Regulatory Alerts2013-03-28 | 115420Regulation on the Procedure for Conducting Outright (Rediscount) Operations by the National Bank of the Kyrgyz Republic for the Purchase of Securities on the Secondary Market
The National Bank of the Kyrgyz Republic issued this Regulation to establish the procedure for conducting outright (rediscount) operations for purchasing securities on the secondary market through its Automated Trading System. Commercial banks meeting specific licensing, account, and agreement requirements may participate by submitting applications that the Monetary and Credit Policy Committee evaluates against announced security types, funding volumes, and maturity terms. The framework defines strict rights, obligations, and liability mechanisms—including a 0.5% unilateral penalty for non-fulfillment—alongside force majeure provisions, dispute resolution protocols, and a standard bilateral agreement template governing the operational relationship between the central bank and participating financial institutions.