Resolution of the Board of the National Bank of the Kyrgyz Republic No. 48/10 of December 12, 2012 on Amendments to Certain Regulatory Legal Acts

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of December 12, 2012 No. 48/10

On Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of December 23, 2015 No. 78/25, December 23, 2020 No. 2020-P-33/73-12, August 17, 2022 No. 2022-P-33/52-2)

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 amendments and additions to certain regulatory legal acts of the National Bank of the Kyrgyz Republic (attached).

2. Recognize as no longer in force the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 12/5 of May 19, 2004 "On Granting LLC 'Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic' the Right to Conduct Financial Leasing Operations with Credit Union Participants".

3. After official publication, direct the Legal Department 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.

4. Direct the Supervision and Licensing Methodology Department to bring this Resolution to the attention of the specialized financial-credit institution JSC "Financial Company of Credit Unions".

5. This Resolution shall enter into force after the expiration of one month from the date of official publication.

Published in the journal "Regulatory Acts of the National Bank of the Kyrgyz Republic", No. 8/2012

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

Chairman	Z. Asankozhoeva

Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 12, 2012 No. 48/10

AMENDMENTS AND ADDITIONS
to certain regulatory legal acts of the National Bank of the Kyrgyz Republic

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of December 23, 2015 No. 78/25, December 23, 2020 No. 2020-P-33/73-12, August 17, 2022 No. 2022-P-33/52-2)

1 (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 78/25 of December 23, 2015)

2. Make the following amendments to the Rules for Regulating the Activities of Credit Unions in the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 14/2 of May 4, 2005, registered in the Ministry of Justice of the Kyrgyz Republic on June 6, 2005, registration number 73-05:

1. in paragraph 3.1.3. of section 3:

• in the first sentence, replace the words "LLC Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic" with the words "specialized financial-credit institution JSC 'Financial Company of Credit Unions' (hereinafter - FCKS)";

• in the second sentence, replace the words "LLC 'Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic'" with the word "FCKS";

2. in paragraph 5.2.4. of section 5, replace the words "LLC 'Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic'" with the word "FCKS".

3. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2022-P-33/52-2 of August 17, 2022)

4. Make the following amendments to the Regulation on the Credit Register, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 34/3 of July 11, 2007, registered in the Ministry of Justice of the Kyrgyz Republic on August 7, 2007, registration number 78-07:

1. rephrase the second paragraph of the preamble as follows:

"The action of this Regulation extends to all commercial banks, the specialized financial-credit institution JSC 'Financial Company of Credit Unions' (hereinafter - FCKS), Microfinance Companies (MFC), licensed by the National Bank of the Kyrgyz Republic, as well as the Kyrgyz Republic Development Bank.";

2. in paragraph 1.1. of section 1:

• in the second paragraph, replace the words "provided by a commercial bank, RSK, FCKPRC" with the words "provided by a commercial bank, the Kyrgyz Republic Development Bank, FCKS";

• in the fourth paragraph, replace the words "all commercial banks operating in the Kyrgyz Republic, as well as JSC 'RSK', LLC 'FCKPRC'" with the words "all commercial banks and the Kyrgyz Republic Development Bank operating in the Kyrgyz Republic, as well as FCKS".

5. Make the following amendment to the Regulation on Minimum Requirements for Credit Risk Management in Credit Unions, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 50/7 of December 23, 2009:

in paragraph 1.1. of section 1, replace the words "Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic" with the words "specialized financial-credit institution JSC 'Financial Company of Credit Unions'".

6. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2020-P-33/73-12 of December 23, 2020)

7. Make the following amendment to the Regulation on the Supervisory Committee of the National Bank of the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 6/2 of March 19, 2005, registered in the Ministry of Justice of the Kyrgyz Republic on April 21, 2005, registration number 55-05:

in the second sentence of paragraph 1.1. of section 1 of the Regulation, after the words "licensed by the National Bank", add the words ", as well as the Kyrgyz Republic Development Bank".

8. Make the following amendment to the appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" No. 41/10 of October 31, 2012:

in sub-item j) of paragraph 1, replace the words "in paragraph 12.7" with the words "in paragraph 13.7".

9. Make the following addition to the Instruction on Determining Capital Adequacy Standards for Commercial Banks of the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 18/2 of July 21, 2004, registered in the Ministry of Justice of the Kyrgyz Republic on August 23, 2004, registration number 94-04:

supplement paragraph 1.1. with the second sentence as follows:

"This Instruction also extends to the specialized financial-credit institution JSC 'Financial Company of Credit Unions' regarding the determination of capital structure, the procedure for calculating the minimum capital size (own funds) and capital adequacy coefficients, as well as the assessment of balance sheet and off-balance sheet assets by risk degree."