Regulatory Alerts2013-06-26 | 123716Regulation on the Procedure for Placement, Secondary Offering, Additional Placement, Reverse Repurchase and Settlement of Government Securities of the Cabinet of Ministers of the Kyrgyz Republic through the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Regulation to establish the standardized procedure for placing, secondary offering, additional placement, reverse repurchase, and settling government securities of the Cabinet of Ministers through its Automated Trading System. It mandates direct participants (commercial banks and institutional investors) to submit competitive or non-competitive applications via the ATS, defines strict volume limits, pricing mechanisms (weighted average and cut-off prices), and settlement timelines. The document further outlines eligibility criteria for direct participant status, application validation rules, and the Issuer's authority to approve or declare auctions unsuccessful based on yield thresholds and participant counts.