Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2020-П-07\18-2-(ДКП) dated 30 March 2020

On Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic

“On the Norms of Mandatory Reserve Requirements for Banks”

dated 13 March 2019 No. 2019-П-07/10-2-(ДКП)

In accordance with Articles 20, 27 and 68 of the Law of the Kyrgyz Republic “On the National Bank of the Kyrgyz Republic, Banks and Banking Activity” and the Regulation “On Mandatory Reserves” approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated 13 March 2019 No. 2019-П-07/10-1-(ДКП), the Board of the National Bank of the Kyrgyz Republic resolves:

• 1. To introduce the following amendment to the Resolution of the Board of the National Bank of the Kyrgyz Republic “On the Norms of Mandatory Reserve Requirements for Banks” dated 13 March 2019 No. 2019-П-07/10-2-(ДКП):

  • in paragraph 3, the words “80.00 percent” shall be replaced by the words “70.00 percent”.

• 2. The Legal Department shall:

  • publish this resolution on the official website of the National Bank of the Kyrgyz Republic;

  • after official publication, send this resolution

  • to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Normative Legal Acts of the Kyrgyz Republic.

• 3. The Economic Department shall bring this resolution to the attention of banks.

• 4. This resolution shall enter into force on 1 April 2020.

• 5. Control over the execution of this resolution shall be assigned to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Economic Department.

Chairman
T. Abdygulov