Resolution of the Board of the National Bank of the Kyrgyz Republic No. 75/1 of 7 December 2015 on the Amounts of Required Reserves of Commercial Banks

REPEALED in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic No. 78/7 of 23 December 2015

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

No. 75/1 of 7 December 2015

On the Amounts of Required Reserves of Commercial Banks

In accordance with Articles 7, 22 and 43 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic" and the Regulation "On Required Reserves", approved by resolution of the Board of the National Bank of the Kyrgyz Republic No. 8/2 of 19 March 2010, the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

1. To establish the following amounts of required reserves for liabilities included in the reserve calculation base:

• for liabilities in the national currency - at the level of 4.0 percent of the amount of liabilities in the national currency included in the calculation base;

• for liabilities in foreign currency - at the level of 12.0 percent of the amount of liabilities in foreign currency included in the calculation base.

2. The amount of required reserves shall be calculated as the sum of required reserves for liabilities in the national currency and required reserves for liabilities in foreign currency.

3. The Legal Department shall:

• 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 Normative Legal Acts of the Kyrgyz Republic.

4. This resolution enters into force on 14 December 2015.

5. To repeal resolution of the Board of the National Bank of the Kyrgyz Republic "On the Amounts of Required Reserves of Commercial Banks" No. 60/1 of 5 October 2015.

6. The Economic Department, together with the Financial Statistics and Review Department, shall bring this resolution to the attention of commercial banks.

7. Control over the implementation of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Kyrgyz Republic N. Zhenish.

Chairman	T. Abdygulov