RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 31, 2016 No. 209

About approval of Rules of establishment of correspondence relations between National Bank of the Republic of Kazakhstan and banks, branches of nonresident banks of the Republic of Kazakhstan, and also the organizations performing separate types of banking activities

According to the subitem 31) of paragraph two of part two of Item 19 of the Regulations on National Bank of the Republic of Kazakhstan approved by the Presidential decree of the Republic of Kazakhstan of December 31, 2003 No. 1271 "About approval of the Provision and structure of National Bank of the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of establishment of correspondence relations between National Bank of the Republic of Kazakhstan and banks, branches of nonresident banks of the Republic of Kazakhstan, and also the organizations performing separate types of banking activities.

2. Recognize invalid the resolution of Board of National Bank of the Republic of Kazakhstan, and also structural elements of some resolutions of Board of National Bank of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. To department of payment systems (Ashykbekov E. T.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal 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 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 management on consumer protection of financial services and external communications (Terentyev A. L.) 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.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 31, 2016 No. 209

Rules of establishment of correspondence relations between National Bank of the Republic of Kazakhstan and banks, branches of nonresident banks of the Republic of Kazakhstan, and also the organizations performing separate types of banking activities

Chapter 1. General provisions

1. These rules of establishment of correspondence relations between National Bank of the Republic of Kazakhstan and banks, branches of nonresident banks of the Republic of Kazakhstan, and also the organizations performing separate types of banking activities (further – Rules) are developed according to the subitem 31) of paragraph two of part two of Item 19 of the Regulations on National Bank of the Republic of Kazakhstan approved by the Presidential decree of the Republic of Kazakhstan of December 31, 2003 No. 1271 "About approval of the Provision and structure of National Bank of the Republic of Kazakhstan" and determine procedure for opening, maintaining and closing of correspondent accounts in national and foreign currency of banks, branches of nonresident banks of the Republic of Kazakhstan, and also the organizations performing separate types of banking activities (further – the non-bank organizations) in National Bank of the Republic of Kazakhstan (further – National Bank).

1-1. The requirements of Rules applied in relation to resident banks extend to the branches of nonresident banks of the Republic of Kazakhstan created in the territory of the Republic of Kazakhstan.

2. The procedure for establishment of correspondence relations between National Bank of the Republic of Kazakhstan and banks (the non-bank organizations) includes opening, maintaining and closing of correspondent account in National Bank.

Correspondent accounts are opened after the conclusion between National Bank and bank (the non-bank organization) of the agreement of correspondent account. Correspondent accounts are opened and conducted both in national currency, and in foreign currency. The agreement of correspondent account is the agreement of accession which conditions are accepted by bank (the non-bank organization) precisely by accession to the offered agreement in general (including to changes and (or) supplements to agreement) based on the written application submitted in any form behind the authorized signature of bank (the non-bank organization) (further - the statement).

According to the agreement of correspondent account the National Bank shall accept the money arriving for benefit of bank (the non-bank organization), to carry out their orders about transfer (issue) of the corresponding amounts of money to bank (the non-bank organization) or to the third parties, to perform receiving and delivery of cash in national currency and to render other services provided by the agreement of correspondent account.

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