«REPUBLIC OF KAZAKHSTAN
ҰЛТТЫҚ БАНКІ»
РЕСПУБЛИКАЛЫҚ
МЕМЛЕКЕТТІК МЕКЕМЕСІ
РЕСПУБЛИКАНСКОЕ
STATE INSTITUTION
«НАЦИОНАЛЬНЫЙ БАНК
РЕСПУБЛИКИ КАЗАХСТАН»
БАСҚАРМАСЫНЫҢ
ҚАУЛЫСЫ
ПОСТАНОВЛЕНИЕ
ПРАВЛЕНИЯ
31 августа 2016 года
Алматы қаласы
№ 210
город Алматы

On approval of the Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations

Registered by the Ministry of Justice of the Republic of Kazakhstan on 18 October 2016 No. 14335

(with amendments and additions as of 27.08.2018)

In accordance with the laws of the Republic of Kazakhstan of 30 March 1995 «On the National Bank of the Republic of Kazakhstan», of 26 July 2016 «On Payments and Payment Systems», for the purpose of determining the procedure for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations, the Board of the National Bank of the Republic of Kazakhstan DECIDES:

1. To approve the attached Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations.

2. To recognize as having lost force certain resolutions of the Board of the National Bank of the Republic of Kazakhstan, as well as structural elements of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan, according to the list in accordance with the appendix to this resolution.

3. The Department of Payment Systems (Ashykbekov E.T.) shall, in the procedure established by the legislation of the Republic of Kazakhstan, ensure:

1) together with the Legal Department (Sarsenova N.V.), state registration of this resolution with the Ministry of Justice of the Republic of Kazakhstan;

2) sending of this resolution to the republican state enterprise with the right of economic management «Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan»:

for official publication in the information and legal system «Әділет» within ten calendar days after its state registration with the Ministry of Justice of the Republic of Kazakhstan;

for inclusion in the State Register of Normative Legal Acts of the Republic of Kazakhstan, the Reference Control Bank of Normative Legal Acts of the Republic of Kazakhstan within ten calendar days from the day of its state registration with the Ministry of Justice of the Republic of Kazakhstan;

3) posting of this resolution on the official internet resource of the National Bank of the Republic of Kazakhstan after its official publication.

4. The Department for the Protection of the Rights of Consumers of Financial Services and External Communications (Terentyev A.L.) shall ensure the sending of this resolution for official publication in periodical printed publications within ten calendar days after its state registration with the Ministry of Justice of the Republic of Kazakhstan.

5. Control over the execution of this resolution shall be entrusted to the Deputy Chairman of the National Bank of the Republic of Kazakhstan Pirmatov G.O.

6. This resolution shall enter into force upon the expiration of ten calendar days after the day of its first official publication.

Chairman of the National Bank
D. Akishev

Appendix
to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 210

List of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan, as well as structural elements of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan, recognized as having lost force

1. Resolution of the Board of the National Bank of the Republic of Kazakhstan of 25 November 2000 No. 428 «On approval of the Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations» (registered in the Register of State Registration of Normative Legal Acts under No. 1351, published in 2001 in the Bulletin of Normative Legal Acts of Central Executive and Other State Bodies of the Republic of Kazakhstan No. 2).

2. Resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 January 2003 No. 21 «On introducing amendments and additions to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 25 November 2000 No. 428 «On approval of the Rules for establishing correspondent relations between second-tier banks of the Republic of Kazakhstan, as well as between second-tier banks of the Republic of Kazakhstan and organizations carrying out certain types of banking operations», registered with the Ministry of Justice of the Republic of Kazakhstan under No. 1351» (registered in the Register of State Registration of Normative Legal Acts under No. 2200).

3. Resolution of the Board of the National Bank of the Republic of Kazakhstan of 22 July 2004 No. 99 «On introducing amendments and additions to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 25 November 2000 No. 428 «On approval of the Rules for establishing correspondent relations between second-tier banks of the Republic of Kazakhstan, as well as between second-tier banks of the Republic of Kazakhstan and organizations carrying out certain types of banking operations», registered with the Ministry of Justice of the Republic of Kazakhstan under No. 1351» (registered in the Register of State Registration of Normative Legal Acts under No. 3048, published on 16 September 2004 in the newspaper «Kazakhstanskaya Pravda» No. 209 (24519).

4. Resolution of the Board of the National Bank of the Republic of Kazakhstan of 29 December 2005 No. 177 «On introducing amendments and additions to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 25 November 2000 No. 428 «On approval of the Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations» (registered in the Register of State Registration of Normative Legal Acts under No. 4026).

5. Resolution of the Board of the National Bank of the Republic of Kazakhstan dated 25 June 2007 No. 64 "On introducing amendments and additions to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 25 November 2000 No. 428 'On approval of the Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations'" (registered in the Register of state registration of normative legal acts under No. 4829).

6. Item 6 of the List of normative legal acts of the National Bank of the Republic of Kazakhstan to which amendments are made, being an appendix to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 20 July 2007 No. 76 "On introducing amendments to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of identification numbers" (registered in the Register of state registration of normative legal acts under No. 4880, published in June-August 2007 in the Collection of acts of central executive and other central state bodies of the Republic of Kazakhstan).

7. Resolution of the Board of the National Bank of the Republic of Kazakhstan dated 29 March 2010 No. 15 "On introducing an amendment and additions to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 25 November 2000 No. 428 'On approval of the Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations'" (registered in the Register of state registration of normative legal acts under No. 6197).

8. Item 6 of the List of normative legal acts of the National Bank of the Republic of Kazakhstan to which amendments and additions are made, being an appendix to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 20 August 2010 No. 76 "On introducing amendments and additions to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of identification numbers" (registered in the Register of state registration of normative legal acts under No. 6534, published on 4 November 2010 in the newspaper "Kazakhstanskaya Pravda" No. 292 (26353).

9. Item 2 of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 27 September 2010 No. 78 "On introducing additions and amendments to certain resolutions of the Board of the National Bank of the Republic of Kazakhstan on issues of submitting information on payments and on recognizing as invalid certain resolutions of the Board of the National Bank of the Republic of Kazakhstan on issues of compiling and submitting a report on the distribution of payment turnover by methods of non-cash payments and money transfers" (registered in the Register of state registration of normative legal acts under No. 6607, published on 14 December 2010 in the newspaper "Kazakhstanskaya Pravda" No. 338 (26399).

10. Item 6 of the List of normative legal acts of the National Bank of the Republic of Kazakhstan to which amendments are made, being appendix 1 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 1 July 2011 No. 65 "On introducing amendments to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of identification numbers" (registered in the Register of state registration of normative legal acts under No. 7122, published on 15 September 2011 in the newspaper "Yuridicheskaya Gazeta" No. 133 (2123).

11. Item 7 of the Amendments to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of identification numbers, being appendix 1 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 26 March 2012 No. 108 "On introducing amendments to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of identification numbers" (registered in the Register of state registration of normative legal acts under No. 7625, published on 6 September 2012 in the newspaper "Kazakhstanskaya Pravda" No. 299-300 (27118-27119).

12. Item 3 of the List of normative legal acts of the National Bank of the Republic of Kazakhstan to which amendments and additions are made, being appendix 1 to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 22 October 2014 No. 200 "On introducing amendments and additions to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of making payments and money transfers, the procedure for opening, maintaining and closing bank accounts" (registered in the Register of state registration of normative legal acts under No. 9943, published on 30 December 2014 in the information and legal system "Әділет" of the republican state enterprise with the right of economic management "Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan").

13. Item 5 of the List of normative legal acts of the National Bank of the Republic of Kazakhstan on issues of payments and money transfers and maintaining bank accounts to which amendments are made, being an appendix to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 8 May 2015 No. 72 "On introducing amendments to certain normative legal acts of the National Bank of the Republic of Kazakhstan on issues of payments and money transfers and maintaining bank accounts" (registered in the Register of state registration of normative legal acts under No. 11163, published on 2 June 2015 in the information and legal system "Әділет" of the republican state enterprise with the right of economic management "Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan").

14. Paragraph 3 of the List of regulatory legal acts of the National Bank of the Republic of Kazakhstan on issues of payments and money transfers and maintaining bank accounts, to which amendments are made, which is an annex to the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 28 January 2016 No. 32 "On amendments to certain regulatory legal acts of the National Bank of the Republic of Kazakhstan on issues of payments and money transfers and maintaining bank accounts" (registered in the Register of state registration of regulatory legal acts under No. 13304, published on 14 March 2016 in the information and legal system "Әділет" of the republican state enterprise with the right of economic management "Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan").

Approved by resolution of the Board of the National Bank of the Republic of Kazakhstan dated 31 August 2016 No. 210

Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations

Chapter 1. General provisions

Paragraph 1 was amended in accordance with resolution of the Board of the National Bank of the Republic of Kazakhstan dated 22.12.17 No. 248 (see previous version)

1. These Rules for establishing correspondent relations between banks, as well as between banks and organizations carrying out certain types of banking operations (hereinafter - the Rules) have been developed in accordance with the laws of the Republic of Kazakhstan dated 30 March 1995 "On the National Bank of the Republic of Kazakhstan", dated 26 July 2016 "On payments and payment systems" (hereinafter - the Law on payments and payment systems) and determine the procedure for establishing correspondent relations between banks (hereinafter - banks), as well as between banks and organizations carrying out certain types of banking operations (hereinafter - non-bank organizations), with the exception of the National Bank of the Republic of Kazakhstan (hereinafter - the National Bank) and non-resident banks of the Republic of Kazakhstan.

The procedure for establishing correspondent relations between banks, as well as between banks and non-bank organizations includes the opening, maintaining and closing of correspondent accounts of banks and non-bank organizations in the national currency, calculation of the limit of payments and (or) money transfers on correspondent accounts of banks and non-bank organizations in the national currency.

2. The Rules use the concepts provided for by the Law of the Republic of Kazakhstan dated 28 August 2009 "On countering the legalization (laundering) of proceeds from crime and the financing of terrorism" (hereinafter - the Law on AML/CFT), the Law on payments and payment systems, as well as the following concepts:

1) correspondent - a bank and (or) non-bank organization that has opened a correspondent account with itself for another bank and (or) non-bank organization (loro account);

2) respondent - a bank and (or) non-bank organization that has opened a correspondent account with another bank and (or) non-bank organization (nostro account).

3. The opening and maintaining of correspondent accounts of banks and non-bank organizations are carried out by banks and non-bank organizations that have a license of the National Bank to open and maintain correspondent accounts of banks and non-bank organizations, except in cases of carrying out banking operations without a license of the National Bank in accordance with the Law of the Republic of Kazakhstan dated 31 August 1995 "On banks and banking activity in the Republic of Kazakhstan" (hereinafter - the Law on banks and banking activity).

Chapter 2. Opening of correspondent accounts

4. The correspondent opens a correspondent account for the respondent on the basis of a correspondent account agreement concluded between them.

5. The correspondent account agreement contains the following:

1) business identification number of the respondent and the correspondent;

2) individual identification code of the respondent;

3) terms of provision of services by the correspondent and the procedure for their payment;

4) procedure for disposing of the respondent's money;

5) procedure for transmitting payment documents and methods of exchanging information on payments and (or) money transfers;

6) procedure for the correspondent to provide the respondent with financial statements: accounting balance sheet, profit and loss statement, cash flow statement, statement of changes in equity, explanatory note, on the basis of which the respondent analyzes the financial condition of the correspondent.

Paragraph 6 was amended in accordance with resolution of the Board of the National Bank of the Republic of Kazakhstan dated 22.12.17 No. 248 (see previous version)

6. To open a correspondent account, the respondent submits to the correspondent the documents provided for by the Rules for opening, maintaining and closing bank accounts of clients, approved by resolution of the Board of the National Bank of the Republic of Kazakhstan dated 31 August 2016 No. 207, registered in the Register of state registration of regulatory legal acts under No. 14422, as well as the following documents:

1) for banks - a notarized copy of the license to conduct banking operations;

2) for non-bank organizations, with the exception of credit partnerships - a notarized copy of the license to conduct transfer operations, except in cases of carrying out banking operations without a license of the National Bank in accordance with the Law on banks and banking activity.

7. The opening of a correspondent account for the respondent is carried out by the correspondent after taking measures for proper verification of clients (their representatives) and beneficial owners in accordance with the Law on AML/CFT.

8. The respondent, within five working days from the day of opening the correspondent account, submits to the National Bank information on the opening of the correspondent account in the form according to the annex to the Rules.

Chapter 3. Maintaining of correspondent accounts

9. The correspondent carries out banking operations on the respondent's correspondent account in accordance with the correspondent account agreement.

10. After the completion of the operational day, the correspondent shall provide the respondent with a statement of the movement of money on the correspondent account in the manner and within the timeframes determined by the correspondent account agreement.

Chapter 4. Closure of Correspondent Accounts

Paragraph 11 was amended in accordance with the resolution of the Board of the National Bank of the RK dated 27.08.18 No. 182 (see the old version)

11. Closure of a correspondent account is carried out:

1) upon the written application of the respondent at any time, unless otherwise provided by the Code of the Republic of Kazakhstan dated 25 December 2017 "On Taxes and Other Mandatory Payments to the Budget" (Tax Code), the Law on Payments and Payment Systems and (or) the correspondent account agreement;

2) upon termination of the correspondent account agreement;

3) upon termination of the correspondent's license to open and maintain correspondent accounts;

4) upon termination of the respondent's license to conduct banking operations, if it is a bank;

5) upon termination of the respondent's license to conduct transfer operations, if it is a non-bank organization.

12. The respondent, within five business days from the day of closure of the correspondent account, shall send to the National Bank a letter in free written form indicating the date of closure of the correspondent account.

Chapter 5. Calculation of the limit of payments and (or) money transfers on correspondent accounts of banks and non-bank organizations

Paragraph 13 is set out in the wording of the resolution of the Board of the National Bank of the RK dated 22.12.17 No. 248 (see the old version)

13. A bank and (or) a non-bank organization shall, in the current month, carry out payments and (or) money transfers on operations of the bank or non-bank organization and their clients through correspondent accounts, with the exception of operations provided for by paragraph 16 of the Rules, in volumes not exceeding the size of the limit of payments and money transfers on correspondent accounts of banks and organizations carrying out certain types of banking operations, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 31 August 2016 No. 206, registered in the Register of State Registration of Normative Legal Acts under No. 14304.

14. The limit established for a bank and (or) a non-bank organization is calculated as a percentage of their total volume of outgoing non-cash payments made in the previous month through the interbank money transfer system and the interbank clearing system, minus the amount of the debit net position based on the results of clearing in the interbank clearing system.

15. The requirement to comply with the limit does not apply to non-bank organizations that are not participants of the interbank money transfer system and (or) the interbank clearing system.

16. The limit expenditure does not include the volume of payments and money transfers for the following types of operations:

1) transfer of money to correspondent accounts (from correspondent accounts) through the interbank money transfer system or the interbank clearing system;

2) operations for the offsetting of mutual claims on "loro" and "nostro" correspondent accounts in one bank or non-bank organization;

3) operations on exchange transactions carried out by banks and non-bank organizations through correspondent accounts opened with the central depository;

4) transfer of money carried out between bank accounts of a parent bank and a subsidiary bank in respect of which restructuring has been carried out in accordance with the Law on Banks and Banking Activity, as well as between bank accounts of a merging bank and the bank to which the merger is carried out in accordance with the Law on Banks and Banking Activity.

Appendix
to the Rules for Establishing
Correspondent Relations between
Banks, as well as Banks and
Organizations Carrying Out
Certain Types of Banking Operations

Form

National Bank of the Republic of Kazakhstan

Information on the opening of a correspondent account

Name of the bank and (or) organization carrying out certain types of banking operations (respondent) ____________________________________________________________________

Name of the correspondent

---

Procedure for conducting payments and (or) money transfers:

1. Conducting payments and (or) money transfers is carried out by crediting money to:

• Nostro account

• Loro account

2. The correspondent account is opened for conducting:

• client payments

• bank payments

• settlements on payment cards

• operations of the bank with cash money (crediting, withdrawal)

• other payments and (or) money transfers

---

3. Balance at the end of the operational day:

• equal to zero

• non-reducible balance level is provided for by the correspondent account agreement

• changing balance level, independent of the terms of the correspondent account agreement

Date of opening of the correspondent account "___" ______________ 20 __ year

Head ___________________________________

---

(position, surname, name, patronymic
(signature)
(if available))

Chief Accountant _______________________________ _________________ (position, surname, name, patronymic (signature) (if any))