RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 8, 2017 No. 2017-P-12/23-3-(NPA)

About the minimum size authorized and own (regulating) capitals of commercial banks

For the purpose of strengthening of stability, safety and reliability of bank system, being guided by articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", article 3 of the Law of the Kyrgyz Republic "About enforcement of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", the Board of National Bank of the Kyrgyz Republic decides:

1. Establish the minimum size of the authorized capital for again created commercial banks (including the requirement to the capital of branches of foreign banks) in the amount of at least 600 million som.

2. Establish for the operating commercial banks (including branches of foreign banks) the minimum size of the authorized capital and the following terms of its forming:

till July 1, 2016 - 400 million som;

till July 1, 2017 - 500 million som;

till July 1, 2018 - 600 million som.

3. Establish the economic standard rate by the minimum size of own (regulating) capital for again created and operating commercial banks (including branches of foreign banks) in the amount of at least minimum size of the authorized capital established for the operating commercial banks.

4. Recognize invalid the following resolutions of Board of National Bank of the Kyrgyz Republic:

- "About the minimum size of the authorized capital of commercial banks" of March 11, 2015 No. 16/1;

- "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 24, 2015 No. 35/5.

5. This resolution becomes effective since June 22, 2017.

6. 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.

7. To management of methodology of supervision and licensing of National Bank of the Kyrgyz Republic to bring this resolution to the attention of structural divisions, regional managements and representative office of National Bank of the Kyrgyz Republic in Batken Province, the commercial banks, branch of foreign bank and non-bank financial credit institutions attracting deposits.

8. To impose control of execution of this resolution on the board member of National Bank of the Kyrgyz Republic T.Dzh. Dzhusupova.

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