Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2023-P-15/11-6-(NPA) of 22 February 2023 on Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic on Approval of Minimum Requirements for the Formation of a Loan Portfolio Accepted as Collateral

BOARD OF THE NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of 22 February 2023 No. 2023-P-15/11-6-(NPA)

On Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of Minimum Requirements for the Formation of a Loan Portfolio Accepted as Collateral" of 27 December 2017 No. 2017-P-15/54-4-(NPA)"

In accordance with Articles 5, 9 and 64 of the Constitutional 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 amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of Minimum Requirements for the Formation of a Loan Portfolio Accepted as Collateral" of 27 December 2017 No. 2017-P-15/54-4-(NPA)" (attached).

2. To the Legal Department:

• from the day of receipt of the relevant documents, within 3 (three) working days, 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 Normative Legal Acts of the Kyrgyz Republic.

3. This resolution enters into force upon the expiration of fifteen days from the day of official publication.

4. To the Accounting and Reporting Department to bring this resolution to the attention of commercial banks of the Kyrgyz Republic, non-bank financial and credit organizations attracting deposits, the 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 Batken Oblast.

5. To assign control over the execution of this resolution to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Accounting and Reporting Department.

Acting Chairman	Z. Chokoev

	Annex to the resolution of the Board of the National Bank of the Kyrgyz Republic of 22 February 2023 No. 2023-P-15/11-6-(NPA)

Amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of Minimum Requirements for the Formation of a Loan Portfolio Accepted as Collateral" of 27 December 2017 No. 2017-P-15/54-4-(NPA)

To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of Minimum Requirements for the Formation of a Loan Portfolio Accepted as Collateral" of 27 December 2017 No. 2017-P-15/54-4-(NPA)" with the following amendments:

In the Minimum Requirements for the Formation of a Loan Portfolio Accepted as Collateral, approved by the above-mentioned resolution:

• throughout the text, after the word "Bank" in various cases, add the word "/NFCO";

• restate point 1 as follows:

"1. The purpose of these minimum requirements is to define the characteristics and requirements for loans/leases of commercial banks (hereinafter - banks), non-bank financial and credit organizations attracting deposits (hereinafter - NFCOs), included in the loan portfolio, the rights of claim under which may be accepted as collateral when providing loans by the National Bank of the Kyrgyz Republic (hereinafter - the National Bank) and their verification for compliance with the established requirements.";

• restate paragraph 10 of point 4 as follows:

"For credit resources provided within the framework of the provisions "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for the Purposes of Refinancing and Maintaining Liquidity", "On the Lender of Last Resort", "On the Liquidity Maintenance Loan", and "On the Lender of Last Resort for Non-Bank Financial and Credit Organizations Attracting Deposits", loans issued in national currency shall serve as collateral.";

In point 5:

• restate subpoint 5 as follows:

"5) the loan/lease complies with the characteristics of normal and satisfactory loans (assets), according to the provisions "On the Classification of Assets and Corresponding Allocations to the Reserve for Potential Losses and Damages" for banks and "On the Classification of Assets and Formation of Reserves for Potential Losses and Damages by Non-Bank Financial and Credit Organizations" for NFCOs attracting deposits;";

• in subpoint 6, remove the words "approved by resolution of the Board of the National Bank of 30 June 2010 No. 52/4";

• in point 18-1, remove the words "approved by resolution of the Board of the National Bank of the Kyrgyz Republic of 21 July 2004 No. 18/3".