2008-11-05 | 8-240Added · Updated
Credit unions must transition to information systems by January 1, 2010. Unlicensed credit unions require a minimum capital of 30,000 som, while those licensed to attract deposits require 500,000 som. Licensed credit unions must maintain a loan delinquency ratio not exceeding 5% and an institutional capital adequacy ratio of 12%. This resolution replaces Board Resolution No. 78/25 and enters into force after state registration and official publication.
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Registered in the Ministry of Justice of the Kyrgyz Republic
December 15, 2008. Registration number 144-08
Bishkek
from November 5, 2008 No. 40/7
RESOLUTION OF THE BOARD OF THE NATIONAL BANK
OF THE KYRGYZ REPUBLIC
ON AMENDING AND AMENDING CERTAIN
REGULATORY ACTS OF THE NATIONAL BANK
OF THE KYRGYZ REPUBLIC
(In the version of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 23, 2015 No. 78/25
Having considered and discussed the draft amendments and additions to certain regulatory acts of the National Bank of the Kyrgyz Republic, developed for the purpose of promoting the development of deposit operations in credit unions and increasing the efficiency of supervision over credit unions, in accordance with the Laws "On the National Bank of the Kyrgyz Republic", "On Credit Unions", the Board of the National Bank of the Kyrgyz Republic resolves:
Approve amendments and additions to certain regulatory acts of the National Bank of the Kyrgyz Republic (attached).
Credit unions attracting deposits from their members must complete the transition to using information systems no later than January 1, 2010.
The Non-Banking Institutions Supervision Department, together with the Legal Department, must submit this resolution for state registration in the Ministry of Justice of the Kyrgyz Republic in the established manner.
This resolution enters into force after state registration in the Ministry of Justice of the Kyrgyz Republic and subsequent official publication.
After the publication of the registered regulatory act, the Legal Department must inform the Ministry of Justice of the Kyrgyz Republic about the source of publication (name of the publication, its number and date).
Control over the execution of this resolution is assigned to the Member of the Board of the National Bank of the Kyrgyz Republic S.K. Alybaeva.
Published in the journal "Regulatory Acts of the National Bank of the Kyrgyz Republic", No. 2008/13
Chairman of the Board of the National
Bank of the Kyrgyz Republic M. Alapaev
Appendix
to the resolution of the Board
of the National Bank
of the Kyrgyz Republic
of November 5, 2008 No. 40/7
@1 AMENDMENTS AND ADDITIONS
to certain regulatory acts of the National Bank
of the Kyrgyz Republic
1 (Lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of December 23, 2015 No. 78/25)
a) for credit unions not possessing a license for the right to attract deposits - not less than 30,000 (Thirty thousand) som;
b) for credit unions possessing a license for the right to attract deposits (deposits) from members of the credit union - not less than 500,000 (Five hundred thousand) som.;
section IV "Values of requirements and restrictions imposed on credit unions" is to be supplemented with paragraph 4.5 of the following content: "4.5. For credit unions possessing a license for the right to attract deposits (deposits) from members of the credit union, the ratio of total debt on the principal amount of loans, overdue on the principal amount and/or interest, to the loan portfolio must not exceed 5%.";
paragraph 5.6 "Capital Adequacy Ratio (N6)" is to be supplemented with sub-paragraph 5.6.6 of the following content: "5.6.6. For credit unions possessing a license for the right to attract deposits (deposits) from members of the credit union, the values of the institutional capital adequacy ratio (N6-1) are set at 12%.".
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Amended 1 time · last 2015-12-23
Source: National Bank of the Kyrgyz Republic — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works