Resolution of the Board of the National Bank of the Kyrgyz Republic of 27 June 2025 No. 2025-П-09/31-3-(НПА)

On Amendments

to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

In accordance with Articles 5, 9 and 64 of the Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic resolves:

1. To introduce amendments to the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

• "On Approval of the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for the Purposes of Refinancing and Maintaining Liquidity" of 27 November 2013 No. 45/13;

• "On Approval of the Regulation "On the 7-Day Loan of the National Bank of the Kyrgyz Republic" of 29 January 2014 No. 2/5;

• "On Approval of the Regulation "On the Loan for Maintaining Liquidity" of 3 September 2015 No. 50/1;

• "On Approval of the Regulation "On the Lender of Last Resort Loan" of 14 June 2017 No. 2017-П-09/24-6-(НПА);

• "On Approval of the Regulation "On the Lender of Last Resort Loan to Non-Bank Financial and Credit Organizations Attracting Deposits" of 17 January 2024 No. 2024-П-09/1-2-(НФКУ).

2. To the Legal Department:

• from the day of receipt of the relevant documents, within 3 (three) working days, to publish this resolution on the official website of the National Bank of the Kyrgyz Republic;

• after official publication, to send this resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Regulatory Legal Acts of the Kyrgyz Republic.

3. This resolution enters into force from the day of its official publication.

4. To the Monetary Operations Department, within 3 (three) working days, to bring this resolution to the attention of commercial banks, non-bank financial and credit organizations attracting deposits, the Association of Microfinance Organizations, and the Legal Entity Union "Union of Banks of Kyrgyzstan".

5. To the "Secretariat of the Board" Division, within 3 (three) working days, to bring this resolution to the attention of the Supervision Methodology Department, the Banking Supervision Department, the Non-Bank Organizations Supervision Department, the Accounting and Reporting Department, the Monetary Policy Department and the Legal Department of the National Bank of the Kyrgyz Republic.

6. To entrust control over the execution of this resolution to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Monetary Operations Department.

Acting Chairman M. Attokurov

Annex
to the Resolution of the Board of the National Bank of the Kyrgyz Republic of 27 June 2025 No. 2025-П-09/31-3-(НПА)

Amendments to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

1. To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for the Purposes of Refinancing and Maintaining Liquidity" of 27 November 2013 No. 45/13:

in the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for the Purposes of Refinancing and Maintaining Liquidity", approved by the above-mentioned resolution:

• subparagraph 2 of paragraph 41, after the words "notes of the National Bank, " shall be supplemented with the words "securities of international financial organizations issued and placed on the territory of the Kyrgyz Republic, provided that the issuer has a long-term sovereign credit rating not lower than the highest (AAA) or the one following the highest (AA+), which is assigned by the rating agencies Moody's Investors Service (USA), Standard & Poors (USA), Fitch Ratings (United Kingdom)"

• the second sentence of paragraph 41-1 shall be set out in the following wording:

"The requirements for the maximum volume of collateral in the form of rights of claim under loans shall be determined by the Board of the National Bank upon the recommendation of the CDKR and shall be established as a percentage of the total volume of collateral".

2. To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the 7-Day Loan of the National Bank" of 29 January 2014 No. 2/5:

in the Regulation "On the 7-Day Loan of the National Bank", approved by the above-mentioned resolution:

• the second sentence of paragraph 5 of the Regulation shall be set out in the following wording:

"The subject of collateral shall be government securities of the Cabinet of Ministers of the Kyrgyz Republic, notes of the National Bank and securities of international financial organizations issued and placed on the territory of the Kyrgyz Republic, provided that the issuer has a long-term sovereign credit rating not lower than the highest (AAA) and the one following the highest (AA+), which is assigned by the rating agencies Moody's Investors Service (USA), Standard & Poors (USA), Fitch Ratings (United Kingdom) (hereinafter – securities).".

3. To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Loan for Maintaining Liquidity" of 3 September 2015 No. 50/1:

in the Regulation "On the Loan for Maintaining Liquidity", approved by the above-mentioned resolution:

• paragraph 6, after the words "by the Board of the National Bank", shall be supplemented with the words "upon the recommendation of the Supervisory Committee of the National Bank";

• paragraph 9, after the words "by the Board of the National Bank", shall be supplemented with the words "upon the recommendation of the Supervisory Committee of the National Bank".

• the first sentence of paragraph 18, after the words "by the Board of the National Bank", shall be supplemented with the words "upon the recommendation of the Supervisory Committee of the National Bank".

4. To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Lender of Last Resort Loan" of 14 June 2017 No. 2017-П-09/24-6-(НПА):

in the Regulation "On the Lender of Last Resort Loan", approved by the above-mentioned resolution:

• paragraph 6, after the words "by the Board of the National Bank", shall be supplemented with the words "on the recommendation of the Supervisory Committee of the National Bank";

• paragraph 9, after the words "by the Board of the National Bank", shall be supplemented with the words "on the recommendation of the Supervisory Committee of the National Bank".

5. To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On the lender of last resort to non-bank financial and credit organizations attracting deposits'" of 17 January 2024 No. 2024-П-09/1-2-(НФКУ) the following amendments:

in the Regulation "On the lender of last resort to non-bank financial and credit organizations attracting deposits", approved by the above-mentioned resolution:

• in paragraph 6, after the words "by the Board of the National Bank", shall be supplemented with the words "on the recommendation of the Supervisory Committee of the National Bank";

• in paragraph 9, after the words "by the Board of the National Bank", shall be supplemented with the words "on the recommendation of the Supervisory Committee of the National Bank".