Resolution of the Board of the National Bank of the Kyrgyz Republic No. 10/1 of March 10, 2017 on Amendments to the Regulation on Credit Auctions for Refinancing and Liquidity Support

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of March 10, 2017 No. 10/1

On the introduction of additions and amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On the approval of the Regulation 'On the procedure for conducting credit auctions by the National Bank of the Kyrgyz Republic for the purposes of refinancing and maintaining liquidity' of November 27, 2013 No. 45/13"

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 introduce the attached additions and amendments into the Resolution of the Board of the National Bank of the Kyrgyz Republic "On the approval of the Regulation 'On the procedure for conducting credit auctions by the National Bank of the Kyrgyz Republic for the purposes of refinancing and maintaining liquidity' of November 27, 2013 No. 45/13".

2. To the Legal Department:

• to publish this Resolution on the official website of the National Bank of the Kyrgyz Republic;

• after official publication, 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.

3. This Resolution enters into force from the day of its official publication.

4. To the Monetary Operations Department to bring this Resolution to the attention of commercial banks.

5. To entrust the Deputy Chairman of the National Bank of the Kyrgyz Republic, Zhenish N., with control over the implementation of this Resolution.

Acting Chairman		N. Zhenish

| | | | Application to the Resolution of the Board of the National Bank of the Kyrgyz Republic of March 10, 2017 No. 10/1 |

ADDITIONS AND AMENDMENTS to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On the approval of the Regulation 'On the procedure for conducting credit auctions by the National Bank of the Kyrgyz Republic for the purposes of refinancing and maintaining liquidity' of November 27, 2013 No. 45/13"

To introduce the following changes into the Resolution of the Board of the National Bank of the Kyrgyz Republic "On the approval of the Regulation 'On the procedure for conducting credit auctions by the National Bank of the Kyrgyz Republic for the purposes of refinancing and maintaining liquidity' of November 27, 2013 No. 45/13":

in the Regulation "On the procedure for conducting credit auctions by the National Bank of the Kyrgyz Republic for the purposes of refinancing and maintaining liquidity", approved by the aforementioned Resolution:

• in paragraph 30, after the words "minimum interest rate, minimum", add the words "and maximum";

• rephrase paragraph 35 as follows:

"35. The volume of the Bank's application must correspond to the minimum and maximum volume established in the parameters of the credit auction.";

• rephrase paragraph 41-1 as follows:

"41-1. In the event that the Bank provides collateral in the form of claim rights under loans, a portion of the amount of the credit requested by the Bank, taking into account the application of the corresponding collateral coefficient, must be secured by collateral specified in sub-paragraphs 1 and 2 of paragraph 41 of this Regulation and owned by the Bank. Requirements for the maximum volume of collateral in the form of claim rights under loans are determined by the Credit Committee in percentage terms together with other requirements for collateral.".