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2017-07-31 | 14/16

Added 2026-08-13 · Updated 2026-08-20

Amendments and Additions to the Regulation on Transactions with Persons Related to the Bank

The Central Bank of Uzbekistan amends the Regulation on Transactions with Persons Related to the Bank by adding 'repo' and 'swap' to the list of financial instruments in clause 2 and revising clause 18 to explicitly include these instruments, along with credit line modifications, guarantees, and various investment obligations, in the calculation of risk exposure for a single related person. Clause 19 is also updated to specify that loans granted to enterprises established based on assets of economically distressed companies acquired through competitive auctions are included in the risk calculation. These amendments align the regulation with recent laws on courts and civil procedure, as well as presidential decrees supporting distressed enterprises.

Uzbekistan

Central Bank of the Republic of Uzbekistan

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 24.07.2017, registration number 2706-1

Date of Entry into Force

31.07.2017

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30.01.2021

31.07.2017

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Document lost its force 30.01.2021

[ OKOZ: 1. 21.00.00.00 Complex documents on amendments and additions / 21.04.00.00 Departmental normative legal documents]

Resolution of the

Board of the Central Bank of the Republic of Uzbekistan

On Amendments and Additions to the Regulation on Transactions with Persons Related to the Bank

[Registered by the Ministry of Justice of the Republic of Uzbekistan on July 24, 2017, registration number 2706-1]

This resolution loses its force on January 30, 2021, based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 21/12 dated September 21, 2020 "On Approval of the Regulation on the Maximum Amount of Risk for a Single Borrower, a Group of Interrelated Borrowers, Including Persons Related to the Bank" (registration number 3283, dated 29.10.2020).

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", No. URQ-428 dated April 12, 2017 "On Courts", as well as the Laws on Amendments and Additions to the Civil Procedure Code and the Economic Procedure Code of the Republic of Uzbekistan, and the Decree of the President of the Republic of Uzbekistan No. PF-5022 dated April 20, 2017 "On Further Expansion of Mechanisms for Supporting Economically Distressed Enterprises and Measures to Encourage the Organization of New Production Capacities Based on Real Estate Objects of Commercial Banks",

the Board of the Central Bank of the Republic of Uzbekistan resolves:

Amendments and additions shall be made to the Regulation on Transactions with Persons Related to the Bank, approved by the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 19/15 dated July 22, 2015 (registration number 2706, August 5, 2015) (Collection of Legislation of the Republic of Uzbekistan, 2015, No. 31, Article 418), in accordance with the Appendix.
This resolution enters into force from the date of its official publication.

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

June 24, 2017,

No. 14/16

APPENDIX

to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 14/16 dated June 24, 2017

Amendments and Additions to the Regulation on Transactions with Persons Related to the Bank

The second paragraph of clause 2 shall be supplemented with the words "repo, swap," after the word "factoring".
Clause 18 shall be stated in the following wording:

"18. In determining the amount of risk attributable to one person related to the bank in accordance with clauses 16 and 17 of this Regulation, all forms of credit and credit lines, overdrafts, leasing, factoring, repo, swap, modification of credit terms, provided guarantees and funds paid and not recovered thereunder, securities and any type of investments, any legally grounded obligations for the purchase of securities or foreign currency, sale of assets with installment payment conditions, opening of letters of credit, purchase of property, accrued interest, liabilities reflected in off-balance sheet items, and other financing-related transactions, as well as all amounts written off, except for cases where the debtor is declared bankrupt as a result of payment obligations, are taken into account."

The sixth paragraph of clause 19 shall be stated in the following wording:

"Loans granted to enterprises established on the basis of property of production enterprises sold as property in competitive auctions in accordance with the Decree of the President of the Republic of Uzbekistan No. PF-4053 dated November 18, 2008 "On Measures to Further Increase the Financial Stability of Enterprises of the Real Sector of the Economy", as well as loans granted to new enterprises established on the basis of property of enterprises of the Central Bank's balance sheet accepted at liquidation value in accordance with the decisions of economic courts for liquidation in accordance with the procedure for the realization of economically distressed enterprises to banks in competitive auctions, as approved by the Order of the President of the Republic of Uzbekistan No. F-4010 dated November 19, 2008."

(Collection of Legislation of the Republic of Uzbekistan, 2017, No. 30, Article 745)