Regulatory Alerts2019-06-19 | 92944Rules for the Registration of Collateral in the Form of Securities Placed through the National Bank of the Kyrgyz Republic in Interbank Credit Operations
The National Bank of the Kyrgyz Republic issued these Rules to standardize the registration process for collateral in the form of government securities and bank notes placed through its depository in interbank credit operations. The document establishes mandatory documentation, fee structures (300 som), and strict 17:00 submission deadlines for registering collateral agreements, while defining specific account types (collateral, investment, general) and the roles of direct participants and collateral managers. It further outlines procedures for releasing or replacing pledged securities, handling enforcement in judicial or out-of-court proceedings, and managing maturity distributions when collateral remains encumbered.
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