Resolution of the Board of the National Bank

of the Kyrgyz Republic

of 25 October 2017
No. 2017-П-07\45-4-(ДКП)

On the amount of the fine for non-compliance with mandatory reserve requirements

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 Activities", the Board of the National Bank of the Kyrgyz Republic resolves:

• 1. To establish the amount of the fine for non-compliance with mandatory reserve requirements for a commercial bank in the amount of three times the average discount rate of the National Bank of the Kyrgyz Republic for the base period.

• 2. To recognize as no longer in force paragraph 3 of the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On Mandatory Reserves'" of 19 March 2010 No. 8/2.

• 3. To the Legal Department:

  • 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.

• 4. To the Economic Department to bring this resolution to the attention of commercial banks.

• 5. This resolution enters into force on the day of official publication.

• 6. To assign control over the execution of this resolution to the Deputy Chairman of the National Bank of the Kyrgyz Republic N. Zhenish.

Chairman K. Kulmatov