Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

The document ceased to be valid since  February 20, 2018 according to Item 1 of the Resolution of Board of National Bank of the Kyrgyz Republic of  January 31, 2018 No. 2018-P-09/4-4-(NPA)

RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of February 8, 2016 No. 6/2

About conditions of carrying out swap transactions (without delivery) with commercial banks and provision conditions to commercial banks of domestic currency loans

According to Articles 5, 28 and 43 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", Provisional regulations for procedure for carrying out the Kyrgyz Republic of swap transactions by the National Bank (without delivery) with commercial banks approved by the resolution of Board of National Bank of the Kyrgyz Republic of February 5, 2016 No. 5/3, Provisional regulations "About loan granting of the Kyrgyz Republic by National Bank to commercial banks when converting foreign currency loans in national currency", the approved resolution of Board of National Bank of the Kyrgyz Republic of February 5, 2016 No. 5/4 and for the purpose of support of commercial banks when implementing converting of foreign currency loans in national currency to the physical persons which appeared in difficult situation in connection with volatility of national currency, the Board of National Bank of the Kyrgyz Republic decides:

1. Determine the following parameters of carrying out swap transactions with commercial banks by provision of money in national currency in exchange for money in US dollars without delivery:

- transaction term - no more than 6 (six) months with possibility of further prolongation to 7 (seven) times on initial interest rate;

- interest rate for national currency - the discount rate of National Bank of the Kyrgyz Republic operating on the date of entry into force of this resolution;

- interest rate for foreign currency - 0%;

- the official rate operating in day of carrying out;

- the official rate operating in day of completion.

2. Determine the following conditions of provision to commercial banks of domestic currency loans:

- the total amount of the granted loans to commercial banks - no more than 2 847 422 854,00 (two billion eight hundred forty seven million four hundred twenty two thousand eight hundred fifty four) som;

- interest rate - the discount rate of National Bank of the Kyrgyz Republic operating on the date of entry into force of this resolution;

- loan term - no more than 6 (six) months with possibility of further prolongation to 7 (seven) times for 6 (six) months on initial interest rate;

- coverage ratio of mortgage providing - 120 (hundred twenty) percent.

3. The total amount of swap transactions (without delivery) and the credits shall be no more 3,1 (three billion hundred million) billion som.

4. Provide to the vice-chairman of National Bank of the Kyrgyz Republic N. Zhenish the right to determine amounts by commercial banks by swap transactions (without delivery) and to the credits according to the plans for converting of the credits provided by commercial banks.

5. This resolution becomes effective from the date of its official publication.

6. To management of monetary transactions 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.

Chairman

T. Abdygulov

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.