Regulatory Alerts2018-02-28 | 112521Regulation on the Procedure for Commercial Banks to Place Foreign Currency Funds in Deposit Accounts Opened at the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this regulation to establish the minimum requirements and procedures for commercial banks to temporarily place foreign currency funds in deposit accounts at the central bank for liquidity risk management. The document mandates that banks must exhaust alternative placement options in other financial organizations before depositing funds, subject to strict eligibility criteria and negative interest rate structures based on deposit terms. It further details the mandatory application process, the required Agreement between the bank and the National Bank, and specific operational constraints regarding fund transfers, confidentiality, and expense reimbursement.
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