On Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Interim Regulation "On Criteria for Selecting a Settlement Agent for the Project to Integrate the National Payment Card System "Elcart" with National/International Payment Systems of Other Countries" of 16 August 2017 No. 2017-P-14/34-2-(NPA)"

In accordance with Articles 20 and 68 of the Law "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity", the Law "On the Payment System of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

To introduce the following amendments and additions to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Interim Regulation "On Criteria for Selecting a Settlement Agent for the Project to Integrate the National Payment Card System "Elcart" with National/International Payment Systems of Other Countries" of 16 August 2017 No. 2017-P-14/34-2-(NPA):

in the Interim Regulation "On Criteria for Selecting a Settlement Agent for the Project to Integrate the National Payment Card System "Elcart" with National/International Payment Systems of Other Countries", approved by the above-mentioned resolution:

to restate subparagraph 3 of paragraph 1 of Chapter 4 as follows:

"3) have a portfolio of government securities and securities of the National Bank with a maturity of not less than 3 (three) months (excluding the pledged portfolio), which must be not less than the average monthly value of turnovers in the national "Elcart" system (the sum of turnovers for each day of the previous month/number of days in the previous month when there were payments);";

to supplement Chapter 5 with paragraph 3 as follows:

"3. The calculation of the average value of turnovers for the month shall be carried out by the Closed Joint-Stock Company "Interbank Processing Center" 1 (one) time per month on the basis of data for the previous month, and by the 5th day of the month following the reporting month the relevant information shall be sent to the National Bank and the commercial bank for further use by the commercial bank - settlement agent during the reporting month to comply with the requirement specified in subparagraph 3 of paragraph 1 of Chapter 4 of this Interim Regulation.".

This resolution shall enter into force upon the expiry of fifteen days from the day of its official publication.
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.

The Payment Systems Department shall bring this resolution to the attention of the structural subdivisions, regional departments and the representative office of the National Bank in Batken Region, commercial banks of the Kyrgyz Republic and the Closed Joint-Stock Company "Interbank Processing Center".
Control over the execution of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Kyrgyz Republic L.J. Orozbaeva.


Acting Chairman of the Board of the National Bank of the Kyrgyz Republic		N. Zhenish