Resolution of the Board of the National Bank of the Kyrgyz Republic No. 13/10 of April 24, 2013 on Amendments to Certain Regulatory Legal Acts

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of April 24, 2013 No. 13/10

On Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

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. Approve the amendments and additions to certain regulatory legal acts of the National Bank of the Kyrgyz Republic (attached).

2. 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 Regulatory Legal Acts of the Kyrgyz Republic.

3. The Supervision and Licensing Methodology Department to bring this resolution to the attention of JSC "Financial Company of Credit Unions", microfinance organizations, credit unions, regional departments, and the Batsken Representative Office of the National Bank of the Kyrgyz Republic.

4. This resolution enters into force after 15 days from the date of official publication.

5. Control over the implementation of this resolution is entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic Z.L. Chokoev.

Chairman	Z. Asankozhoeva

	Appendix to the resolution of the Board of the National Bank of the Kyrgyz Republic of April 24, 2013 No. 13/10

AMENDMENTS AND ADDITIONS to certain regulatory legal acts of the National Bank of the Kyrgyz Republic

I. Make the following changes to the Rules regulating the activities of credit unions in the Kyrgyz Republic, approved by the resolution of the Board of the National Bank of the Kyrgyz Republic No. 14/2 of May 4, 2005:

1. Throughout the text of the Rules, replace the abbreviation "NBSR" with the words "National Bank" in the appropriate case forms.

2. In paragraph 6.1 of section 6:

• in the first paragraph, replace the words "External Supervision Department (hereinafter - ESD) or regional departments of NBSR" with the words "Financial Statistics and Review Department (hereinafter - FSRD) or regional departments/Batsken Representative Office of the National Bank";

• rewrite the second paragraph as follows:

"Credit unions located in the Chuy Region and the city of Bishkek must submit reports to the FSRD of the National Bank.";

• rewrite the third paragraph as follows:

"Credit unions located in other regions of the republic must submit reports to the corresponding regional department/Batsken Representative Office of the National Bank."

3. Rewrite paragraph 6.2 of section 6 as follows:

"6.2. Information on compliance with economic indicators, requirements, and restrictions is submitted by credit unions in accordance with the requirements of the Regulation 'On the Periodic Regulatory Report of a Credit Union', approved by the resolution of the Board of the National Bank of the Kyrgyz Republic No. 3/3 of January 16, 2008."

4. Exclude paragraph 6.3 of section 6.

II. Make the following changes and additions to the Regulation "On the Periodic Regulatory Report of a Credit Union", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic No. 3/3 of January 16, 2008:

1. Throughout the text of the Regulation, replace the abbreviation "NBSR" with the words "National Bank" in the appropriate case forms.

2. For section 4:

• rewrite paragraph 4.2 as follows:

"4.2. The Periodic Regulatory Report (hereinafter - PR) is submitted to the National Bank according to the forms specified in Appendix 2 to this Regulation within the established deadlines for each report on paper and electronic media. Electronic versions of the PR must be generated according to templates established by the National Bank.";

• rewrite paragraph 4.3 as follows:

"4.3. Credit Unions (hereinafter - CU) located in the Chuy Region and the city of Bishkek must submit the PR on paper media to the General Department of the National Bank in a sealed envelope.

Electronic versions of the PR must be transmitted by email to the Technical Support Department of the Statistical Database of the Financial Statistics and Review Department (hereinafter - FSRD) of the National Bank. In the absence of an email address, CUs must submit reports on other electronic media (USB flash drive).";

• add paragraph 4.3-1 to section 4 as follows:

"4.3-1. CUs located in other regions of the republic must submit the PR to the corresponding regional department/Batsken Representative Office of the National Bank on paper and electronic media.

Regional departments and the Batsken Representative Office of the National Bank forward the PR to the FSRD in aggregated form."

III. Make the following changes and additions to the Regulation "On the Periodic Regulatory Report of a Microfinance Company", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic No. 25/3 of May 27, 2009:

1. In sub-item a) of paragraph 4 of section 2, supplement the word "Laws" with the words "of the Kyrgyz Republic".

2. In paragraph 5 of section 2, replace the words "in paragraph 2.1" with the words "in paragraph 4".

3. Supplement paragraph 12 of section 4 with the following sentence:

"Electronic versions of the PR must be generated according to templates established by the National Bank."

4. Rewrite paragraphs 13 and 14 of section 4 as follows:

"13. Microfinance Companies (hereinafter - MFC) located in the Chuy Region and the city of Bishkek must submit the PR on paper media to the General Department of the National Bank in a sealed envelope.

Electronic versions of the PR must be transmitted by email to the Technical Support Department of the Statistical Database of the Financial Statistics and Review Department (hereinafter - FSRD) of the National Bank. In the absence of an email address, MFCs must submit reports on other electronic media (USB flash drive).

14. MFCs located in other regions of the republic must submit the PR to the corresponding regional department/Batsken Representative Office of the National Bank on paper and electronic media.

Regional departments and the Batsken Representative Office of the National Bank forward the PR to the FSRD in aggregated form."

IV. Make the following changes and additions to the Regulation "On the Periodic Regulatory Report of a Microcredit Company/Microcredit Agency", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic No. 25/3 of May 27, 2009:

1. In sub-item a) of paragraph 2.1 of section 2, replace the abbreviation "NBSR" with the words "National Bank of the Kyrgyz Republic (hereinafter - National Bank)", and supplement the word "Laws" with the words "of the Kyrgyz Republic".

2. Throughout the text of the Regulation, replace the abbreviation "NBSR" with the words "National Bank" in the appropriate case forms.

3. For section 4:

• rewrite the last sentence of paragraph 4.2 as follows:

"Electronic versions of the PR must be generated according to templates established by the National Bank.";

• rewrite paragraph 4.3 as follows:

"4.3. Microcredit Companies/Microcredit Agencies (hereinafter - MFC/MCA) located in the Chuy Region and the city of Bishkek must submit the PR on paper media to the General Department of the National Bank in a sealed envelope.

Electronic versions of the PR must be transmitted by email to the Technical Support Department of the Statistical Database of the Financial Statistics and Review Department (hereinafter - FSRD) of the National Bank. In the absence of an email address, MFC/MCAs must submit reports on other electronic media (USB flash drive).";

• add paragraph 4.3-1 to section 4 as follows:

"4.3-1. MFC/MCAs located in other regions of the republic must submit the PR to the corresponding regional department/Batsken Representative Office of the National Bank on paper and electronic media.

Regional departments and the Batsken Representative Office of the National Bank forward the PR to the FSRD in aggregated form."