Regulations on the Ratio, Calculation and Maintenance of Required Reserves

‘Approved’
Central Bank of the Republic of Azerbaijan
Resolution № 16/1
10 July 2012
Governor

Elman Rustamov
Regulations on the ratio, calculation and maintaining required reserves

General provisions
1.1. These Regulations have been developed in accordance with Articles 29 and 32 of the Law
of the Republic of Azerbaijan on the Central Bank of the Republic of Azerbaijan and determine a procedure for the ratio, calculation and maintaining required reserves for the banks and local branches of foreign banks operating in the Republic of Azerbaijan (hereinafter – banks).
1.2. The definitions used herein bear the following meanings:
1.2.1. required reserves – a monetary policy tool used by the Central Bank of the Republic of
Azerbaijan (hereinafter – the Central Bank) in regulation of money supply and banking system liquidity.
1.2.2. reserve requirement ratio – an interest indicator used in calculation of bank’s required
reserves that represents a certain part of the calculation base.
1.2.3. calculation base – bank’s liabilities in national and foreign currencies, precious metals considered
in calculation of required reserves.
1.2.4. calculation period – the period that covers the days required reserves are calculated for
and the calculation base relates to.
1.2.5. maintenance period – the period covering the days of maintaining required reserves
calculated on the basis of the calculation base of the last accounting period.
1.2.6. linked deposits – bank deposits related to one of the following groups:
1.2.6.1. several deposits owned by one individual.
1.2.6.2. several deposits owned by one legal entity.
1.2.6.3. deposits of a legal entity and legal persons or individuals holding a controlling interest in it.
1.2.6.4. deposits of two or more legal entities owned by the same person who is not the bank’s depositor.
1.2.6.5. deposits of any depositor who has a loan in the bank, as well as deposits of individuals jointly or
subsidiarily liable for that loan (e.g., guarantors).
1.2.6.6. deposits of two or more persons who pledge the same collateral for their loans in the bank.
1.2.6.7. deposits of all legal entities owned by the state holding a controlling interest.
1.2.7. For the purposes of these Regulations, ‘controlling interest’ is defined as a participation share of
51% or more in the charter capital of a legal entity, and ‘a related party’ is defined as individuals specified in the Law of the Republic of Azerbaijan ‘on Banks.’
1.3. The reserve requirement ratio is set either the same across all deposits, or differently
depending on the deposits’ type, maturity, currency or the size of the calculation base.
Reserve requirement ratio and its calculation
2.1. The reserve requirement ratio is determined as a percentage of liabilities.
2.2. Depending the share of linked deposits in total deposits (both in national and foreign currency for
legal entities and individuals), the share of related party deposits in total deposits (both in national and foreign currency for legal entities and individuals), and whether total amount of national currency denominated deposits of legal entities exceeds AZN1B and total amount foreign currency denominated deposits of legal entities exceeds AZN750M equivalent, the reserve requirement ratio is determined by the Management Board of the Central Bank differentiated as follows:
2.2.1. attracted in the national currency:
2.2.1.1. on deposits of individuals and unincorporated individuals (hereinafter – private entrepreneurs).
2.2.1.2. on deposits of legal entities.
2.2.2. attracted in foreign currency:
2.2.2.1. on deposits of individuals and private entrepreneurs.
2.2.2.2. on deposits of legal entities.
2.2.3. on deposits attracted in precious metals.
2.2.4. due to the non-resident financial sector and settlements with international financial institutions:
2.2.4.1. on liabilities and settlements in manat.
2.2.4.2. liabilities and settlements in foreign currency.
2.2.4.3.on liabilities in precious metals.
2.3. A decision on reserve requirement and cancellation of the reserve requirement takes effect from the
date defined by the Management Board of the Central Bank and banks are informed officially to that end.
2.4. A decision on cancellation or reduction of the reserve requirement ratio takes effect on the
date set by the Management Board of the Central Bank and banks are officially informed about it.
2.5. Required reserves are calculated on the basis of the average daily balance of the bank's
calculation base for the calculation period (Annex 1). The share of linked deposits in total deposits (both in national and foreign currency for legal entities and individuals) and the share of related party deposits in total deposits (both in national and foreign currency for legal entities and individuals) is calculated based on average daily balance of the calculation period and included to the required reserve report. 2.5-1. When related deposits belong to several groups, the share of the group with the highest total amount should be taken and included in the report. 2.5-2. When calculating the share of related party deposits in total deposits (both in national and foreign currency for legal entities and individuals), all related parties should be considered collectively. 2.5-3. When deposits simultaneously belong to a related party and linked deposits, they should be considered in both the calculation of the share of linked deposits in total deposits and the calculation of the share of related party deposits in total deposits. 2.5-4. When calculating the share of linked deposits in total deposits (both in national and foreign currency for legal entities and individuals) and the share of related party deposits in total deposits (both in national and foreign currency for legal entities and individuals) the following deposits are not considered in linked and related party deposits:
2.5-4.1. deposits of financial institutions, including accounts of banks’ subsidiary financial institutions. 2.5-4.2. loro accounts. 2.5-4.3. deposits attracted as subordinated debt liabilities.
2.6. Required reserves on foreign currency and precious metals are calculated at an official
exchange rate of manat set by the Central Bank as of the last work day of the calculation period.

2.7. The calculation period begins on the first and ends on the last calendar day of each month.
2.8. When a bank is reorganized in line with the reorganization form required reserves for the
reorganized bank(s) are re-calculated on the basis of the bank’s (s’) calculation.
2.9. The Bank should submit a report on required reserves (Annex 2) to the Central Bank within
5 (five) work days after the calculation period.
2.10. Required reserves for the next maintenance period are determined with the said report.
2.11. Deposits in the balance of the bank outside the Republic of Azerbaijan are not included
to the calculation base.
3. Maintaining required reserves
3.1. Required reserves are maintained in the bank’s correspondent account with the Central
Bank.
3.2. The maintenance period begins on the 15th calendar day of the month following the end
of the calculation period and lasts until the 14th calendar day of the following month.
3.3. Average daily balance of the correspondent account for the maintenance period should
not be less than required reserves calculated on the basis of the calculation base covering the last calculation period.
3.4. The balance of correspondent accounts for non-work days over the maintenance period is
taken into account in the amount of the balance of the previous work day.
3.5. The Bank should maintain required reserves on deposits in the national currency and precious
metals included to the calculation base in correspondent accounts in the manat with the Central Bank, and on deposits in foreign currency in correspondent accounts with the Central Bank in the USD.
3.6. If the rule of calculation or maintenance of required reserves is violated during the maintenance
period, a financial sanction is imposed on the bank for unmet amount of required reserves in accordance with
Article 32 of the Law of the Republic of Azerbaijan ‘on the Central Bank of the Republic of Azerbaijan’ and
the financial sanction amount is deducted from the bank’s correspondent account(s) with the Central Bank.
3.7. If average daily balance of the bank's correspondent account for the maintenance period
is less than AZN2000 (two thousand) or equivalent than required reserves calculated for that maintenance period, average daily balance of the bank's correspondent account for the next maintenance period should be kept in excess as much as that amount. This situation is not allowed to be repeated in one calendar year.
3.8. Every bank should appoint an officer responsible for maintaining required reserves and
deliver written information on that person (1st, last and middle names, position with the bank and contact requisites) to the Central Bank. In case the officer responsible for maintaining required reserves changes, the bank should deliver the above information on the new officer to the Central bank within 3 (three) work days.
3.9. To maintain macroeconomic stability, resilience and sustainability of financial markets, when the
Management Board of the Central Bank takes a decision on payment of interest on required reserves, all credit institutions are notified accordingly. The interest is paid within the period specified in the decision of the Management Board and applies to all credit institutions that maintain reserve requirements.

Annex № 1 to the Regulations on the ratio, calculation and maintaining
required reserves
Liabilities
Balance accounts
1 Due to the non-resident financial sector
35215, 35218, 35265, 35268, 35295, 35298, 35325, 35328, 35375, 35378, 35405, 35408, 35435, 35438, 35485, 35488, 35515, 35518, 35545, 35548, 35595, 35598, 35625, 35628, 35715, 35718, 35755, 35758, 35775, 35778, 35931, 35933, 35939 in manat in foreign currency 35225, 35228, 35240, 35243, 35275, 35278, 35305, 35308, 35335, 35338, 35350, 35353, 35385, 35388, 35415, 35418, 35445, 35448, 35460, 35463, 35495, 35498, 35525, 35528, 35555, 35558, 35570, 35573, 35605, 35608, 35635, 35638, 35725, 35728, 35740, 35743, 35765, 35768, 35785, 35788, 35941, 35943, 35949 in precious metals 35235, 35238, 35250, 35253, 35285, 35288, 35315, 35318, 35345, 35348, 35360, 35363, 35395, 35398, 35425, 35428, 35455, 35458, 35470, 35473, 35505, 35508, 35535, 35538, 35565, 35568, 35580, 35583, 35615, 35618, 35645, 35648, 35951, 35953, 35959 2 Due to budget organizations and state funds 36010, 36015, 36040, 36045, 36110, 36113, 36115, 36140, 36143, 36145, 36148, 36310, 36313, 36315, 36318, 36340, 36343, 36345, 36348, 36930, 36931, 36932, 36933 in manat in foreign currency 36020, 36025, 36050, 36055, 36120, 36123, 36125, 36150, 36153, 36155, 36158, 36320, 36323, 36325, 36328, 36350, 36353, 36355, 36358, 36940, 36941, 36942, 36943 in precious metals 36030, 36035, 36060, 36065, 36130, 36133, 36135, 36138, 36160, 36163, 36165, 36168, 36330, 36333, 36335, 36338, 36360, 36363, 36365, 36368, 36950, 36951, 36952, 36953 3 Settlements with international financial institutions 37042 in manat in foreign currency 37053, 37054 in precious metals 37063, 37064 4 Due to state owned legal entities 38010, 38020, 38030, 38040, 38050, 38060, 38070, 38080, 38090, 38310, 38320, 38330, 38340, 38350, 38360, 38363, 38370, 38373, 38380, 38383, 38390,

38393, 38610,38613, 38620, 38623, 38630, 38633, 38640, 38643, 38650, 38653, 38660, 38663, 38670, 38673, 38680, 38683, 38690, 38693, 38931, 38932, 38933, 38934, 38935, 38936, 38937, 38938, 38939 in manat in foreign currency 38110, 38120, 38130, 38140, 38150, 38160, 38170, 38180, 38190, 38410, 38413, 38420, 38423, 38430, 38433, 38440, 38443, 38450, 38453, 38460, 38463, 38470, 38473, 38480, 38483, 38490, 38493, 38710, 38713, 38720, 38723, 38730, 38733, 38740, 38743, 38750, 38753, 38760, 38763, 38770, 38773, 38780, 38783, 38790, 38793, 38941, 38942, 38943, 38944, 38945, 38946, 38947, 38948, 38949 in precious metals 38210, 38220, 38230, 38240, 38250, 38260, 38270, 38280, 38290, 38510, 35813, 38520, 35823, 38530, 35833, 38540, 35843, 38550, 35853, 38560, 35863, 38570, 35873, 38580, 35883, 38590, 35893, 38810, 38813, 38820, 38823, 38830, 38833, 38840, 38843, 38850, 38853, 38860, 38863, 38870, 38873, 38880, 38883, 38890, 38893, 38951, 38952, 38953, 38954, 38955, 38956, 38957, 38958, 38959 5 Due to official offices of foreign states 39010, 39040, 39070, 39100, 39103, 39130, 39133, 39160, 39163, 39190, 39220, 39250, 39930, 39931, 39939 in manat in foreign currency 39020, 39050, 39080, 39110, 39113, 39140, 39143, 39170, 39200, 39230, 39260, 39940, 39941, 39949 in precious metals 39030, 39060, 39090, 39120, 39123, 39150, 39153, 39180, 39210, 39240, 39270, 39950, 39951, 39959 6 Due to non-state owned legal entities 40010, 40015, 40020, 40025, 40030, 40035, 40040, 40045, 40050, 40055, 40060, 40065, 40070, 40075, 40080, 40085, 40090, 40095, 40310, 40315, 40318, 40320, 40323, 40325, 40328, 40330, 40333, 40335, 40338, 40340, 40343, 40345, 40448, 40350, 40353, 40355, 40358, 40360, 40363, 40365, 40368, 40370, 40373, 40375, 40378, 40380, 40383, 40385, 40388, 40390, 40393, 40395, 40398, 40610, 40613, 40615, 40618, 40620, 40623, 40625, 40628, 40630, 40633, 40635, 40638, 40640, 40643, 40645, 40648, 40650, 40653, 40655, 40658, 40660, 40663, 40665, 40668, 40670, 40673, 40675, 40678, 40680, 40683, 40685, 40688, 40690, 40693, 40695, 40698, 40930, 40931, 40932, 40933, 40934, 40935, 40936, 40937, 40939 in manat

in foreign currency 40110, 40115, 40120, 40125, 40130, 40135, 40140, 40145, 40150, 40155, 40160, 40165, 40170, 40175, 40180, 40185, 40190, 40195, 40410, 40415, 40420, 40423, 40425, 40428, 40430, 40433, 40435, 40438, 40440, 40443, 40445, 40448, 40450, 40453, 40455, 40458, 40460, 40463, 40465, 40468, 40470, 40473, 40475, 40478, 40480, 40483, 40485, 40488, 40490, 40493, 40495, 40498, 40710, 40713, 40715, 40718, 40720, 40723, 40725, 40728, 40730, 40733, 40735, 40738, 40740, 40743, 40745, 40748, 40750, 40753, 40755, 40758, 40760, 40763, 40765, 40768, 40770, 40773, 40775, 40778, 40780, 40783, 40785, 40788, 40790, 40793, 40795, 40798, 40940, 40941, 40942, 40943, 40944, 40945, 40946, 40947, 40949 in precious metals 40210, 40215, 40220, 40225, 40230, 40235, 40240, 40245, 40250, 40255, 40260, 40265, 40270, 40275, 40280, 40285, 40290, 40295, 40510, 40513, 40515, 40518, 40520, 40523, 40525, 40528, 40530, 40533, 40535, 40538, 40540, 40543, 40545, 40588, 40550, 40553, 40555, 40558, 40560, 40563, 40565, 40568, 40570, 40573, 40575, 40578, 40580, 40583, 40585, 40588, 40590, 40593, 40595, 40598, 40810, 40813, 40815, 40818, 40820, 40823, 40825, 40828, 40830, 40833, 40835, 40838, 40840, 40843, 40845, 40848, 40850, 40853, 40855, 40858, 40860, 40863, 40865, 40868, 40870, 40873, 40875, 40878, 40880, 40883, 40885, 40888, 40890, 40893, 40895, 40898, 40950, 40951, 40952, 40953, 40954, 40955, 40956, 40957, 40959 7 Due to individuals and private entrepreneurs 41010, 41015, 41040, 41045, 41110, 41113, 41115, 41118, 41210, 41213, 41215, 41218, 41930, 41931, 41932, 41933 in manat in foreign currency 41020, 41025, 41050, 41055, 41120, 41123, 41125, 41128, 41220, 41223, 41225, 41228, 41940, 41941, 41942, 41943 in precious metals 41030, 41035, 41060, 41065, 41130, 41133, 41135, 41138, 41230, 41233, 41235, 41238, 41950, 41951, 41952, 41953 8 Debt securities issued 42010, 42013, 42030, 42033, 42050, 42053, 42070, 42073, 42110, 42113 in manat in foreign currency 42020, 42023, 42040, 42043, 42060, 42063, 42080, 42083, 42120, 42123 9 Other liabilities 45011, 45012, 45079, 45270 in manat in foreign currency 45021, 45022, 45089, 45280 in precious metals 45290

Annex № 2 to the Regulations on the ratio,
calculation and maintaining required reserves
Bank name:
Reporting date:
Table 1 (manat)
Liabilities
Balance accounts
Balance on balance accounts
Total
Day 1 Day 2 ...
Last calendar day of the month

Due to
budget organizations and state funds
36010
36015
36040
36045
36110
36113
36115
36140
36143
36145
36148
36310
36313
36315
36318
36340
36343
36345
36348
36930
36931
36932
36933

in manat, Total
36020
36025
36050
36055
36120
36123
36125
2. Due to 36150
budget organizations 36153 and state funds 36155 36158 36320 36323 36325 36328 36350 36353 36355 36358 36940 36941 36942 36943 in foreign currency, Total 36030
3. Due to 36035
budget organizations 36060 and state
36065 funds
36130
36133

36135
36138
36160
36163
36165
36168
36330
36333
36335
36338
36360
36363
36365
36368
36950
36951
36952
36953 in precious metals, Total
4. Due to
state-owned legal entities
38010
38020
38030
38040
38050
38060
38070
38080
38090
38310
38320
38330
38340
38350
38360
38363
38370
38373
38380

38383
38390
38393
38610
38613
38620
38623
38630
38633
38640
38643
38650
38653
38660
38663
38670
38673
38680
38683
38690
38693
38931
38932
38933
38934
38935
38936
38937
38938
38939 in manat, Total
38110
38120
38130
38140
38150
38160
38170

Due to
stateowned legal entities
38180
38190
38410
38413
38420
38423
38430
38433
38440
38443
38450
38453
38460
38463
38470
38473
38480
38483
38490
38493
38710
38713
38720
38723
38730
38733
38740
38743
38750
38753
38760
38763
38770
38773
38780
38783
38790
38793

38941
38942
38943
38944
38945
38946
38947
38948
38949 in foreign currency, Total
6. Due to
stateowned legal entities
38210
38220
38230
38240
38250
38260
38270
38280
38290
38510
38513
38520
38523
38530
38533
38540
38543
38550
38553
38560
38563
38570
38573
38580
38583
38590
38593
38810

38813
38820
38823
38830
38833
38840
38843
38850
38853
38860
38863
38870
38873
38880
38883
38890
38893
38951
38952
38953
38954
38955
38956
38957
38958
38959 in precious metals, Total
7. Due to
official offices of foreign states
39010
39040
39070
39100
39103
39130
39133
39160
39163
39190
39220

39250
39930
39931
39939 in manat, Total
8. Due to
39020
39050
39080 official offices of foreign states
39110
39113
39140
39143
39170
39200
39230
39260
39940
39941
39949 in foreign currency, Total
9. Due to
official offices of foreign states
39030
39060
39090
39120
39123
39150
39153
39180
39210
39240
39270
39950
39951
39959 in precious metals, Total
40010
40015
40020

Due to
non-stateowned legal entities
40025
40030
40035
40040
40045
40050
40055
40060
40065
40070
40075
40080
40085
40090
40095
40310
40315
40318
40320
40323
40325
40328
40330
40333
40335
40338
40340
40343
40345
40348
40350
40353
40355
40358
40360
40363
40365
40368

40370
40373
40375
40378
40380
40383
40385
40388
40390
40393
40395
40398
40610
40613
40615
40618
40620
40623
40625
40628
40630
40633
40635
40638
40640
40643
40645
40648
40650
40653
40655
40658
40660
40663
40665
40668
40670
40673

40675
40678
40680
40683
40685
40688
40690
40693
40695
40698
40930
40931
40932
40933
40934
40935
40936
40937
40939 in manat, Total
11. Due to nonstate-owned
legal entities
40110
40115
40120
40125
40130
40135
40140
40145
40150
40155
40160
40165
40170
40175
40180
40185
40190
40195

40410
40415
40420
40423
40425
40428
40430
40433
40435
40438
40440
40443
40445
40448
40450
40453
40455
40458
40460
40463
40465
40468
40470
40473
40475
40478
40480
40483
40485
40488
40490
40493
40495
40498
40710
40713
40715
40718

40720
40723
40725
40728
40730
40733
40735
40738
40740
40743
40745
40748
40750
40753
40755
40758
40760
40763
40765
40768
40770
40773
40775
40778
40780
40783
40785
40788
40790
40793
40795
40798
40940
40941
40942
40943
40944
40945

40946
40947
40949 in foreign currency, Total
40210
40215
40220
12. Due to nonstate-owned
legal entities
40225
40230
40235
40240
40245
40250
40255
40260
40265
40270
40275
40280
40285
40290
40295
40510
40513
40515
40518
40520
40523
40525
40528
40530
40533
40535
40538
40540
40543
40545
40548

40550
40553
40555
40558
40560
40563
40565
40568
40570
40573
40575
40578
40580
40583
40585
40588
40590
40593
40595
40598
40810
40813
40815
40818
40820
40823
40825
40828
40830
40833
40835
40838
40840
40843
40845
40848
40850
40853

40855
40858
40860
40863
40865
40868
40870
40873
40875
40878
40880
40883
40885
40888
40890
40893
40895
40898
40950
40951
40952
40953
40954
40955
40956
40957
40959 in precious metals, Total
13. Due to
individuals and private entreprene
41010
41015
41040
41045
41110
41113
41115
41118
41210
41213

urs 41215
41218
41930
41931
41932
41933 in manat, Total
14. Due to
individuals and private entrepreneur s
41020
41025
41050
41055
41120
41123
41125
41128
41220
41223
41225
41228
41940
41941
41942
41943 in foreign currency, Total
15. Due to
individuals and private entrepreneur s
41030
41035
41060
41065
41130
41133
41135
41138
41230
41233
41235
41238
41950
41951

41952
41953 in precious metals, Total
16. Debt
42010
42013
42030 securities issued
42033
42050
42053
42070
42073
42110
42113 in manat, Total
17. Debt
securities issued
42020
42023
42040
42043
42060
42063
42080
42083
42120
42123 in foreign currency, Total
18. Other
liabilities
45011
45012
45079
45270 in manat, Total
19. Other
liabilities
45021
45022
45089
45280 in foreign currency, Total
20. Other
liabilities
45290

in precious metals, Total
21. Deposits of legal entities
attracted in the national currency, total (rows 1+4+7+10+16+18)

Deposits of individuals and
private entrepreneurs attracted in the national currency, total (row 13)
Deposits of legal entities
attracted in foreign currency, total
(rows 2+5+8+11+17+19)
Deposits of individuals and
private entrepreneurs attracted in foreign currency, total (row 14)
in precious metals, total
(Row 3+6+9+12+15+20)
The share of linked deposits
in total deposits, %
The share of related party
deposits in total deposits, %
Reserve requirements (in manat)
Reserve requirements (in foreign
currency)
Reserve requirements (in precious metals)

The reserve requirement
Deposits of legal entities≤1 billion
(750 million),
Share of linked deposits in total deposits≤
L1,
Share of related party deposits in total deposits≤ L2 Deposits of legal entities≤1 billion (750 million), Share of linked deposits in total deposits> L1, Share of related party deposits in total deposits≤ L2 Deposits of legal entities≤1 billion (750 million), Share of linked deposits in total deposits≤L 1, Share of related party deposits in total deposits>L 2 Deposits of legal entities≤1 billion (750 million), Share of linked deposits in total deposits>L 1, Share of related party deposits in total deposits>L 2 Deposits of legal entities>1 billion (750 million), Share of linked deposits in total deposits≤L 1, Share of related party deposits in total deposits≤L 2 Deposits of legal entities>1 billion (750 million), Share of linked deposits in total deposits>L 1, Share of related party deposits in total deposits≤L 2 Deposits of legal entities>1 billion (750 million), Share of linked deposits in total deposits≤L 1, Share of related party deposits in total deposits>L 2 Deposits of legal entities>1 billion (750 million), Share of linked deposits in total deposits>L 1, Share of related party deposits in total deposits>L 2 Nationa l currenc y MEN1 MEN2 MEN3 MEN4 MEN5 MEN6 MEN7 MEN8 Foreign currenc y MEN9 MEN10 MEN11 MEN12 MEN13 MEN14 MEN15 MEN16 Precious metals MENqm1 MENqm2 MENqm3 MENqm4 MENqm5 MENqm6 MENqm7 MENqm8
Table 2 (manat)
Liabilities Balance accounts
Balance on balance accounts
Total Day 1 Day 2 ...
Last calendar day of the month
35215

Due to
the nonresident financial sector
35218
35265
35268
35295
35298
35325
35328
35375
35378
35405
35408
35435
35438
35485
35488
35515
35518
35545
35548
35595
35598
35625
35628
35715
35718
35755
35758
35775
35778
35931
35933
35939 in manat, Total
35225
35228
35240
35243
35275
Due to
the nonresident financial sector
35278
35305
35308
35335
35338
35350
35353
35385
35388
35415
35418
35445
35448
35460
35463
35495
35498
35525
35528
35555
35558
35570
35573
35605
35608
35635
35638
35725
35728
35740
35743
35765
35768
35785
35788
35941
35943
35949

in foreign currency, Total
3. Due to
the nonresident financial sector
35235
35238
35250
35253
35285
35288
35315
35318
35345
35348
35360
35363
35395
35398
35425
35428
35455
35458
35470
35473
35505
35508
35535
35538
35565
35568
35580
35583
35615
35618
35645
35648
35951
35953
35959 in precious metals, Total

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri
4. Settlements
with international financial institutions
37042 in manat, Total
5. Settlements
with international financial institutions
37053
37054 in foreign currency, Total
6. Settlements
with international financial institutions
37063
37064 in precious metals, Total
7. Total, in manat (Row 1+4)
8. Total, in foreign currency (Row
2+5)
9. Total, in precious metals
(Row 3+6)
10. Reserve requirements (in manat)
11. Reserve requirements (in foreign currency)
12. Reserve requirements (in precious metals)
Table 3
Total Reserve requirements (in manat)
Total Reserve requirements (in foreign currency) Total Reserve requirements (in precious metals) CEO:
Chief accountant:
Date:

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri Notes to Table 1:

Balance of each balance account is recorded in the column of the relevant day.
2.The total column includes the sum of daily balances of balance accounts in the reporting month (excluding Rows 26 and 27). 3.The total column of Rows 26 and 27specifies the average daily figure for the month.
Balances of balance accounts shown below should be calculated as follows:
in manat:
Balance of account 25011 should be deducted from the balance of account 45011. Balance of account 25012 should be deducted from the balance of account 45012. Balance of account 25079 should be deducted from the balance of account 45079. Balance of account 25270 should be deducted from the balance of account 45270. in foreign currency:
Balance of account 25021 should be deducted from the balance of account 45021. Balance of account 25022 should be deducted from the balance of account 45022. Balance of account 25089 should be deducted from the balance of account 45089. Balance of account 25280 should be deducted from the balance of account 45280. in precious metals:
Balance of account 25290 should be deducted from the balance of account 45290.
Balances for non-working days are taken in the amount of the previous working day.
L1- Limit set by the Central Bank on the share of linked deposits in total deposits (on legal entities
and individuals in national and foreign currencies).
L2- Limit set by the Central Bank on the share of related party deposits in total deposits (on legal
entities and individuals in national and foreign currencies).
Required reserves to be maintained with the Central Bank are calculated as follows:
in manat:
Total of Row 21 (≤1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (≤ L2):
ME1=
Total of Row 21 + Total of Row 22
*MEN1 the number of days in the reporting period Total of Row 21 (≤1 bln.), Total of Row 26 (> L1) and Total of Row 27 (≤ L2):
ME2=
Total of Row 21 + Total of Row 22
*MEN2 the number of days in the reporting period Total of Row 21 (≤1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (>L2):
ME3=
Total of Row 21 + Total of Row 22
*MEN3 the number of days in the reporting period Total of Row 21 (≤1 bln.), Total of Row 26 (> L1) and Total of Row 27 (>L2):
ME4=
Total of Row 21 + Total of Row 22
*MEN4 the number of days in the reporting period

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri Total of Row 21 (>1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (≤ L2):
ME5=
Total of Row 21 + Total of Row 22
*MEN5 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (> L1) and Total of Row 27 (≤ L2):
ME6=
Total of Row 21 + Total of Row 22
*MEN6 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (>L2):
ME7=
Total of Row 21 + Total of Row 22
*MEN7 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (> L1) and Total of Row 27 (>L2):
ME8=
Total of Row 21 + Total of Row 22
*MEN8 the number of days in the reporting period In foreign currency:
Total of Row 23 (≤750 mln.), Total of Row 26 (≤ L1) and Total of Row 27 (≤ L2):
ME9=
Total of Row 23 + Total of Row 24
*MEN9 the number of days in the reporting period Total of Row 23 (≤750 mln.), Total of Row 26 (> L1) and Total of Row 27 (≤ L2):
ME10=
Total of Row 23 + Total of Row 24
*MEN10 the number of days in the reporting period Total of Row 23 (≤750 mln.), Total of Row 26 (≤ L1) and Total of Row 27 (>L2):
ME11=
Total of Row 23 + Total of Row 24
*MEN11 the number of days in the reporting period Total of Row 23 (≤750 mln.), Total of Row 26 (> L1) and Total of Row 27 (>L2):
ME12=
Total of Row 23 + Total of Row 24
*MEN12 the number of days in the reporting period Total of Row 23 (>750 mln.), Total of Row 26 (≤ L1) and Total of Row 27 (≤ L2):
ME13=
Total of Row 23 + Total of Row 24
*MEN13 the number of days in the reporting period Total of Row 23 (>750 mln.), Total of Row 26 (> L1) and Total of Row 27 (≤ L2):
ME14=
Total of Row 23 + Total of Row 24
*MEN14 the number of days in the reporting period Total of Row 23 (>750 mln.), Total of Row 26 (≤ L1) and Total of Row 27 (>L2):
ME15=
Total of Row 23 + Total of Row 24
*MEN15 the number of days in the reporting period Total of Row 23 (>750 mln.), Total of Row 26 (> L1) and Total of Row 27 (>L2):
ME16= Total of Row 23 + Total of Row 24 *MEN16

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri the number of days in the reporting period In precious metals:
Total of Row 21 (≤1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (≤ L2):
MEqm1=
Total of Row 25
*MENqm1 the number of days in the reporting period Total of Row 21 (≤1 bln.), Total of Row 26 (> L1) and Total of Row 27 (≤ L2):
MEqm2=
Total of Row 25
*MENqm2 the number of days in the reporting period Total of Row 21 (≤1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (>L2):
MEqm3=
Total of Row 25
*MENqm3 the number of days in the reporting period Total of Row 21 (≤1 bln.), Total of Row 26 (> L1) and Total of Row 27 (>L2):
MEqm4=
Total of Row 25
*MENqm4 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (≤ L2):
MEqm5=
Total of Row 25
*MENqm5 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (> L1) and Total of Row 27 (≤ L2):
MEqm6=
Total of Row 25
*MENqm6 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (≤ L1) and Total of Row 27 (>L2):
MEqm7=
Total of Row 25
*MENqm7 the number of days in the reporting period Total of Row 21 (>1 bln.), Total of Row 26 (> L1) and Total of Row 27 (>L2):
MEqm8=
Total of Row 25
*MENqm8 the number of days in the reporting period Where, ME1 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 ME2 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 ME3 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri ME4 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 ME5 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 ME6 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 ME7 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 ME8 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MEN1 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MEN2 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MEN3 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MEN4 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MEN5 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MEN6 - required reserves to be maintained if the total amount of deposits of legal entities in national
currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MEN7 – required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MEN8 - required reserves to be maintained if the total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 ME9 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 ME10 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri ME11 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 ME12 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 ME13 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2. ME14 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 ME15 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 ME16 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MEN9 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MEN10 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MEN11 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MEN12 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is less than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of
related party deposits in total deposits is more than L2 MEN13 – required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MEN14 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MEN15 –required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MEN16 - required reserves to be maintained if the total amount of deposits of legal entities in foreign currency is more than seven hundred fifty million manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MEqm1 – required reserves to be maintained on liabilities in precious metals if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri MEqm2 - required reserves to be maintained on liabilities in precious metals if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MEqm3 – required reserves to be maintained on liabilities in precious metals if the total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MEqm4 - required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MEqm5 – required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MEqm6 - required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MEqm7 – required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MEqm8 - required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MENqm1 – required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MENqm2 -required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is less than L2 MENqm3 – required reserves to be maintained on liabilities in precious metals if total amount of
deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MENqm4 -required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is less than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2 MENqm5 –required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MENqm6 -required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is less than L2 MENqm7 –required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is less than L1, and the share of related party deposits in total deposits is more than L2 MENqm8 -required reserves to be maintained on liabilities in precious metals if total amount of deposits of legal entities in national currency is more than one billion manats, the share of linked deposits in total deposits is more than L1, and the share of related party deposits in total deposits is more than L2

Azərbaycan Respublikasının Hüquqi Aktların Dövlət Reyestri The specified differentiation is considered in the calculation of Rows 28, 29 and 30. Notes to Table 2:

Balance of each balance account is recorded in the column of the relevant day.
Required reserves to be maintained with the Central Bank is calculated as follows:
In manat:
ME= Total of Row 7 *MEN the number of days in the reporting period In foreign currency:
ME= Total of Row 8 *MEN the number of days in the reporting period In precious metals:
ME= Total of Row 9 *MEN the number of days in the reporting period Where, ME – amount of required reserves MEN – the reserve requirement set by the Central Bank Notes to Table 3:
Total amount of required reserves to be maintained with the Central Bank is calculated with the following formula:
Total in manat:
Total required reserves in manat = Row 28 (Table 1) + Row 10 (Table 2)Total in foreign currency:
Total required reserves in foreign currency = Row 29 (Table 1) + Row 11 (Table 2)Total in precious metals:
Total required reserves in precious metals = Row 30 (Table 1) + Row 12 (Table 2)

Regulations on the Ratio, Calculation and Maintenance of Required Reserves

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