Resolution of the Board of the National Bank of the Kyrgyz Republic No. 35/7 of June 24, 2015 on Amendments to Certain Resolutions of the Board of the National Bank of the Kyrgyz Republic

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of June 24, 2015 No. 35/7

On Amendments and Additions to Certain Resolutions of the Board of the National Bank of the Kyrgyz Republic

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-4)

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. Make amendments and additions to the following Resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

• (paragraph lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-4)

• "On Approval of the Instruction "On the Procedure for Compliance with Limits of Open Foreign Exchange Position by Commercial Banks in the Territory of the Kyrgyz Republic" dated December 29, 2004 No. 36/13.

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 Department of Supervision and Licensing Methodology shall bring this Resolution to the attention of commercial banks, the specialized financial-credit institution JSC "Financial Company of Credit Unions", and the State Development 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 L.Dz. Orozbayeva.

Chairman	T. Abdygulov

				---	---			Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 24, 2015 No. 35/7

AMENDMENTS AND ADDITIONS to certain Resolutions of the Board of the National Bank of the Kyrgyz Republic

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-4)

I. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-4)

II. In the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Instruction "On the Procedure for Compliance with Limits of Open Foreign Exchange Position by Commercial Banks in the Territory of the Kyrgyz Republic" dated December 29, 2004 No. 36/13, make the following change:

in the Instruction "On the Procedure for Compliance with Limits of Open Foreign Exchange Position by Commercial Banks in the Territory of the Kyrgyz Republic", approved by the aforementioned Resolution:

• paragraph 5.1 shall be worded as follows:

"5.1. In the event of a bank violating established limits of open foreign exchange position by the end of each operating day, the National Bank of the Kyrgyz Republic applies sanctions in the form of collection of a monetary fine in the amount of 5% of the violation amount, but not more than 1% of the size of the paid-up charter capital of the bank.".