of June 30, 2017 No. 119
About approval of Rules of calculation, conditions of action of floating rate of remuneration
For the purpose of implementation of article 39 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", the Board of National Bank of the Republic of Kazakhstan DECIDES:
1. Approve the enclosed Rules of calculation, condition of action of floating rate of remuneration.
2. Declare invalid the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of November 28, 2008 No. 216 "About approval of Rules of calculation, conditions of action of floating rate of remuneration on agreements of bank loan" (registered in the Register of state registration of regulatory legal acts at No. 5475, published on February 18, 2009 in the Yuridicheskaya Gazeta newspaper No. 25 (1622).
3. To department of methodology of the financial market (Abdrakhmanov N. A.) 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) within ten calendar days from the date of state registration of this resolution the direction it the copy in paper and electronic type in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts 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 within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.
5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.
Chairman of National Bank
Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of June 30, 2017 No. 119
1. These rules of calculation, condition of action of floating rate of remuneration (further - Rules) are developed according to article 39 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" and determine procedure for calculation and condition of action of floating rate of remuneration on agreements of bank loan, including on the agreements of mortgage loans signed with physical persons (further - the agreement), for the banks of the second level and the organizations performing separate types of banking activities (further - bank).
2. The floating rate of remuneration is determined as the amount of basic indicator and rate of interest spread, in the nominal size estimated in percent points (further - interest spread).
3. As basic indicator are used:
under the agreements signed in tenge - the base rate established by National Bank of the Republic of Kazakhstan;
under the agreements signed in Russian rubles - the key interest rate established by the Central bank of the Russian Federation;
under the agreements signed in US dollars - the upper bound of the range of rate on federal funds established by the Federal Reserve System of the USA;
under the agreements signed in euro - the interest rate for the main transactions of refinancing established by the European Central Bank.
4. The rate of interest spread represents the fixed value established by bank in case of the conclusion of the agreement, and is not subject to change, except as specified its changes towards reduction by bank.
5. During validity the bank reviews floating rate of remuneration no more than two times a year, and not earlier than six months from the date of the last review of value of floating rate.
6. Extreme value by which the floating rate of remuneration can be increased in case of the next review is determined by agreement parties in case of its conclusion and is not subject to increase.
7. The bank no later than 30 (thirty) calendar days before the next payments under the agreement notifies the borrower by the method provided by the agreement on change of floating rate, on the amount of the next payments with indication of repayment sums of principal debt, remuneration, remaining balance of principal debt for date of the following repayment, the total total sums of principal debt and remuneration which are subject to payment and their total value.
8. Repayment of remuneration on loan is performed according to the floating rate of remuneration established by bank on repayment date.
9. The procedure for calculation, condition of action of floating rate of remuneration on the contracts signed before enforcement of this resolution are determined according to their conditions.
10. According to the statement of the borrower of the term of the contract, the prisoner before enforcement of Rules, are reviewed by bank taking into account provisions of these rules within 30 (thirty) calendar days from the date of the address.
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