On Amendments and Additions to the Regulation on Maximum Risk Amounts for a Single Borrower or a Group of Interrelated Borrowers

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 21.02.2020, registration number 2707-4

Date of Entry into Force

21.02.2020

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30.01.2021

21.02.2020

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Document lost its force 30.01.2021

[OKOZ:

1.03.00.00.00 Civil Legislation / 03.11.00.00 Specific Types of Obligations / 03.11.12.00 Debt;

2.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.22.00.00 Lending / 07.22.04.00 Securing Repayment of Bank Loans]

[TSZ:

1. Civil Legislation. Entrepreneurship / Obligation Law. Specific Types of Obligations;

2. Finance / Banks and Other Credit Institutions. Loans]

Resolution of the Board of the Central Bank of the Republic of Uzbekistan

On Amendments and Additions to the Regulation on Maximum Risk Amounts for a Single Borrower or a Group of Interrelated Borrowers

[Registered by the Ministry of Justice of the Republic of Uzbekistan on February 21, 2020, registration number 2707-4]

This resolution is based on Resolution No. 21/12 of the Board of the Central Bank of the Republic of Uzbekistan dated September 21, 2020, "On Approval of the Regulation on Maximum Risk Amounts for a Single Borrower, a Group of Interrelated Borrowers, Including Persons Related to the Bank" (registration number 3283, dated 29.10.2020), and loses its force on January 30, 2021.

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Banks and Banking Activity," the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be made to the Appendix to the Regulation on Maximum Risk Amounts for a Single Borrower or a Group of Interrelated Borrowers, approved by Resolution No. 19/16 of the Board of the Central Bank of the Republic of Uzbekistan dated July 22, 2015 (registration number 2707, dated August 5, 2015) (Collection of Legislation of the Republic of Uzbekistan, 2015, No. 31, Article 420).

2. This resolution enters into force from the date of its official publication.

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

January 16, 2020,

No. 1/6

Appendix

to Resolution No. 1/6 of the Board of the Central Bank of the Republic of Uzbekistan dated January 16, 2020

Amendments and Additions to the Regulation on Maximum Risk Amounts for a Single Borrower or a Group of Interrelated Borrowers

1. The second paragraph of Clause 4 shall be supplemented with the words "interbank deposits," after the word "loans."

2. Clause 6 shall be worded as follows:

"6. The maximum risk amount for unsecured credit (committed credit) attributable to a single borrower or a group of interrelated borrowers, as well as for factoring services, must not exceed 5 percent of the bank's first-tier capital, excluding interbank credit (deposit) operations, which are carried out in accordance with the requirements of Clause 5 of this Regulation."

3. Clause 8 shall be worded as follows:

"8. The restrictions provided for in Clauses 5–7 of this Regulation shall not be applied in the following cases:

loans secured by securities of the Government of the Republic of Uzbekistan and the Central Bank, which can cover 125 percent of the market value of the loans, and loans secured by guarantees or other obligations of the Government of the Republic of Uzbekistan;

loans secured by deposits held at the lending bank;

risks arising with the International Monetary Fund and the World Bank Group (International Bank for Reconstruction and Development, International Finance Corporation, International Centre for Settlement of Investment Disputes, International Development Association), as well as the Asian Development Bank, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development, European Investment Bank, European Investment Fund, Islamic Development Bank, and the Council of Europe Development Bank, as well as when obligations in bank assets and/or off-balance sheet items are guaranteed by these organizations."

(National Database of Legislative Acts of the Republic of Uzbekistan, 21.02.2020, No. 10/20/2707-4/0201)