Resolution of the Board of the National Bank of the Republic of Kazakhstan on Amendments to Resolution No. 240 on Rules for Classifying Financial Organizations as Systemically Important

«REPUBLIC OF KAZAKHSTAN NATIONAL BANK» REPUBLICAN STATE INSTITUTION		REPUBLICAN STATE INSTITUTION "NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN"
RESOLUTION OF THE BOARD August 27, 2022 Nur-Sultan city		RESOLUTION OF THE BOARD No. 65 Nur-Sultan city

On Amendments to Resolution No. 240 of the Board of the National Bank of the Republic of Kazakhstan dated December 23, 2019 "On Approval of the Rules for Classifying Financial Organizations as Systemically Important"

The Board of the National Bank of the Republic of Kazakhstan RESOLVES:

1. Make the following amendments and additions to Resolution No. 240 of the Board of the National Bank of the Republic of Kazakhstan dated December 23, 2019 "On Approval of the Rules for Classifying Financial Organizations as Systemically Important" (registered in the Registry of State Registration of Normative Legal Acts under No. 19925):

rephrase the preamble as follows:

"In accordance with 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:";

in the Rules for Classifying Financial Organizations as Systemically Important approved by said resolution:

rephrase paragraph 14 as follows:

"14. The National Bank, based on data as of October 1 of the year preceding the approval of the list of systemically important financial organizations, forms the list of systemically important financial organizations.";

add paragraphs 17 and 18 with the following content:

"17. Amendments to the approved list of systemically important financial organizations are permitted in case of a decrease in the asset amount of a systemically important bank by 50% (fifty percent) or more from the date specified in paragraph 14 of the Rules, based on a petition from the authorized body for regulation, control, and supervision of the financial market and financial organizations confirming such change.

Upon receipt of the petition from the authorized body for regulation, control, and supervision of the financial market and financial organizations, the National Bank shall calculate the average value of the indicators specified in paragraphs 5, 6, 7, and 8 of the Rules for 2 (two) consecutive quarters preceding the calculation date within 20 (twenty) working days.

18. Amendments to the approved list of systemically important financial organizations in accordance with paragraph 17 of the Rules are made by an order of the Chairman of the National Bank or the person acting in his stead, which enters into force from the day of signing.

Information regarding the change in the list of systemically important financial organizations is brought to the attention of interested financial organizations and the authorized body for regulation, control, and supervision of the financial market and financial organizations within a period not exceeding 5 (five) working days from the day of signing the order.".

2. The Department of Financial Stability and Research (Kubenbayev O.M.) shall ensure, in the manner established by the legislation of the Republic of Kazakhstan:

1) together with the Legal Department (Kasenov A.S.), state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on the official Internet resource of the National Bank of the Republic of Kazakhstan after its official publication;

3) submission to the Legal Department of information on the implementation of the measure provided for in subparagraph 2) of this paragraph within ten working days after the state registration of this resolution.

3. Control over the implementation of this resolution[1] shall be entrusted to the Deputy Chairman of the National Bank of the Republic of Kazakhstan Baymagambetov A.M.

4. This resolution shall enter into force from the day of its first official publication.

Chairman	G.O. Pirmatov

"AGREED"

Agency of the Republic of Kazakhstan

for regulation and development

of the financial market

1. On Amendments to Resolution No. 240 of the Board of the National Bank of the Republic of Kazakhstan dated December 23, 2019 "On Approval of the Rules for Classifying Financial Organizations as Systemically Important" ↑