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The document ceased to be valid since  November 14, 2016 according to Item 2 of the Resolution of Board of National Bank of the Republic of Kazakhstan of August 31, 2016 No. 211

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2015 No. 262

About approval of Rules of functioning of system of interbank clearing

According to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" for the purpose of enhancement of procedure for functioning of system of interbank clearing the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of functioning of system of interbank clearing.

2. Recognize invalid resolutions of Board of National Bank of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. And managements of payment systems (Musayev R. N.) in the procedure established by the legislation to provide to development department:

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

2) the direction of this resolution on official publication in information system of law of Ad_let of 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" within ten calendar days after its 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.

4. 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.

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

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

Chairman of National Bank

D. Akishev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 31, 2015 No. 262

Rules of functioning of system of interbank clearing

1. General provisions

1. These rules of functioning of system of interbank clearing (further – Rules) are developed according to 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 June 29, 1998 "About payments and money transfers" (further - the Law on payments) and establish procedure for functioning of system of interbank clearing (further – system) which operator is the Republican state company on the right of economic maintaining "The Kazakhstan center of interbank calculations of National Bank of the Republic of Kazakhstan" (further – the Center).

2. The system is the payment system intended for implementation of payments and money transfers between her participants (users) by multilateral clearing of instructions of users.

Money transfer by results of clearing in system is made with use of money of its users in interbank money transfer system (further – interbank system).

3. In Rules the concepts provided by the Law on payments, the Law of the Republic of Kazakhstan of January 7, 2003 "About the electronic document and the digital signature" and the following concepts are used:

1) auditor trace – consecutive registration of events on processing of electronic messages in system, information on which is saved by the Center and users of system;

2) authentication – package of measures for confirmation of authenticity of users of system in case of exchange of payment and information messages;

3) system software and hardware complex – the technical, program or other means which are ensuring system operation, including information system, servers and terminals of system, means of communication (data transmission);

4) priority code - the code determining priority of processing of payment messages in system. The code of priority is assigned for the payment message by the user sender;

5) debit transfer – money transfer in case of which the user initiator is user beneficiary;

6) the debit payment message - the payment message initiating the debit translation, containing the requirement to the user sender of money about payment of certain amount of money;

7) systemic risk – the risk of default on obligations of one or several users of one or several money transfers caused by default on obligations of one or several users;

8) operational day of system (further - operational day) – period of time during which the system is open for acceptance, processing and transfer of payment messages and implementation of money transfers on them;

9) the user of system (further – the user) – the legal entity who signed the contract with the Center on rendering services in system;

10) credit transfer - money transfer in case of which the user initiator is user sender of money;

11) credit risk – the risk connected with possibility of untimely accomplishment (failure to carry out) by the partner of the obligations in full;

12) operational risk – the risk connected with shortcomings of information systems or internal processes, human mistakes, failures or violations of management of system including owing to external events;

13) liquidity risk – the risk of the user sender of money connected with possibility of untimely accomplishment (failure to carry out) of the obligations on money transfer in full;

14) debit queue of the user - consecutive number of the unexecuted payment messages which are in system for certain date according to monetary commitments of this user in relation to other users;

15) credit queue of the user - consecutive number of the unexecuted payment messages which are in system for certain date according to monetary commitments of other users in relation to this user;

16) the user sender of money – the user from whose line item are transferred money (is written off);

17) the user initiator – the user who sent the payment message to system. The user initiator is user sender of money or the user beneficiary;

18) the user beneficiary – the user to whose line item money is transferred;

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