Regulatory Alerts2005-12-15 | 105747Regulation on the Batch Clearing System for Small Retail and Regular Payments in the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Regulation to establish and govern the Batch Clearing System for Small Retail and Regular Payments, mandating standardized procedures for processing, clearing, and final settlement of non-urgent retail payments. It defines participant categories (direct, indirect, sub, and special), establishes operational rules including batch formation, priority codes, and the "all or nothing" settlement principle, and sets risk management limits of 1.0 million som for individual payments alongside daily net debit position caps. The Regulation further assigns clear liabilities to the clearing center and participants, ensuring liquidity management, secure electronic documentation, and seamless integration with the real-time gross settlement system to minimize financial risks.