Resolution of the Board of the National Bank

of the Kyrgyz Republic of 14 November 2014. No. 50/1

On the daily minimum level of required reserves of banks

In accordance with Articles 7, 22 and 43 of the 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 establish that the amount of funds in the correspondent account of each commercial bank with the National Bank for fulfilling required reserve requirements on a daily basis must be not less than 80.0 percent of the volume of the bank's required reserves established for the corresponding period.
• 2. Item 2 of the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic On Approval of the Regulation 'On Required Reserves' of 19 March 2010 No. 8/2" of 23 April 2014 No. 16/5 shall be recognized as having lost force.
• 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: bring this resolution to the attention of structural subdivisions and commercial banks.
• 5. This resolution enters into force on 18 November 2014.
• 6. To entrust control over the execution of this resolution to the Deputy Chairman of the National Bank of the Kyrgyz Republic, Zhenish N.

For the Chairman
Deputy Chairman Zhenish N.