Regulatory Alerts2006-06-28 | 118728Regulation on Minimum Requirements for Country Risk Management in Commercial Banks and Other Financial-Credit Organizations Licensed by the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this regulation to establish mandatory minimum requirements for country risk management, including transfer and sovereign risks, within commercial banks and licensed financial institutions. The document mandates the implementation of comprehensive risk policies, annual risk assessments, specific reserve provisioning tiers based on country risk categories, and strict internal controls to prevent excessive concentration of cross-border exposures. It further requires clear delineation of responsibilities between the Board of Directors and Management, regular stress testing, and transparent disclosure of risk mitigation measures in annual reports.
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