Resolution of the Board of the National Bank of the Republic of Kazakhstan No. 118 on Establishing Minimum Reserve Requirement Norms

REPUBLICAN STATE INSTITUTION
"NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN"		RESOLUTION OF THE BOARD

On Establishing Norms

of Minimum Reserve Requirements

(With amendments and additions:

1. Resolution of the Board of the NB RK dated 25.07.2025 No. 44;
2. Resolution of the Board of the NB RK dated 31.03.2026 No. 30)

In accordance with Part One of Article 32 of the Law of the Republic of Kazakhstan "On the National Bank of the Republic of Kazakhstan", the Board of the National Bank of the Republic of Kazakhstan RESOLVES:

1. During the periods of formation of reserve assets until April 13, 2026 (inclusive), establish for second-tier banks and branches of non-resident banks of the Republic of Kazakhstan (hereinafter – the bank) minimum reserve requirement norms in the amount of:

1) 3.5 (three and five tenths) percent for the first and second categories of the bank's liabilities in national currency;

2) 3.5 (three and five tenths) percent for the third category of the bank's liabilities in national currency;

3) 10 (ten) percent for the first and second categories of the bank's liabilities in foreign currency;

4) 10 (ten) percent for the third category of the bank's liabilities in foreign currency.

1-1. During the periods of formation of reserve assets from April 14, 2026, to August 31, 2026 (inclusive), establish for banks minimum reserve requirement norms in the amount of:

1) 5 (five) percent for the first and second categories of the bank's liabilities in national currency;

2) 3.5 (three and five tenths) percent for the third category of the bank's liabilities in national currency;

3) 12 (twelve) percent for the first and second categories of liabilities in foreign currency of the bank of the first group;

4) 15 (fifteen) percent for the first and second categories of liabilities in foreign currency of the bank of the second group;

5) 10 (ten) percent for the third category of the bank's liabilities in foreign currency.

For the purposes of this Resolution, banks of the first group refer to banks that, based on the results of 2025, ensured a total growth of at least 20 (twenty) percent for the following assets:

loans to business entities (non-financial organizations – residents of the Republic of Kazakhstan, legal entities and individual entrepreneurs who received loans for business purposes);

state securities of the Ministry of Finance of the Republic of Kazakhstan and local executive bodies of the Republic of Kazakhstan;

corporate securities of quasi-state sector entities (Joint Stock Company "National Management Holding "Baiterek", Joint Stock Company "National Wealth Fund "Samruk-Kazyna" and their subsidiaries, Joint Stock Company "Kazakhstan Stability Fund");

corporate securities of other resident issuers of the Republic of Kazakhstan that are not financial organizations.

Banks that, as of January 1, 2025, did not have assets specified in Part Two of this paragraph, as well as banks not classified as banks of the first group, are classified as banks of the second group.

For a bank created in 2025 as a result of the voluntary reorganization of a microfinance organization in the form of conversion into a bank, the calculation of the total growth of assets for 2025 is carried out based on the volumes of the corresponding assets of the microfinance organization as of January 1, 2025.

The National Bank of the Republic of Kazakhstan notifies the bank of its classification into the corresponding group, indicating the indicators used and the calculation results.

1-2. During the periods of formation of reserve assets from September 1, 2026, establish for banks minimum reserve requirement norms in the amount of:

1) 5 (five) percent for the first and second categories of the bank's liabilities in national currency;

2) 3.5 (three and five tenths) percent for the third category of the bank's liabilities in national currency;

3) 15 (fifteen) percent for the first and second categories of the bank's liabilities in foreign currency;

4) 10 (ten) percent for the third category of the bank's liabilities in foreign currency.

1-3. Establish for organizations carrying out certain types of banking operations, having the right to accept deposits, open and maintain bank accounts of individuals and/or legal entities, and having access to operations of the National Bank of the Republic of Kazakhstan, and the National Postal Operator (hereinafter – the organization) minimum reserve requirement norms in the amount of:

1) 5 (five) percent for the first and second categories of the organization's liabilities in national currency;

2) 3.5 (three and five tenths) percent for the third category of the organization's liabilities in national currency;

3) 15 (fifteen) percent for the first and second categories of the organization's liabilities in foreign currency;

4) 10 (ten) percent for the third category of the organization's liabilities in foreign currency.

The norms established by this paragraph apply to the National Postal Operator, unless otherwise provided by paragraph 1-4 of this Resolution.

1-4. If on the date of completion of the period for determining minimum reserve requirements one hundred percent of the share package of the National Postal Operator belongs directly or indirectly to the state, establish for the National Postal Operator minimum reserve requirement norms in the amount of:

1) 3.5 (three and five tenths) percent for the first, second, and third categories of liabilities of the National Postal Operator in national currency;

2) 10 (ten) percent for the first, second, and third categories of liabilities of the National Postal Operator in foreign currency.

2. Establish for banks and organizations regarding which there is a court decision that has entered into legal force on the conduct of restructuring, until the entry into legal force of the court decision on the termination of restructuring, minimum reserve requirement norms in the amount of 0 (zero) percent for all liabilities of the bank and organization.

1. Recognize as having lost force the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated March 20, 2015 No. 39 "On Establishing Norms of Minimum Reserve Requirements" (registered in the Registry of State Registration of Normative Legal Acts under No. 10985, published on May 18, 2015 in the informational and legal system of normative legal acts of the Republic of Kazakhstan "Adilet").
2. The Monetary and Credit Policy Department (Tutushkin V.A.) shall ensure, in the manner established by the legislation of the Republic of Kazakhstan:
3. jointly with the Legal Department (Sarsenova N.V.) the state registration of this Resolution in the Ministry of Justice of the Republic of Kazakhstan;
4. within ten calendar days from the date of state registration of this Resolution, its sending in Kazakh and Russian languages to the Republican State Enterprise on the right of economic management "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan for official publication and inclusion in the Reference Control Bank of Normative Legal Acts of the Republic of Kazakhstan;
5. posting this Resolution on the official
internet resource of the National Bank of the Republic of Kazakhstan after its official publication;
6. within ten working days after the state registration of this Resolution, submission to the Legal Department of information on the implementation of measures provided for in sub-paragraphs 2), 3) of this paragraph and paragraph 5 of this Resolution.
7. The External Communications Department - Press Service of the National Bank (Adambaeva A.R.) shall ensure, within ten calendar days after the state registration of this Resolution, the sending of its copy for official publication in periodic print editions.
8. Control over the implementation of this Resolution shall be entrusted to the Deputy Chairman of the National Bank of the Republic of Kazakhstan Abylkasimova M.E.
9. This Resolution is subject to official publication and enters into force on August 13, 2019.

Chairman

of the National Bank E. Dosayev