Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 13.02.2021, registration number 2693-7

Date of Entry into Force

13.02.2021

Until

01.01.2026

13.02.2021

Format

Russian
Uzbek
Uzb
Uzb|Russian

Document loses force 01.01.2026

[OKOZ:
1.
07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.19.00.00 Banking System / 07.19.03.00 Bank Reserves and Funds. Capitalization]
[TSZ:
1.
Finance / Banks and other credit institutions. Credits]

Resolution of the Board of the Central Bank of the Republic of Uzbekistan

On Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

[Registered by the Ministry of Justice of the Republic of Uzbekistan on February 13, 2021, registration number 2693-7]

This resolution is based on Resolution No. 21/6 of the Board of the Central Bank of the Republic of Uzbekistan dated October 2, 2025, "On Approval of the Regulation on Requirements for Bank Capital Adequacy" (registration number 3697, dated 28.10.2025), and will lose its force on January 1, 2026.

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Banks and Banking Activity," the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions to the Regulation on Requirements for Commercial Bank Capital Adequacy, approved by Resolution No. 14/3 of the Board of the Central Bank of the Republic of Uzbekistan dated June 13, 2015 (registration number 2693, dated July 6, 2015) (Collection of Legislation of the Republic of Uzbekistan, 2015, No. 27, Article 360), shall be made in accordance with the Appendix.

2. This resolution enters into force from the date of its official publication.

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

January 11, 2021,

No. 28/22

APPENDIX

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Resolution No. 28/22 of the Board of the Central Bank of the Republic of Uzbekistan dated January 11, 2021

Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

1. In paragraph 2:

• in the third and fourth sub-paragraphs, replace the words "other mandatory payments" with the word "fees";
• delete the tenth sub-paragraph;
• renumber the eleventh through thirteenth sub-paragraphs as the tenth through twelfth sub-paragraphs, respectively.

2. Paragraph 3 shall be worded as follows:

"3. The amount of the bank's statutory capital must not be less than 100.0 billion UZS."

3. Paragraph 13 shall be worded as follows:

"13. Preference shares that lead to changes in dividend rates as a result of changes in the bank's credit rating are not included in the calculation of Tier 1 capital, regardless of whether the conditions in paragraphs 11 and 12 of this Regulation are met."

4. In paragraph 14, sub-paragraph 'a', delete the words "if the bank's interim financial report has undergone an audit audit — in an amount not exceeding its audited financial results, otherwise 50 percent of the net profit in the bank's report".

5. In paragraph 16, second sub-paragraph, after the words "intangible assets", add the words ", except for the bank's software".

6. Paragraphs 17, 20 — 24 shall be deemed to have lost their force.

7. Paragraph 18 shall be worded as follows:

"18. The sum of assets taking into account risk is found by multiplying the balance sheet sum of each asset by the risk level indicated in Appendices 1 to 6 of this Regulation applicable to it, and summing the identified risk-weighted assets."

8. Add paragraph 18-1 with the following content:

"18-1. Loans granted before March 1, 2021, are calculated based on the risk levels indicated in Appendix 6 of this Regulation.

Loans granted starting from March 1, 2021, are calculated based on the risk levels indicated in Appendices 3-4 of this Regulation."

9. Paragraphs 34 — 36 shall be worded as follows:

"34. The ratio of regulatory capital to the total sum of risk-weighted assets must not be less than 13 percent. The capital adequacy coefficient K1 of regulatory capital is calculated as follows:

K1 = RC / RWTA.

35. The capital adequacy coefficient K2 of Tier 1 capital is defined as Tier 1 capital / RWTA.

Taking into account that the capital conservation buffer requires 3.0 percent of risk-weighted assets to be of high-quality Tier 1 capital, the K2 coefficient must not be less than 0.10 (10.0 percent).

The capital conservation buffer consists of an additional reserve equal to 3.0 percent of risk-weighted assets. The purpose of such a reserve is to guarantee the provision of a capital reserve that banks can use to cover losses during periods of financial and economic difficulties.

36. The capital adequacy coefficient K3 of Tier 1 core capital is defined as Tier 1 core capital / RWTA, and its minimum level must not be less than 0.08 (8.0 percent)."

37. Paragraph 37 shall be deemed to have lost its force.

38. Appendices 1 — 6 to these amendments and additions shall be added in the following wording to Appendices 1 — 6.

APPENDIX 1

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Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

APPENDIX 1

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the Regulation on Requirements for Commercial Bank Capital Adequacy

Risk Levels for Part of Bank Assets

No.	Description	Risk Level
1.	National and foreign currency in cash held in the bank and its branches (including gold bars belonging to commercial banks held in bank vaults or in the vaults of the Central Bank of the Republic of Uzbekistan)	0%
2.	Funds in national currency in representative and reserve accounts of the Central Bank of the Republic of Uzbekistan	0%
3.	Direct claims on the Government of the Republic of Uzbekistan and the Central Bank, and securities issued by them	0%
4.	Claims on the International Monetary Fund and the World Bank Group (International Bank for Reconstruction and Development, International Finance Corporation, International Development Association, International Centre for Settlement of Investment Disputes), as well as the Asian Development Bank, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development, European Investment Bank, European Investment Fund, Islamic Development Bank, and the Development Bank of the Council of Europe, investments in their securities, as well as bank assets and off-balance sheet items secured or guaranteed by securities issued by them. At the same time, the part of bank operations carried out from their funds with a full guarantee obligation of these organizations to cover risks. Here:

• securities accepted as collateral must be in the bank's possession and transferred to it in the established manner;
• guarantees and full risk coverage obligations must be direct and unconditional, i.e., not include any additional conditions restricting their application. | 0% |
  | 5. | Part of assets or off-balance sheet items for which a deposit is accepted as collateral and the collateral currency matches. Here, the deposit accepted as collateral must be formed in this bank, and it must be specified that the bank can use the deposit unconditionally if the customer fails to fulfill the contract terms on time. | 0% |
  | --- | --- | --- |
  | 6. | Assets indicated in paragraph 16 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015) | 0% |
  | 7. | Funds in foreign currency in representative and reserve accounts of the Central Bank of the Republic of Uzbekistan | 20% |
  | 8. | Assets, their parts, and off-balance sheet liabilities secured or guaranteed by securities issued or guaranteed by the Government of the Republic of Uzbekistan or the Central Bank of the Republic of Uzbekistan, valued at current market value. Here: | |
• securities accepted as collateral must be in the bank's possession and transferred to it in the established manner;
• guarantees and full risk coverage obligations must be direct and unconditional, i.e., not include any additional conditions restricting their application. | 20% |
  | 9. | Money documents in transit (including cash in transit) | 20% |
  | --- | --- | --- |
  | 10. | Part of assets or off-balance sheet items for which a deposit is accepted as collateral and the collateral currency does not match. Here, the deposit accepted as collateral must be formed in this bank, and it must be specified that the bank can use the deposit unconditionally if the customer fails to fulfill the contract terms on time. | 20% |
  | 11. | Bank's fixed assets and other private property | 100% |
  | 12. | Loans for which the bank has a preliminary pledge right but which do not belong to the bank | 100% |
  | 13. | Assets not denominated in national currency and exceeding the amount of financing in national currency | 100% |
  | 14. | Real estate included in the bank's balance sheet for full or partial recovery of debt | 150% |
  | 15. | Bank's real estate not used for more than two years | 150% |
  | 16. | Assets with restructured terms | 150% |
  | 17. | All other assets, except for assets indicated in Appendices 2 — 6 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015) | 100% |

APPENDIX 2

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Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

APPENDIX 2

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the Regulation on Requirements for Commercial Bank Capital Adequacy

Risk Levels Based on Counterparty Rating Assessments*

No.	Description	Groups of Risk Levels Based on Rating Assessments
		Rating assessments of rating companies "Standard & Poor's" and "Fitch Ratings"
		AAA to AA-	A+ to A-	BBB+ to BBB-	BB+ to B-	Below B-	No rating assessment
		Rating assessments of rating company "Moody's Investors Service"
		Aaa to Aa3	A1 to A3	Baa1 to Baa3	Ba1 to B3	Below B3	No rating assessment
1.	Claims on governments and central banks of foreign countries, investments in their securities, as well as bank assets and off-balance sheet items secured or guaranteed by securities issued by them. Here:

• securities accepted as collateral must be in the bank's possession and transferred to it in the established manner;
• guarantees must be direct and unconditional, i.e., not include any additional conditions restricting their application. | 0% | 20% | 50% | 100% | 150% | 100% |
  | 2. | Claims on state sector organizations (excluding Government and Central Bank) in foreign countries, investments in their securities, as well as bank assets and off-balance sheet items secured or guaranteed by securities issued by them. Here:
• securities accepted as collateral must be in the bank's possession and transferred to it in the established manner;
• guarantees and full risk coverage obligations must be direct and unconditional, i.e., not include any additional conditions restricting their application. | 20% | 50% | 50% | 100% | 150% | 150% |
  | 3. | Risk exposures related to banks:
  all claims on banks, including loans and money market instruments, as well as all other assets secured by securities issued by these banks and bank guarantees:
• 90 days or less | 20% | 20% | 20% | 50% | 150% | 150% |
  | | - More than 90 days | 20% | 50% | 50% | 100% | 150% | 150% |
  | --- | --- | --- | --- | --- | --- | --- | --- |
  | 4. | Securities of companies in foreign countries, claims on them, and their guarantees. Here: | | | | | | |
• securities accepted as collateral must be in the bank's possession and transferred to it in the established manner;
• guarantees and full risk coverage obligations must be direct and unconditional, i.e., not include any additional conditions restricting their application. | 20% | 50% | 100% | 100% | 150% | 150% |

• These requirements do not apply if the asset meets one of the criteria indicated in Appendices 1 and 2 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015).

Rating assessments equal to this level of other rating companies determined by the Central Bank of the Republic of Uzbekistan."

APPENDIX 3

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Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

APPENDIX 3

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the Regulation on Requirements for Commercial Bank Capital Adequacy

Risk Levels for Loans Granted to Legal Entities and Individual Entrepreneurs*

No.	Annual Interest Rate	Risk Level	Risk Level for Loans with "Non-Performing" Status, in Court Proceedings, and/or with Unpaid Debts by the Due Date
1.	In national currency: Main rate of the Central Bank + 6 percent band and below,
In foreign currency: Loans issued at interest rates of 6 percent and below	100%	200%
2.	In national currency: From Main rate of the Central Bank + 6 percent band to Main rate of the Central Bank + 9 percent band,
In foreign currency: Loans from 6 percent to 8 percent	150%
3.	In national currency: Main rate of the Central Bank + 9 percent band and above,
In foreign currency: Loans at 8 percent and above	200%

• These requirements do not apply if the loan meets one of the criteria indicated in Appendices 1 and 2 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015)."

APPENDIX 4

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Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

APPENDIX 4

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the Regulation on Requirements for Commercial Bank Capital Adequacy

Risk Levels for Loans Granted to Individuals (Excluding Mortgage Loans)*

No.	Annual Interest Rate	Risk Level	Risk Level for Loans with "Non-Performing" Status, in Court Proceedings, and/or with Unpaid Debts by the Due Date
1.	In national currency: Loans at Main rate of the Central Bank + 9 percent band and below	100%	200%
2.	In national currency: From Main rate of the Central Bank + 9 percent band to Main rate of the Central Bank + 13 percent band	150%
3.	In national currency: Loans at Main rate of the Central Bank + 13 percent band and above	200%

• These requirements do not apply if the loan meets one of the criteria indicated in Appendices 1 and 2 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015)."

APPENDIX 5

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Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

APPENDIX 5

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the Regulation on Requirements for Commercial Bank Capital Adequacy

Risk Levels for Mortgage Loans Granted to the Population*

Description	Loan-to-Value Ratio (LTV)				Risk Level for Loans with "Non-Performing" Status, in Court Proceedings, and/or with Unpaid Debts by the Due Date
	LTV < 50%	50% ≤ LTV < 75%	75% ≤ LTV < 100%	100% ≤ LTV
Risk Level	35%	50%	100%	150%	200%

• These requirements do not apply if the loan meets one of the criteria indicated in Appendices 1 and 2 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015).

Calculated in accordance with Chapter 6 of the Regulation on Limiting Conditions for Granting Mortgage Loans to the Population (registration number 3269, dated June 30, 2020)."

APPENDIX 6

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Amendments and Additions to the Regulation on Requirements for Commercial Bank Capital Adequacy

APPENDIX 6

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the Regulation on Requirements for Commercial Bank Capital Adequacy

Risk Levels for Loans Granted to Legal Entities, Individual Entrepreneurs, and Individuals (Excluding Mortgage Loans)*

No.	Description	Risk Level
1.	Loans granted to legal entities and individual entrepreneurs, as well as to individuals	100%
2.	Loans with "Non-Performing" status, in court proceedings, and/or with unpaid debts by the due date	150%

• These requirements do not apply if the loan meets one of the criteria indicated in Appendices 1 and 2 of the Regulation on Requirements for Commercial Bank Capital Adequacy (registration number 2693, dated July 6, 2015)."

(National Database of Legislative Acts of the Republic of Uzbekistan, 13.02.2021, No. 10/21/2693-7/0116)