Resolution of the National Bank of the Kyrgyz Republic No. 2022-P-09/78-12 of December 14, 2022 on Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of December 14, 2022 No. 2022-P-09/78-12-(NPA)

On Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

In accordance with Articles 5, 9 and 64 of the Constitutional 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 amendments to the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

• "On Approval of the Regulation "On the Issue, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/6;

• "On Approval of the Regulation "On the Overnight Credit of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/7;

• "On Approval of the Regulation "On the Intraday Credit of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/8;

• "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 Purposes" dated November 27, 2013 No. 45/13;

• "On Approval of the Regulation "On the 7-Day Credit of the National Bank of the Kyrgyz Republic" dated January 29, 2014 No. 2/5;

• "On Approval of the Regulation "On the Provision of Credits by the National Bank of the Kyrgyz Republic to International Organizations Created by the Kyrgyz Republic in Cooperation with Other States within the Eurasian Economic Union" dated August 19, 2015 No. 45/1;

• "On Approval of the Regulation "On Liquidity Support Credit" dated September 3, 2015 No. 50/1;

• "On Approval of the Regulation "On Last Resort Credit" dated June 14, 2017 No. 2017-P-09/24-6-(NPA);

• "On Approval of the Regulation "On the Provision of Credit to the Deposit Insurance Agency of the Kyrgyz Republic" dated August 15, 2018 No. 2018-P-09/33-1-(NPA).

2. This Resolution shall enter into force after the expiration of fifteen days from the date of official publication.

3. The Legal Department:

• within 3 (three) working days from the date of receipt of the relevant documents, 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.

4. The Monetary Operations Department shall, within 3 (three) working days, bring this Resolution to the attention of commercial banks, the Social Fund of the Kyrgyz Republic, the State Accumulative Pension Fund under the Social Fund of the Kyrgyz Republic, the Deposit Insurance Agency of the Kyrgyz Republic, CJSC "Central Depository", relevant structural subdivisions of the National Bank of the Kyrgyz Republic, regional departments, and the branch of the National Bank of the Kyrgyz Republic in the Batken Region.

5. Control over the execution of this Resolution shall be entrusted to the Member of the Board of the National Bank of the Kyrgyz Republic overseeing the Monetary Operations Department.

Chairman of the National Bank of the Kyrgyz Republic		K. Bokontayev

		Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 14, 2022 No. 2022-P-09/78-12-(NPA)

Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

1. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Issue, Placement, Circulation and Redemption of Notes of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/6 as follows:

in the Regulation on the issue, placement, circulation and redemption of notes of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figures "18, 25, 26 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words and figures "6, 13 and 26 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in paragraph 4, replace the word "Government" with the words "Cabinet of Ministers".

2. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Overnight Credit of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/7 as follows:

in the Regulation on overnight credit of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figures "18 and 53 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words and figures "6 and 17 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in paragraphs 5 and 26, replace the word "Government" with the words "Cabinet of Ministers".

3. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Intraday Credit of the National Bank of the Kyrgyz Republic" dated March 28, 2013 No. 10/8 as follows:

in the Regulation on intraday credit of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figures "18 and 53 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words and figures "6 and 17 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in paragraph 5, replace the word "Government" with the words "Cabinet of Ministers".

4. Make amendments 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 Purposes" dated November 27, 2013 No. 45/13 as follows:

in the Regulation on the procedure for conducting credit auctions by the National Bank of the Kyrgyz Republic for refinancing and liquidity support purposes, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figures "18, 25 and 53 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words "in accordance with Articles 6, 16 and 17 of the Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in sub-paragraph 2 of paragraph 41, replace the word "Government" with the words "Cabinet of Ministers";

in Appendix 5 to the General Agreement on credit auctions, to the aforementioned Regulation:

• in the preamble and in the first sentence of paragraph 1.2, replace the word "Government" with the words "Cabinet of Ministers".

5. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the 7-Day Credit of the National Bank of the Kyrgyz Republic" dated January 29, 2014 No. 2/5 as follows:

in the Regulation on the 7-day credit of the National Bank of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figures "18 and 53 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words and figures "6 and 17 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in paragraph 5, replace the word "Government" with the words "Cabinet of Ministers";

• in paragraph 42, replace the word "Government" with the words "Cabinet of Ministers".

6. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Provision of Credits by the National Bank of the Kyrgyz Republic to International Organizations Created by the Kyrgyz Republic in Cooperation with Other States within the Eurasian Economic Union" dated August 19, 2015 No. 45/1 as follows:

in the Regulation on the provision of credits by the National Bank of the Kyrgyz Republic to international organizations created by the Kyrgyz Republic in cooperation with other states within the Eurasian Economic Union, approved by the aforementioned Resolution:

• in the title of the Regulation and in paragraph 1, exclude the words "within the Eurasian Economic Union";

• in paragraph 2, replace the words "18 and 44 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words "6 and 32 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• rephrase paragraph 6 as follows:

"6. A decision on the provision of credit, the terms of provision and the volume of credit are adopted by the Board of the National Bank. The total volume of credit provided to the Organization must not exceed more than fifteen percent of the Organization's paid-in charter capital.";

• in paragraph 9:

1. in the second sentence, exclude the words "or state securities of the Kyrgyz Republic";

2. in the third sentence, exclude the words "type and other parameters";

• in the second paragraph of paragraph 14, exclude the words "Eurasian Economic Union";

• in the second sentence of paragraph 18, exclude the words "or state securities of the Kyrgyz Republic,";

• in paragraph 23, replace the words "(Appendices 2, 3 to the General Agreement)" with "(Appendix 2 to the General Agreement)";

in Appendix 1 to the aforementioned Regulation:

• in the title and in the preamble, exclude the words "within the Eurasian Economic Union";

• in the second sentence of paragraph 3.1, exclude the words ", or state securities of the Kyrgyz Republic,";

• in the second sentence of paragraph 3.2, exclude the words "or state securities of the Kyrgyz Republic,";

• in paragraph 9.4, exclude the figure "3";

in Appendix 1 to the General Agreement on credits granted to international organizations created by the Kyrgyz Republic in cooperation with other states within the Eurasian Economic Union:

• in the title and in paragraph 1, exclude the words "within the Eurasian Economic Union";

• in paragraph 4.1, exclude the words ", or state securities of the Kyrgyz Republic,";

in Appendix 2 to the General Agreement on credits granted to international organizations created by the Kyrgyz Republic in cooperation with other states within the Eurasian Economic Union:

• in paragraph 1.1 and in sub-paragraph 4 of paragraph 2.1.2, exclude the words "within the Eurasian Economic Union";

• exclude the words "within the Eurasian Economic Union";
  deem Appendix 3 to the General Agreement on credits granted to international organizations created by the Kyrgyz Republic in cooperation with other states within the Eurasian Economic Union to have lost force;

in Appendix 2 to the aforementioned Regulation:

• in paragraph 1.1, exclude the words "within the Eurasian Economic Union".

7. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Liquidity Support Credit" dated September 3, 2015 No. 50/1 as follows:

in the Regulation on liquidity support credit, approved by the aforementioned Resolution:

• in paragraph 2, replace the words "with the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words "with Articles 6 and 17 of the Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in sub-paragraph 1 of paragraph 14, replace the word "Government" with the words "Cabinet of Ministers";

• in paragraph 23, replace the word "Government" with the words "Cabinet of Ministers";

in Appendix 3 to the aforementioned Regulation:

• in paragraph 3.2, replace the word "Government" with the words "Cabinet of Ministers".

8. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Last Resort Credit" dated June 14, 2017 No. 2017-P-09/24-6-(NPA) as follows:

in the Regulation on last resort credit, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figures "17, 18 and 53 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words and figures "6, 16 and 17 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in sub-paragraph 1 of paragraph 19, replace the word "Government" with the words "Cabinet of Ministers";

• in paragraph 31, replace the word "Government" with the words "Cabinet of Ministers".

9. Make amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Provision of Credit to the Deposit Insurance Agency of the Kyrgyz Republic" dated August 15, 2018 No. 2018-P-09/33-1-(NPA) as follows:

in the Regulation on the provision of credit to the Deposit Insurance Agency of the Kyrgyz Republic, approved by the aforementioned Resolution:

• in paragraph 2, replace the words and figure "18 Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity" with the words and figure "6 Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic";

• in paragraph 13, replace the word "Government" with the words "Cabinet of Ministers";

• in paragraph 15, replace the word "Government" with the words "Cabinet of Ministers";

in Appendix 2 to the aforementioned Regulation:

• in the preamble, replace the word "Government" with the words "Cabinet of Ministers";

• in paragraph 1.2, replace the word "Government" with the words "Cabinet of Ministers".