Regulatory Alerts2017-06-08 | 129057Regulation on the Liquidation of Banks
The National Bank of the Kyrgyz Republic issued this Regulation to establish qualification requirements for bank liquidators and define the procedures for the liquidation of banks and other deposit-taking entities. The document mandates strict eligibility criteria for liquidators, outlines their immediate duties to secure assets upon appointment, and sets a maximum liquidation period of 24 months with specific protocols for extensions or suspensions. It further prescribes detailed reporting obligations, including preliminary, current, and final reports, to ensure transparency and the protection of creditors' interests throughout the process.
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