Resolution of the Board of the National Bank of the Kyrgyz Republic No. 39/5 of October 23, 2013 on Amendments and Additions to Resolution No. 52/4

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of October 23, 2013 No. 39/5

On Amendments and Additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 52/4 of June 30, 2010 "On Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic"

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. Approve the attached amendments and additions to the Regulation on minimum requirements for managing credit risk in commercial banks and other financial-credit institutions licensed by the National Bank of the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 52/4 of June 30, 2010.

2. 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.

3. The Supervision and Licensing Methodology Department to bring this Resolution to the attention of commercial banks, the State Development Bank of the Kyrgyz Republic, and the specialized financial-credit institution JSC "Financial Company of Credit Unions".

4. This Resolution shall enter into force upon the expiration of one month after its official publication.

5. Control over the implementation of this Resolution is entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic Z.L. Chokoev.

Chairman		Z. Asankojoyeva

		Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic of October 23, 2013 No. 39/5

AMENDMENTS AND ADDITIONS to the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 52/4 of June 30, 2010 "On Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic"

Make the following amendments and additions to the Regulation on minimum requirements for managing credit risk in commercial banks and other financial-credit institutions licensed by the National Bank of the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 52/4 of June 30, 2010:

1. In the fourth paragraph of paragraph 41 of Section 4, after the words "interest rate", add the words "in annual terms".

2. In paragraph 44 of Section 4, replace the words ", on the basis of which the bank will monitor the compliance of the borrower's activities with the submitted business plan, cash flow forecast, and proposed loan repayment schedule" with the words "and/or other financial documents confirming the borrower's use of the loan for its intended purpose".

3. In paragraph 48 of Section 4, exclude the words "(blank)".

4. In paragraph 61 of Section 4, after the words "are considered blank," add the words "except for overdrafts on payment cards within the framework of payroll projects,".

5. Exclude the fifth paragraph of paragraph 69 of Section 5.