Resolution of the Board of the National Bank of the Kyrgyz Republic dated April 27, 2011 No. 26/5 on Amendments and Additions to Resolution No. 6/2

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

dated April 27, 2011 No. 26/5

On Amendments and Additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated March 19, 2005 No. 6/2 "On Approval of the New Edition of the Regulation 'On the Supervisory Committee of the National Bank of the Kyrgyz Republic', registered in the Ministry of Justice of the Kyrgyz Republic on April 21, 2005, registration number 55-05"

In accordance with Articles 7 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 make amendments and additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated March 19, 2005 No. 6/2 "On Approval of the New Edition of the Regulation 'On the Supervisory Committee of the National Bank of the Kyrgyz Republic', registered in the Ministry of Justice of the Kyrgyz Republic on April 21, 2005, registration number 55-05" (attached).

2. This Resolution shall enter into force upon the expiration of one month after its official publication.

3. After official publication, the Legal Department is directed to send this Resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Regulatory Legal Acts of the Kyrgyz Republic.

4. Control over the implementation of this Resolution is assigned to the Deputy Chairman of the National Bank of the Kyrgyz Republic, S. Abdybalty tegin.

Acting Chairman of the Board of the National Bank of the Kyrgyz Republic	B. Jeenbaeva
	Approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated April 27, 2011 No. 26/5

AMENDMENTS AND ADDITIONS to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated March 19, 2005 No. 6/2 "On Approval of the New Edition of the Regulation 'On the Supervisory Committee of the National Bank of the Kyrgyz Republic', registered in the Ministry of Justice of the Kyrgyz Republic on April 21, 2005, registration number 55-05"

1. Supplement paragraph 2.1 of Section 2 with sub-paragraph 2.1.1 of the following content:

"2.1.1. At least once a month, the Committee considers:

• the report on the implementation of the supervisory strategy for banks (in each month - a report on two banks);

• information on the compliance/non-compliance of commercial banks, as well as microfinance companies and credit unions attracting deposits, with economic standards and requirements based on the results of comprehensive inspections, as well as external supervision;

• the results of the application of regulatory supervisory measures with respect to banks, as well as microfinance companies and credit unions attracting deposits."

2. In paragraph 2.2 of Section 2:

• in sub-paragraph b), delete the words "with ratings 3 and 4";

• in sub-paragraph e), after the words "determination of further", add the word "supervisory";

• in sub-paragraph i), after the words "to law enforcement agencies", add the words "on issues for which decisions were made by the Committee".

3. In paragraph 3.1 of Section 3:

• replace the words "last Thursday" with the words "last Friday";

• after the words "The Committee approves", add the word "semi-annual".

4. In paragraph 3.9 of Section 3:

• rephrase sub-paragraph b) as follows:

"b) preparation of a draft plan of the Committee's work for the half-year";

• rephrase sub-paragraph g) as follows:

"g) preparation of semi-annual reports on the progress of execution by structural subdivisions of resolutions and other decisions (directives) of the Committee";

• rephrase sub-paragraph d) as follows:

"d) preparation of a report on the Committee's work once every half-year".