Resolution of the Board of the National Bank of the Kyrgyz Republic No. 24/7 of May 30, 2014 on Amending Resolution No. 18/3

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of May 30, 2014 No. 24/7

On Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approving the New Edition of the Regulation "On Asset Classification and Corresponding Provisions to the Reserve to Cover Potential Losses and Shortfalls" dated July 21, 2004 No. 18/3

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 the following addition to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approving the New Edition of the Regulation "On Asset Classification and Corresponding Provisions to the Reserve to Cover Potential Losses and Shortfalls" dated July 21, 2004 No. 18/3:

in the Regulation on Asset Classification and Corresponding Provisions to the Reserve to Cover Potential Losses and Shortfalls, approved by the aforementioned Resolution:

subparagraph 4.3.2 of paragraph 4.3. to be supplemented by a tenth paragraph as follows:

"- the size of regular payments by a borrower-natural person, including an individual entrepreneur without forming a legal entity, to repay the debt on a loan in foreign currency exceeds 40 percent of their total income for the corresponding period, provided that their total income in foreign currency constitutes less than 50 percent of their total income."

2. This Resolution applies to newly issued and restructured loans after this Resolution enters into force.

3. This Resolution enters into force upon the expiration of one month from the date of official publication.

4. 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.

5. The Supervision and Licensing Department to bring this Resolution to the attention of commercial banks, the specialized financial-credit institution JSC "Financial Company of Credit Unions", the State Development Bank of the Kyrgyz Republic, the regional departments of the National Bank, and the branch of the National Bank of the Kyrgyz Republic in the Batken Region.

6. To entrust the Deputy Chairman of the National Bank of the Kyrgyz Republic, Z.L. Chokoev, with control over the implementation of this Resolution.

Chairman	T.S. Abdygulov