Resolution of the Board of the National Bank of the Kyrgyz Republic No. 47/10 of October 30, 2014 on Amendments to Certain Resolutions

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of October 30, 2014. No. 47/10

On the introduction of additions and amendments to certain resolutions of the Board of the National Bank of the Kyrgyz Republic

In accordance with Articles 7 and 43 of the Law "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

1. Make the attached additions and amendments to the following resolutions of the Board of the National Bank of the Kyrgyz Republic:

• "On the Rules for the Registration of Pledged Collateral in the Form of State Securities Placed through the National Bank of the Kyrgyz Republic in Interbank Credit Operations" dated June 30, 2010 No. 52/1;

• "On the Regulation" "On the Depository Accounting of State Securities Placed through the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/9.

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 Accounting and Reporting Department to bring this resolution to the attention of the structural subdivisions of the National Bank, regional departments, and the representation in the Batken region.

4. This resolution enters into force upon the expiration of one month from the date of official publication.

5. Control over the execution of this resolution is entrusted to the Board Member of the National Bank of the Kyrgyz Republic T. Jusupov.

Chairman	T. Abdygulov

	Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated October 30, 2014 No. 47/10

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

1. Make the following additions and amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On the Rules for the Registration of Pledged Collateral in the Form of State Securities Placed through the National Bank of the Kyrgyz Republic in Interbank Credit Operations" dated June 30, 2010 No. 52/1:

in the Rules for the Registration of Pledged Collateral in the Form of State Securities Placed through the National Bank of the Kyrgyz Republic in Interbank Credit Operations, approved by the aforementioned resolution:

• supplement Section 4 with point 14-1 of the following content:

"14-1. In the event of banks concluding contracts (agreements) on the provision of credit lines (credits), tranches within the framework of intergovernmental agreements, international interbank associations, the registration of a pledge contract for State Securities in the Depository of State Securities is permitted without the participation of the Pledge Manager.

Full or partial release of State Securities pledged in the above-mentioned case is carried out by the National Bank upon notification from the Pledgee submitted by it in the established form (Appendix 3). At the same time, the notification from the Pledgee is provided in the official language or with a translation into the official language, notarized.";

• rephrase point 15 as follows:

"15. Voluntary transfer of State Securities held in the pledge sub-account of the Pledgor to the investment sub-account of the Pledgee, or to the general sub-account of the Pledge Manager in the Depository of State Securities may be carried out by the National Bank upon the instruction of the Pledgee or the Pledge Manager, agreed with the Pledgor (Appendix 4), on the day of its receipt.";

• in point 5 of Appendix 2, exclude the words "arbitration court or others";

• rephrase point 6 of Appendix 2 as follows:

"6. Upon the maturity of State Securities held in the pledge sub-account of the Pledgor in the Depository of State Securities due to: (1) ongoing judicial or out-of-court proceedings; (2) the fact that the Pledgor and/or Pledgee or the Pledge Manager have not taken action regarding the pledge, the Parties authorize the National Bank of the Kyrgyz Republic to transfer their nominal value from the account of the Central Treasury at the Ministry of Finance of the Kyrgyz Republic to the correspondent account of the bank (name of the bank) in the National Bank of the Kyrgyz Republic.".

2. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On the Regulation" "On the Depository Accounting of State Securities Placed through the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/9:

in the Regulation "On the Depository Accounting of State Securities Placed through the National Bank of the Kyrgyz Republic", approved by the aforementioned resolution:

• in point 28, exclude the digit "3".

• exclude Appendix 3.