Regulatory Alerts2019-09-02 | 111686Regulation on Emergency Situations in the Payment System
The National Bank of the Kyrgyz Republic issued this Regulation to establish comprehensive requirements for ensuring uninterrupted operation and reliability of the payment system, particularly regarding emergency situations arising from hardware/software failures, power interruptions, communication channel disruptions, and unauthorized access. It mandates that payment system operators, participants, and critical service providers implement detailed internal procedures for incident management, risk assessment, personnel continuity, and automated or manual switching to backup hardware-software complexes. The Regulation further defines strict operational criteria, including maximum four-hour downtime limits for systemically important systems, mandatory testing of updates, and clear liability distribution to minimize operational risks and safeguard banking secrecy.