NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of October 25, 2017 No. 2017-P-09/45-9-(NPA)

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

In accordance with Articles 20 and 68 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity," the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

1. Make the attached amendments to the following regulatory legal acts of the National Bank of the Kyrgyz Republic:

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Issue, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/6;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Intraday Credit of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/8;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Overnight Credit of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/7;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On 7-Day Credit of the National Bank of the Kyrgyz Republic'" dated January 29, 2014 No. 2/5;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support Purposes'" dated November 27, 2013 No. 45/13;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Liquidity Support Credit'" dated September 3, 2015 No. 50/1;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Lender of Last Resort Credit'" dated June 14, 2017 No. 2017-P-09/24-6-(NPA);

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Operation of the Automated Trading System of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/18;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Rules for Trading Government Securities in the Secondary Market through the Automated Trading System of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/17;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Procedure for Conducting Repo Operations with Government Securities of the Kyrgyz Republic by the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/10;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Procedure for Conducting Outright Purchase Operations of Government Securities of the Kyrgyz Republic in the Secondary Market by the National Bank of the Kyrgyz Republic (Rediscount Operation)'" dated March 28, 2013 No. 10/14.

2. This Resolution shall enter into force upon the expiration of fifteen days from the date of its official publication.

3. 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.

4. The Monetary Operations Department shall bring this Resolution to the attention of commercial banks and relevant structural subdivisions of the National Bank of the Kyrgyz Republic.

5. Control over the implementation of this Resolution shall be entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic N. Zhenish.

| Chairman of the Board of the National Bank of the Kyrgyz Republic | | K. Kulmatov |

		Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated October 25, 2017 No. 2017-P-09/45-9-(NPA)

Amendments to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

1. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Issue, 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 issue, placement, circulation and redemption of notes of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• paragraph 3 is recognized as having lost force;

• in paragraph 10, replace the words "government securities" with "notes of the National Bank."

2. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Intraday Credit of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/8:

in the Regulation on intraday credit of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• rephrase the second sentence of paragraph 5 as follows:

"The subject of pledge in the form of a deposit is government securities of the Government of the Kyrgyz Republic and notes of the National Bank (hereinafter - securities).";

• throughout the text of the Regulation, the Appendix to the Regulation (General Agreement on Intraday Credit), and Appendix 1 to the General Agreement on Intraday Credit, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

3. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Overnight Credit of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/7:

in the Regulation on overnight credit of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• rephrase the second sentence of paragraph 5 as follows:

"The subject of pledge in the form of a deposit is government securities of the Government of the Kyrgyz Republic and notes of the National Bank (hereinafter - securities)";

• throughout the text of the Regulation, the Appendix to the Regulation (General Agreement on Overnight Credit), and Appendix 1 to the General Agreement on Overnight Credit, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

4. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On 7-Day Credit of the National Bank of the Kyrgyz Republic'" dated January 29, 2014 No. 2/5:

in the Regulation on 7-day credit of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• rephrase the second sentence of paragraph 5 as follows:

"The subject of pledge in the form of a deposit is government securities of the Government of the Kyrgyz Republic and notes of the National Bank (hereinafter - securities)";

• throughout the text of the Regulation, the Appendix to the Regulation (General Agreement on 7-Day Credit), Appendices 1 and 2 to the General Agreement on 7-Day Credit, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

5. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support Purposes'" dated 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 refinancing and liquidity support purposes, approved by the aforementioned Resolution:

• in the ninth paragraph of paragraph 29, exclude the word "government";
• rephrase sub-item 2 of paragraph 41 as follows:

"2) Government securities of the Government of the Kyrgyz Republic and notes of the National Bank (hereinafter - securities);";

• throughout the text of the Regulation, the Appendix to the Regulation (General Agreement on Credit Auction), Appendices 2 and 5 to the General Agreement on Credit Auction, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

6. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Liquidity Support Credit'" dated September 3, 2015 No. 50/1:

in the Regulation on liquidity support credit, approved by the aforementioned Resolution:

• rephrase sub-item 1) of paragraph 14 as follows:

"1) government securities of the Government of the Kyrgyz Republic and notes of the National Bank (hereinafter - securities)";

in the Pledge Agreement (Government Securities) to the Credit Agreement on the provision of credit/tranche (Appendix 3):

• in the title, exclude the word "Government";
• in paragraph 1.2, exclude the words "government", "(hereinafter GCB)";
• in sub-item 2.1.5, exclude the words "(GKV and/or GKO)";
• throughout the text of the Agreement, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

7. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Lender of Last Resort Credit'" dated June 14, 2017 No. 2017-P-09/24-6-(NPA):

in the Regulation on lender of last resort credit, approved by the aforementioned Resolution:

• in paragraph 14, exclude the word "government";
• rephrase sub-item 1) of paragraph 19 as follows:

"1) government securities of the Government of the Kyrgyz Republic and notes of the National Bank;".

8. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Operation of the Automated Trading System of the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/18:

in the Regulation on the operation of the Automated Trading System of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in paragraph 13, replace the words "Government securities (hereinafter - GCB)" with "Securities";
• throughout the text of the Regulation, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

9. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Rules for Trading Government Securities in the Secondary Market through the Automated Trading System of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/17:

• in the title of the Resolution, in paragraphs 1 and 6, exclude the word "government";

in the Rules for Trading Government Securities of the Kyrgyz Republic in the Secondary Market through the Automated Trading System of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in the title of the Rules, exclude the word "Government";
• in paragraph 1, exclude the words "government", "(hereinafter - GCB)";
• throughout the text of the Rules, replace the abbreviation "GCB" with the words "securities" in the appropriate cases;

in Appendix 1 to the Rules:

• exclude the word "Government";
• throughout the text of the Appendix, replace the abbreviation "GCB" with the words "securities" in the appropriate cases;

in Appendix 2 to the Rules:

• exclude the word "Government";
• throughout the text of the Appendix, replace the abbreviation "GCB" with the words "securities" in the appropriate cases;

in Appendix 3 to the Rules:

• exclude the word "Government";
• throughout the text of the Appendix, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

10. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Procedure for Conducting Repo Operations with Government Securities of the Kyrgyz Republic by the National Bank of the Kyrgyz Republic'" dated March 28, 2013 No. 10/10:

• in the title of the Resolution, in paragraphs 1 and 6, exclude the word "government";
• in paragraph 2, exclude the words "On the Procedure for Conducting Repo Operations with Government Securities of the Kyrgyz Republic by the National Bank of the Kyrgyz Republic";

in the Regulation on the procedure for conducting repo operations with government securities of the Kyrgyz Republic by the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in the title of the Regulation, exclude the word "government";
• throughout paragraph 1, exclude the word "government";
• throughout the text of the Regulation, replace the abbreviation "GCB" with the words "securities" in the appropriate cases;

in Appendix 1 to the Regulation:

• in the title and throughout the text of the Appendix, exclude the words "government";
• throughout the text of the Appendix, replace the abbreviation "GCB" with the words "securities" in the appropriate cases;

in Appendix 2 to the Regulation:

• exclude the word "government";
• throughout the text of the Appendix, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.

11. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Procedure for Conducting Outright Purchase Operations of Government Securities of the Kyrgyz Republic in the Secondary Market by the National Bank of the Kyrgyz Republic (Rediscount Operation)'" dated March 28, 2013 No. 10/14:

• in the title of the Resolution, in paragraphs 1 and 5, exclude the word "government";

in the Regulation on the procedure for conducting outright purchase operations of government securities of the Kyrgyz Republic in the secondary market by the National Bank of the Kyrgyz Republic (rediscount operation), approved by the aforementioned Resolution:

• in the title and throughout the text of the Regulation, exclude the word "government";
• throughout the text of the Regulation, replace the abbreviation "GCB" with the words "securities" in the appropriate cases;

in Appendix 1 to the Regulation:

• in the title and throughout the text of the Appendix, exclude the word "government";
• in the preamble and in paragraph 1.1, exclude the word "government";
• throughout the text of the Appendix, replace the abbreviation "GCB" with the words "securities" in the appropriate cases.