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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Date of creation: 2025-09-24
A P P R O V E D
By the Resolution of the Board of the National Bank of the Kyrgyz Republic
dated May 27, 2009 No. 25/11
In the amended version (as amended on March 30, 2011 No. 20/7) (as amended on March 30, 2012 No. 14/13) (as amended on December 9, 2015 No. 76/7) (as amended on June 14, 2017 No. 2017-P-19/24-7-(NPA)) (as amended on March 25, 2020 No. 2020-P-19/16-5-(NPA)) (as amended on September 17, 2025 No. 2025-P-19/47-3-(NPA))
Instruction on the procedure for payments and settlements in the gross real-time settlement system of the Kyrgyz Republic
(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated March 25, 2020 No. 2020-P-19/16-5-(NPA))
- General Provisions
1.1. (Expired in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 14, 2017 No. 2017-P-19/24-7-(NPA).)
1.2. This Instruction establishes the procedure for operations regarding the preparation, transmission, and processing of payment documents on paper and electronic payment documents (hereinafter - EPD) and messages when making payments using the Gross Real-Time Settlement System (hereinafter - GRTSS).
(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 9, 2015 No. 76/7)
1.3. The scope of this Instruction covers the activities of all financial and credit organizations licensed by the National Bank of the Kyrgyz Republic (hereinafter