Resolution of the Board of the National Bank of the Kyrgyz Republic No. 71/7 of November 25, 2015 on Amendments to the Regulation on Credit Auctions for Refinancing and Liquidity Support

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of November 25, 2015 No. 71/7

On Amendments and Additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support" dated November 27, 2013 No. 45/13

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. Make the following amendments and additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support" dated November 27, 2013 No. 45/13 (attached).

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. This Resolution shall enter into force upon the expiration of 15 days from the date of official publication.

4. The Monetary Operations Department shall bring this Resolution to the attention of commercial banks.

5. Control over the implementation of this Resolution shall be entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic N. Zhenish.

Chairman		T. Abdygulov

		Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated November 25, 2015 No. 71/7

AMENDMENTS AND ADDITIONS in the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support" dated November 27, 2013 No. 45/13

Make the following amendments and additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support" dated November 27, 2013 No. 45/13:

in the Regulation "On the Procedure for Conducting Credit Auctions by the National Bank of the Kyrgyz Republic for Refinancing and Liquidity Support", approved by the aforementioned Resolution:

1) in Appendix 1 to the Regulation:

• paragraph 9.3 of the General Agreement on Credit Auction to be worded as follows:
  "9.3. This General Agreement is drawn up in 3 (three) originals in Russian and in 3 (three) copies in Kyrgyz for each of the Parties, having equal legal force. Two copies of this Agreement are kept at the National Bank, one copy is transferred to the Bank."

2) in Appendix 4 to the General Agreement on Credit Auction:

• paragraph 3.3 of the Credit Contract to the General Agreement on Credit Auction to be worded as follows:
  "3.3. Within 5 (five) working days after the expiration of the term for placing credit funds, the Bank is obliged to submit a report on the placement of these funds to the National Bank, indicating each final borrower, including the Non-Fiscal Credit Fund (NFKU), including its name/full name, lending conditions (interest rate, term, direction (sector) of lending, name and amount of collateral) and details of the corresponding credit contract and pledge agreement (number and date) according to Appendix 2 to this Credit Contract."
• The Credit Contract to the General Agreement on Credit Auction to be supplemented with paragraph 3.3-1 of the following content:
  "3.3-1. The Bank must submit a report on the state of the credit portfolio to the National Bank on a monthly basis according to Appendix 3 to this Credit Contract."
• The Credit Contract to the General Agreement on Credit Auction to be supplemented with Appendices 2 and 3 of the following content:

		"Appendix 2 to the Credit Contract dated "_" ______ 20 No. ____

Form 1

REPORT on loans issued from NBKR funds received within the framework of credit auctions

period

bank

in soms/percentages

No.	Auction Code	Credit Contract Number	Loan Issuance Date	Loan Repayment Date	Purpose of the Loan	Economic Sector	Region	Name of Final Borrower	Loan Amount	Interest Rate	Type of Collateral	Collateral Value
1
2
3
…
n
Total

Full Name of Bank Head

signature

seal

		Appendix 3 to the Credit Contract dated "_" ______ 20 No. ____

Monthly by the 5th of the following month

Form 2

REPORT on the state of the credit portfolio issued from NBKR funds within the framework of credit auctions

date

bank

in soms/percentages

Auction Code	Total Volume of Issued Loans by Sector														Outstanding Loan Balance at Start of Period	Outstanding Loan Balance at End of Period	Repayment Volume	New Loan Volume
Industry		Agriculture		Transport, Communications and Services		Trade and Commerce		Construction		Tourism		Lending to NFKU
Amount	Weighted Avg. Rate	Amount	Weighted Avg. Rate	Amount	Weighted Avg. Rate	Amount	Weighted Avg. Rate	Amount	Weighted Avg. Rate	Amount	Weighted Avg. Rate	Amount	Weighted Avg. Rate
1	2														3	4	5 (3-4)	6
AK1
…
AKn
Total

Full Name of Bank Head

signature

seal";

3) in Appendix 7 to the General Agreement on Credit Auction:

• Appendix 2 to the Pledge Agreement of Rights to Claims under Credit Contracts to be worded as follows:

		"Appendix 2 to the Pledge Agreement of Rights to Claims under Credit Contracts dated "_" ______ 20 No. ____

Monthly by the 5th of the following month

Form 3

REPORT on collateral monitoring - claim rights under credit/credit portfolio (as of date), under Credit Contract No. ______ (Auction Code)

period

bank

in soms

Total Amount of Credit Portfolio, including:	Initial Amount of Issued Loan (som)	Debt Amount at Start of Reporting Month (som)	Debt Amount at End of Reporting Month (som)	Loan Classification (som)					Total Value of Collateral (som)
Norm.	Satisf.	Watch	Substan.	Doubt.	Loss
a) loans to industry
b) loans to agriculture, procurement and processing
c) loans to transport, communications and services
d) loans to trade and commercial operations
e) loans to construction
f) loans to tourism
g) loans to individuals (consumer loans)
Total

Full Name of Bank Head

signature

seal";

4) throughout the text of the appendices, replace the abbreviation "NBKR" with the words "National Bank" in the appropriate cases.