Resolution of the Board of the National Bank of the Kyrgyz Republic No. 5/1 of 30 January 2008 on Amending the Instruction on the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic, approved by Resolution of the Board of the National Bank of the Kyrgyz Republic No. 38/11 of 22 August 2007

Registered with the Ministry of Justice of the Kyrgyz Republic

28 February 2008. Registration number 13-08

Bishkek

of 30 January 2008 No. 5/1

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

On Amending the Instruction "On the Procedure

for Making Payments in the System of Batch Clearing

of Small Retail and Regular Payments

in the Kyrgyz Republic", approved by Resolution

of the Board of the National Bank of the Kyrgyz Republic

of 22 August 2007 No. 38/11

In connection with the changed daily schedule at the National Bank of the Kyrgyz Republic, the Board of the National Bank of the Kyrgyz Republic resolves:

1. To amend the Instruction "On the Procedure for Making Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic", approved by Resolution of the Board of the National Bank of the Kyrgyz Republic of 22 August 2007 No. 38/11, registered with the Ministry of Justice of the Kyrgyz Republic on 4 October 2007, registration number 88-07 (attached).

2. The Banking Settlements Department, together with the Legal Department, shall in the established procedure carry out state registration of this resolution with the Ministry of Justice of the Kyrgyz Republic.

3. This resolution enters into force from the moment of official publication after state registration with the Ministry of Justice of the Kyrgyz Republic.

Published in the journal "Normative Acts of the National Bank of the Kyrgyz Republic", No. 4/2008

4. After publication of the registered normative 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. The Banking Settlements Department shall bring this resolution to the attention of commercial banks, OJSC "Settlement-Savings Company", regional departments and the representative office of the National Bank of the Kyrgyz Republic in Batken oblast.

6. Control over the execution of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Kyrgyz Republic Chokoev Z.L.

Chairman of the Board of the National

Bank of the Kyrgyz Republic M. Alapaev

Annex

to the resolution of the Board

of the National Bank

of the Kyrgyz Republic

of 30 January 2008 No. 5/1

AMENDMENTS

to the Instruction "On the Procedure for Making Payments

in the System of Batch Clearing of Small Retail and

Regular Payments in the Kyrgyz Republic"

approved by Resolution of the Board

of the National Bank of the Kyrgyz Republic

of 22 August 2007 No. 38/11

1. Clause 6.1 shall be restated as follows:

"6.1. Regulations of the clearing day

Processing of electronic payment document (EPD) files and messages is carried out in accordance with the regulations of the clearing day, which consists of one clearing session and is divided into the following periods:

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Name of processing period	Time of beginning/end of period	Duration of period
Opening of the clearing day	8:30-8:45	15 minutes
------------------------------	--------------------	-----------------
Receipt and processing of EPD files	8:45-13:30	4 hours 45 minutes
and messages
------------------------------	--------------------	-----------------
Receipt and processing of refused	13:30-13:50	20 minutes
payments
------------------------------	--------------------	-----------------
Pre-clearing period	13:50-14:10	20 minutes
------------------------------	--------------------	-----------------
Clearing period	14:10-14:20	10 minutes
------------------------------	--------------------	-----------------
Conducting final	14:20-14:30	10 minutes
settlement on net positions
of participants
------------------------------	--------------------	-----------------
Closing of the clearing day	14:30-15:00	30 minutes

---

In accordance with the Regulation on the BCS, several clearing sessions may be conducted during the clearing day. If it is necessary to change the regulations of the clearing day (the number of clearing sessions and their periods) at the initiative of the system participants, a corresponding resolution of the Board of the NBKR shall be adopted."