Regulatory Alerts2013-03-28 | 114398Regulation on the Issuance, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Regulation to establish the comprehensive framework for the issuance, placement, circulation, servicing and redemption of its discount Notes through an Automated Trading System. The document mandates that direct commercial banks and designated state funds participate in auctions or additional placements, specifying procedural rules for application submission, pricing methods, settlement obligations and penalty mechanisms for insufficient funds. It further defines the rights and liabilities of direct and indirect participants, outlines the Monetary Policy Committee's authority over issuance parameters, and governs secondary market transactions to ensure effective monetary policy implementation.