Resolution of the Board of the National Bank of the Kyrgyz Republic No. 49/6 of 23 December 2008 on Amending and Supplementing Resolution No. 16/2 of 19 May 2005 on Approval of the Regulation on Measures of Influence Applied to Banks and Certain Other Financial and Credit Institutions Licensed by the National Bank of the Kyrgyz Republic

REPEALED
in accordance with Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2017-P-12/25-4 of 15 June 2017

Registered with the Ministry of Justice of the Kyrgyz Republic

26 January 2009. Registration number 10-09

Bishkek

No. 49/6 of 23 December 2008

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

On Amending and Supplementing the Resolution of the Board

of the National Bank of the Kyrgyz Republic No. 16/2 of 19 May 2005

"On Approval of the Regulation 'On Measures of Influence

Applied to Banks and Certain Other Financial and Credit

Institutions Licensed by the National Bank

of the Kyrgyz Republic'"

Having considered the draft amendments and supplements to Resolution of the Board of the National Bank of the Kyrgyz Republic No. 16/2 of 19 May 2005 "On Approval of the Regulation 'On Measures of Influence Applied to Banks and Certain Other Financial and Credit Institutions Licensed by the National Bank of the Kyrgyz Republic'" registered with the Ministry of Justice of the Kyrgyz Republic on 24 June 2005, registration number 78-05, guided by the laws of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", "On Banks and Banking Activity in the Kyrgyz Republic", "On Combating the Financing of Terrorism and Legalization (Laundering) of Proceeds from Crime", "On Protection of Bank Deposits", the Board of the National Bank of the Kyrgyz Republic resolves:

1. To introduce into Resolution of the Board of the National Bank of the Kyrgyz Republic No. 16/2 of 19 May 2005 "On Approval of the Regulation 'On Measures of Influence Applied to Banks and Certain Other Financial and Credit Institutions Licensed by the National Bank of the Kyrgyz Republic'" registered with the Ministry of Justice of the Kyrgyz Republic on 24 June 2005, registration number 78-05, the amendments and supplements in accordance with the annex to this resolution.

2. The Supervision Methodology and Licensing Department, together with the Legal Department, shall in the established procedure send this resolution for state registration to the Ministry of Justice of the Kyrgyz Republic.

3. This resolution shall enter into force after state registration with the Ministry of Justice of the Kyrgyz Republic and subsequent official publication.

4. After publication of the registered normative legal act, the Legal Department shall inform the Ministry of Justice of the Kyrgyz Republic of the source of publication (name of the publication, its number and date).

5. Control over the execution of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Kyrgyz Republic K.K. Bokontaev.

Published in the journal "Normative Acts of the National Bank of the Kyrgyz Republic", No. 2009/2

Chairman of the Board of the National

Bank of the Kyrgyz Republic M. Alapaev

@1 Annex

to the Resolution of the Board

of the National Bank

of the Kyrgyz Republic

No. 49/6 of 23 December 2008

AMENDMENTS AND SUPPLEMENTS

to the Resolution of the Board of the National Bank of the Kyrgyz

Republic "On Approval of the Regulation 'On Measures of Influence

Applied to Banks and Certain Other Financial and Credit

Institutions Licensed by the National Bank of the Kyrgyz

Republic'" No. 16/2 of 19 May 2005, registered

with the Ministry of Justice of the Kyrgyz Republic

on 24 June 2005, registration number 78-05

To introduce into the Regulation "On Measures of Influence Applied to Banks and Certain Other Financial and Credit Institutions Licensed by the National Bank of the Kyrgyz Republic", approved by Resolution of the Board of the NBRK "On Approval of the Regulation 'On Measures of Influence Applied to Banks and Certain Other Financial and Credit Institutions Licensed by the National Bank of the Kyrgyz Republic'" No. 16/2 of 19 May 2005, registered with the Ministry of Justice of the Kyrgyz Republic on 24 June 2005, registration number 78-05, the following amendments and supplements:

1. The first paragraph of the section "General Provisions" after the words "On Combating the Financing of Terrorism and Legalization (Laundering) of Proceeds from Crime" shall be supplemented with the words ", On Protection of Bank Deposits".

2. In the second paragraph of the section "General Provisions", the words ", OJSC 'Settlement-Savings Company' and KSFC" shall be replaced with the words "and LLC 'Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic'".

3. The fifth paragraph of the section "General Provisions" after the words "On Combating the Financing of Terrorism and Legalization (Laundering) of Proceeds from Crime" shall be supplemented with the words ", On Protection of Bank Deposits".

4. Paragraph 1.1 of section 1 after the words "reducing the risk" shall be supplemented with the words "of depositors and others".

5. Subparagraph 2) of paragraph 6.10.1 after the words "normative legal acts" shall be supplemented with the words "on protection of bank deposits,".

6. In subparagraph 6.13.2 of paragraph 6.13:

• the word "Law" shall be replaced with the word "Laws";

• after the words "On Combating the Financing of Terrorism and Legalization (Laundering) of Proceeds from Crime" shall be supplemented with the words ", On Protection of Bank Deposits".

7. Section 7 shall be supplemented with paragraphs 7.3-7.4 of the following content:

"7.3. A fine on officials and affiliated persons of a bank shall be imposed in accordance with legislation on administrative liability.

7.4. The decision to impose a monetary penalty (fine) on banks shall be taken by the NBRK Supervisory Committee. The decision to impose a fine shall be formalized by a resolution of the NBRK Supervisory Committee, which shall specify the grounds for applying penalty sanctions, the amount of the fine and the time limits for its payment."

8. Paragraphs 7.3-7.4 of section 7 shall be considered paragraphs 7.5-7.6, respectively.

9. Paragraph 7.3 shall be restated as follows:

"7.5. A fine on a bank shall be set in an amount not exceeding one percent of the bank's paid-in authorized capital for each specific violation of the requirements of the legislation of the Kyrgyz Republic."

10. In paragraph 7.5:

• the first sentence shall be excluded;

• in the second sentence, the words "MJ KR No. 93-04 of 23.08.04" shall be replaced with the words "MJ KR No. 16-05 of 01.02.05".

11. Section 7 shall be supplemented with paragraph 7.8 of the following content:

"7.8. For non-compliance with reserve requirements, a fine shall be imposed in accordance with the 'Regulation on Mandatory Reserves' approved by Resolution of the Board of the NBRK No. 22/4 of 27 August 2004 (registration number MJ KR 108-04 of 05.10.04)."

12. Paragraph 7.8 of section 7 shall be considered paragraph 7.9.

13. In Annex 1:

• in paragraph 1, the word "supervision" shall be replaced with the word "control";

• Note 1 shall be excluded;

• Note 2 shall be restated as follows:

"(1) According to the Instruction 'On Requirements for Operations of Banks with Insiders and Affiliated Persons' (approved by Resolution of the Board of the NBRK No. 34/10 of 10.12.2003, registration number MJ KR 2-04 of 05.01.2004)."

14. In Annex 2:

• in the preamble, the words "Administrative Code of the Kyrgyz Republic" shall be replaced with the words "On Protection of Bank Deposits";

• in the column "Proposed monetary fine" of part 2 of the Matrix for Applying Monetary Fines, the words "10 minimum wages" and "20 minimum wages" shall be replaced with the words "10 calculated indicators" and "20 calculated indicators", respectively.