Regulatory Alerts2009-05-27 | 127789Instruction on the Procedure for Payments and Settlements in the Gross Real-Time Settlement System of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issues this Instruction to establish comprehensive procedures for preparing, transmitting, and processing paper and electronic payment documents within the Gross Real-Time Settlement System (GRTSS). It mandates real-time monitoring of liquidity and payment queues, defines strict operating schedules with initial, final, and completion disconnect periods, and ensures that all settlements are unconditional, irrevocable, and executed strictly within participants' credit balances. Furthermore, it outlines risk management protocols, electronic signature verification, and the precise mechanisms for net position settlements with adjacent systems to guarantee operational finality.
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