Regulatory Alerts2013-03-28 | 127979Regulation on the "Overnight Credit" of the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Regulation to establish the framework, conditions, and procedures for commercial banks to obtain overnight credit through its Automated Trading System. It mandates that eligible licensed banks secure these short-term national currency loans with state or international financial securities, subject to fixed interest rates set by the Monetary Policy Committee and automatic repayment mechanisms. The document further defines collateral requirements, interest calculation formulas, default penalties, and the standardized General Agreement governing borrower-lender obligations.
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