Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Amendments and Additions to the Regulation on Requirements for Liquidity Management of Commercial Banks

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on April 21, 2025, Registration No. 2709-7

Date of Entry into Force

May 23, 2025

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[OKOZ:

1.21.00.00.00 Comprehensive documents on amendments and additions / 21.04.00.00 Departmental normative legal documents]

[TSZ:

1. State and public structure / Legislative initiative. Norm-making activity]

RESOLUTION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTON

On Amendments and Additions to the Regulation on Requirements for Liquidity Management of Commercial Banks

[Registered by the Ministry of Justice of the Republic of Uzbekistan on April 21, 2025, Registration No. 2709-7]

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Banks and Banking Activity," the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be made to the [Regulation](/docs/2720359?ONDATE=17.11.2015 00#2720709) and Appendix approved by Resolution No. 19/14-7 of the Board of the Central Bank of the Republic of Uzbekistan dated July 22, 2015 (Registration No. 2709, August 13, 2015) (Collection of Legislation of the Republic of Uzbekistan, 2015, No. 32) on Requirements for Liquidity Management of Commercial Banks.

2. This resolution shall enter into force one month after the date of its official publication.

Chairman T. ISHMETOV

Tashkent,

April 1, 2025,

No. 7/5

APPENDIX

to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 1, 2025, No. 7/5

On Amendments and Additions to the Regulation on Requirements for Liquidity Management of Commercial Banks

1. In [paragraph 1](/docs/2720359?ONDATE=17.11.2015 00#2720701):

supplement with the eleventh bullet point of the following content:

"financial institution — credit institutions, insurance companies, leasing companies, professional participants of the securities market, clearing organizations, and other organizations providing financial services;";

consider the [eleventh bullet point](/docs/2720359?ONDATE=01.03.2020 00#4752387) as the twelfth bullet point.

2. In [paragraph 2](/docs/2720359?ONDATE=27.05.2018 00#3716985):

rephrase the [eighth bullet point](/docs/2720359?ONDATE=27.05.2018 00#3717022) as follows:

"investments in securities issued by governments, central banks, and state sector organizations of foreign countries with a risk level of up to 50 percent in the capital adequacy calculation, and other financial claims against them;";

supplement with the ninth through eleventh bullet points of the following content:

"securities issued by international financial organizations with a risk level of up to 50 percent in the capital adequacy calculation;

secured debt relationship-certifying securities and corporate bonds issued by mortgage refinancing organizations;

securities issued by non-bank and non-financial organizations with a risk level of up to 50 percent in the capital adequacy calculation;";

consider the [ninth bullet point](/docs/2720359?ONDATE=27.05.2018 00#3717025) as the twelfth bullet point.

3. Supplement with paragraph 21 of the following content:

"21. High-liquidity assets consist of the sum of Level 1 high-liquidity assets and Level 2 high-liquidity assets.

In this regard, pledged high-liquidity assets are not included in the calculation of high-liquidity assets."

4. In [paragraph 3](/docs/2720359?ONDATE=01.03.2020 00#4752423):

replace the words "High-liquidity" in the [first bullet point](/docs/2720359?ONDATE=01.03.2020 00#4752423) with the words "Level 1 high-liquidity";

rephrase the [fifth bullet point](/docs/2720359?ONDATE=01.03.2020 00#4752430) as follows:

"investments in securities issued by governments, central banks, and state sector organizations of foreign countries with a risk level of 0 percent in the capital adequacy calculation, and other financial claims against them;";

rephrase the [eighth bullet point](/docs/2720359?ONDATE=01.03.2020 00#4752435) as follows:

"investments in securities issued by international financial organizations, including the International Monetary Fund and the World Bank Group (International Bank for Reconstruction and Development, International Finance Corporation, Multilateral Investment Guarantee Agency, International Development Association), as well as the Asian Development Bank, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development, European Investment Bank, Development Bank of the Council of Europe, Islamic Development Bank, Inter-American Development Bank, Scandinavian Investment Bank, and African Development Bank, with a risk level of 0 percent in the capital adequacy calculation, and other financial claims against them;";

replace the words "securities;" in the [ninth bullet point](/docs/2720359?ONDATE=11.01.2022 00#5816172) with the words "securities.";

delete the [tenth bullet point](/docs/2720359?ONDATE=08.03.2024 00#6796067).

5. Supplement with paragraphs 31–33 of the following content:

"31. Level 2 high-liquidity assets include Level 2A high-liquidity assets and Level 2B high-liquidity assets.

In this regard, in the calculation of high-liquidity assets:

the amount of Level 2 high-liquidity assets must not exceed 40 percent of the total amount of high-liquidity assets;

the amount of Level 2B high-liquidity assets must not exceed 15 percent of the total amount of high-liquidity assets.

32. Level 2A high-liquidity assets include:

85 percent of investments in securities issued by governments, central banks, and state sector organizations of foreign countries, as well as international financial organizations, with a risk level of 20 percent in the capital adequacy calculation, and other financial claims against them;

85 percent of secured debt relationship-certifying securities and corporate bonds issued by non-financial organizations that are not considered bank-related and have a rating assessment of "AA" (Standard & Poor's, Fitch Ratings) and/or (or) "Aa3" (Moody's Investors Service) or higher;

85 percent of corporate bonds issued by mortgage refinancing organizations.

33. Level 2B high-liquidity assets include:

50 percent of secured debt relationship-certifying securities and corporate bonds issued by non-financial organizations that are not considered bank-related and have a rating assessment from "A+" to "A-" (Standard & Poor's, Fitch Ratings) and/or (or) from "A1" to "A3" (Moody's Investors Service);

50 percent of investments in securities issued by governments, central banks, and state sector organizations of foreign countries, as well as international financial organizations, with a risk level of 50 percent in the capital adequacy calculation, and other financial claims against them."

6. In paragraph 52, rephrase the [third bullet point](/docs/2720359?ONDATE=17.11.2015 00#2720830) as follows:

"The income and expense elements for the next 30 days and the coefficients applied to them are established by the Central Bank."

7. In [paragraph 53](/docs/2720359?ONDATE=23.05.2019 00#4310398):

delete the words "The SBMMK calculation sample is indicated in Appendix 2 of this Regulation" from the [first bullet point](/docs/2720359?ONDATE=23.05.2019 00#4310398);

supplement with the second bullet point of the following content:

"The elements of the existing amount of stable financing and the required amount of stable financing and the coefficients applied to them are established by the Central Bank.";

consider the [second through sixth bullet points](/docs/2720359?ONDATE=23.05.2019 00#4310452) as the third through seventh bullet points, respectively;

delete the words "Starting from September 1, 2019" from the [third bullet point](/docs/2720359?ONDATE=23.05.2019 00#4310452).

8. [Paragraphs 54](/docs/2720359?ONDATE=17.11.2015 00#2720836) and [55](/docs/2720359?ONDATE=17.11.2015 00#2720841) are recognized as having lost their force.

9. [Appendix 2](/docs/2720359?ONDATE=17.11.2015 00#2720881) is recognized as having lost its force.

(, April 22, 2025, No. 10/25/2709-7/0368)