Instruction on Cash Services at the National Bank for Commercial Banks and Financial-Credit Organizations

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Date created: 2023-12-25

APPROVED

By Resolution No. 55/3 of the Board of Directors of the National Bank of the Kyrgyz Republic dated December 21, 2007, as amended and supplemented.

INSTRUCTION ON CASH SERVICES AT THE NATIONAL BANK FOR COMMERCIAL BANKS AND FINANCIAL-CREDIT ORGANIZATIONS

GENERAL PROVISIONS. This Instruction establishes the rules for issuing and receiving national currency from commercial banks, financial-credit organizations, as well as international financial organizations (hereinafter referred to as "banks"), and defines the procedure for packaging and examining banknotes and coins.

Banks are serviced by the circulating cash offices of the National Bank based on a correspondent account agreement. Issuance and receipt of cash are carried out until 12:00. In exceptional cases, with the agreement of the Accounting and Reporting Department and the Cash Management Department, cash issuance or receipt is permitted until 15:00.

SECTION 1. Processing and Packaging of National Currency.

1.1. A unified packaging procedure for national currency banknotes and coins, established by this Instruction, is applied in all banks. Cashiers are required to sort the banknotes and coins received into the cash office by denomination, and then - into fit for circulation, worn, and defective categories. Sorted by denomination, fit and worn banknotes, as well as fit and defective coins, are formed and packaged separately by the cashier.

1.2. Every 100 sheets of banknotes of the same denomination are formed into bundles (корешки) with the reverse side up, showing the series and number, so that the white margin is on the right, and are banderolled crosswise with a standard banderole or annular transverse banderole, depending on the packaging method (twine or polyethylene bag), respectively.

1.3. Standard banderoles for packaging banknotes must contain the following details:

• name of the bank;
• cashier's name stamp (code) who performed the counting, sorting, and packaging of banknotes. It should be noted that banknotes are packaged as follows: 1 tyiyn - with a single-color banderole; 10 tyiyn - with a banderole having two red stripes; 50 tyiyn - with a banderole having two yellow stripes; 1 som - with a banderole having one red stripe; 5 som - with a banderole having one blue stripe; 10 som - with a banderole having one green stripe; 20 som - with a banderole having three blue stripes; 50 som - with a banderole having three green stripes; 100 som - with a banderole having three red stripes; 200 som - with a banderole having one yellow stripe; 500 som - with a banderole having two blue stripes; 1000 som - with a banderole having two green stripes; 5000 som - with a banderole having three yellow stripes. For vacuum packaging of banknotes, a single-color annular banderole may be used, on which the name of the bank and the cashier's name stamp (code) are marked. When other denominations of national currency banknotes are put into circulation, the National Bank additionally informs about their packaging rules.

1.4. Every 10 bundles (1 bundle = 100 sheets) of cash are formed into a pack (1000 sheets in one pack of the same denomination), which is fitted with top and bottom cardboard covers, tied crosswise with twine without knots or tears (double knot on four blind knots), or packaged in a polyethylene bag - vacuum packaging.

1.5. On the top or bottom cover of the banknotes, at both ends of the twine near the knot, the cashier applies a seal with an impression of the bank institution's code.

1.6. Fit for circulation coins are sorted by denomination and packaged by cash office workers into bags without external seams or damage. The neck of each packaged bag is tightly tied with twine without knots or tears. The ends of the twine are tied by the cashier in a blind knot with the application of a seal bearing the bank institution's code and a label. If a bag sewing machine is available, bags are sewn together with the label accordingly.

1.7. The value of coins in one bag is set by denomination:

1. 10 tyiyn - 3,000 pieces;
2. 50 tyiyn - 2,000 pieces;
3. 1 som - 2,000 pieces;
4. 3 som - 1,000 pieces;
5. 5 som - 1,000 pieces;
6. 10 som - 500 pieces.

1.8. In addition to bags, coins may be sorted into packs of 100 pieces each, from which full and partial bags are formed. For vacuum packaging, a label with details is inserted into each pack separately; for paper packaging, a stamp indicating all details is applied to the front side of the pack. In case of changes to the value norms for one bag or the release of new coins, the Cash Management Department (UdN) notifies the relevant subdivisions of the National Bank and banks.

1.9. On the top cover of the banknote pack and on the label of the coin bag, regardless of packaging method, the following are marked:

1. stamp with the Bank's name or code number;
2. denomination of banknotes or coins;
3. value of banknotes or coins;
4. quantity of banknotes or coins;
5. packaging date;
6. cashier's name stamp or code;
7. cashier's signature;
8. stamp with the inscription "defective" on the label of a bag with defective coins and the stamp "worn" on the cover of a pack of worn banknotes (Appendix 7);
9. issue number.

SECTION 2. Receipt of Money by Circulating Cash Offices of the National Bank

2.1. When depositing money into the circulating cash offices of the National Bank, the bank (client) fills out a deposit notice form (set: notice, receipt, order) (Appendix 1) in accordance with the "Instruction on the Procedure for Filling Out Payment Documents". The form is submitted to a staff member of the Banking Settlements Department (hereinafter - BSD)/accounting office of the Regional Office of the National Bank, who checks the correctness of the form's completion, signs it, and forwards it to the cash office for execution. When depositing money into the circulating cash offices of the National Bank by collectors, cash is received based on receipt cash orders according to an inventory of transmitted valuables.

2.2. Upon receiving receipt documents, the cashier is required to:

• verify the presence and identity of accounting staff signatures against available specimens;
• compare the amounts stated in them numerically and in words;
• call the depositor and receive money from them:

1. full packs with undamaged packaging are received based on inscriptions on the cover and counted by the number of bundles in the pack; assembled and partial packs and