Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2/8 of January 29, 2014 on Amendments to the Regulation on the Issuance, Placement, Circulation and Redemption of NBS Notes

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of January 29, 2014 No. 2/8

On Amendments and Additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation on the Issuance, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/6

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 "On Approval of the Regulation on the Issuance, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/6 (attached).

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 after 15 days from the date of official publication.

4. To the Monetary Operations Department to bring this resolution to the attention of commercial banks, relevant structural subdivisions of the National Bank of the Kyrgyz Republic, regional departments, and the Representative Office of the National Bank of the Kyrgyz Republic in the Batken Region.

5. To entrust the Deputy Chairman of the National Bank of the Kyrgyz Republic, S. Abdybaly Tegin, with control over the execution of this resolution.

Chairman	Z. Asankhozhayeva

	Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated January 29, 2014 No. 2/8

Amendments and Additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation on the Issuance, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/6

To make the following amendments and additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation on the Issuance, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/6:

in the Regulation on the Issuance, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic, approved by the aforementioned resolution:

• in paragraph 9, after the words "notes of the National Bank", add the words "(Appendix 1, 2)";

• in paragraph 11, after the words "volume of issuance", add the words "maximum yield,";

• supplement paragraph 17 with the following sentence:

"The maximum yield is set equal to the discount rate on the date of the auction.";

• rephrase paragraph 30 as follows:

"30. The auction is considered failed, and the issuance unplaced, in the event of participation in the auction by one participant.";

• rephrase paragraph 41 as follows:

"41. The yield of the security specified in the application must not exceed the maximum yield set on the date of the auction in accordance with paragraph 17 of this Regulation.".