Regulatory Alerts2008-05-28 | 130007Regulation on Direct Banking Supervision
The National Bank of the Kyrgyz Republic issued this Regulation to establish the framework for direct banking supervision as a corrective measure for commercial banks, payment system operators, and payment organizations facing financial instability or regulatory violations. The document details the procedures for appointing controllers, defines specific grounds for intervention such as unresolved financial problems or sanctions risks, and outlines the powers of supervisory committees to restrict operations and mandate capitalization. It further specifies the responsibilities of bank management and controllers to ensure the preservation of depositor interests and the stability of the financial system.
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