Law of Kyrgyz Republic on the "National Bank of Kyrgyz Republic" (Part 2)
This document provides the law of the National Bank of Kyrgyzstan (NBK) on the relations between the NBK and other banks.
The articles of the regulation are categorized and these provide information on the:
Loans granted to other banks: The procedure for and terms of lending shall be established by board of directors of NBK and the loans will be granted in the following situations:
- To support the liquidity of the banks;
- In emergency situations.
Arrangement of settlements: To ensure normal operation of the payment system of Republic, the NBK shall:
- Execute inter-bank payments;
- Bear the responsibility for prompt execution of payments made through NBK.
Banking regulation and supervision: The bank shall supervise the practices of banks and other financial and credit institutions in order to:
- Maintain a stable financial system;
- Support and protect the interests of depositors and other creditors;
- Ensure observance of the laws of the bank of Kyrgyzstan.
Economic standards set by the bank of Kyrgyzstan: A list of the economic standards the NBK has established and declared in accordance with the international standards.
Preventive measures and sanctions used by the bank of Kyrgyzstan: The measures used by NBK in case of violation of:
- Economic standards;
- Banking laws;
- Regulations and instructions of NBK.
