Regulatory Alerts2004-12-29 | 127381Instruction on the Procedure for Compliance with Limits on Open Currency and Precious Metals Positions by Commercial Banks in the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Instruction to establish the calculation methods and compliance limits for open currency and precious metals positions for all commercial banks operating in the country. The regulation mandates that banks maintain open positions within strict percentage limits relative to their net total capital, specifically capping individual currency positions at 15% and aggregate positions at 20%, with zero tolerance for non-OECD currencies. Non-compliance triggers immediate corrective actions, daily reporting requirements, and financial penalties, while systematic violations may result in license revocation.
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