of the obligation in underlying asset in their nominal value and the buyer in exchange pays to the seller of credit protection award;

9) credit protection - insurance upon possible lowering of the credit rating of the issuer or possible default of the issuer;

10) credit event - change of creditworthness of the borrower or credit quality of the financial instrument;

11) credit rating - the individual numerical and alphabetic indicator of assessment establishing relative creditworthness of the issuer or quality and reliability of securities of the issuer;

12) the counterpartner - the legal entity with whom the National Bank based on the relevant agreements / agreements makes transactions / concludes bargains with derivative financial instruments;

13) middle office - division of Department of monetary transactions and asset management of National Bank, authorized to perform the analysis of the financial markets and portfolios of gold and exchange assets and National fund;

14) the call option - type of the option according to which one party (call seller) sells to other party (to the option buyer call) the right to purchase underlying asset on option exercise price call (strike) from other party (call seller) in the future;

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