Regulatory Alerts1998-12-14 | 128997Rules for Regulating Commercial Bank Operations in Trust Management
The National Bank of the Kyrgyz Republic issued these Rules to regulate commercial bank operations in trust management, defining the rights, duties, and liabilities of banks acting as trustees. The document establishes strict prohibitions against conflicts of interest, mandates the segregation of trust assets from bank property, and imposes a cap limiting total trust assets to 50% of the bank's net aggregate capital. It further requires detailed quarterly and annual reporting to the regulator and outlines specific organizational structures, such as trust committees, to ensure compliance and prevent misuse of confidential information.
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