Capital of systemically important banks should be 2 billion soms by July 2023
The National Bank of Kyrgyzstan submitted for public discussion a draft resolution of the Board of the National Bank of the Kyrgyz Republic on the minimum amount of authorized and own (regulatory) capital of commercial banks.
The draft resolution proposes to establish requirements for the formation of the minimum amount of authorized and own (regulatory) capital. They will apply to both newly created and existing banks (including the requirement for the capital of branches of foreign banks).
The authorized capital of banks is proposed to be at least 1 and 2 billion soms (for systemically important banks).
For existing banks, the requirements to increase the minimum amount of authorized and own (regulatory) capital are proposed to be implemented in stages:
- By July 1, 2024 — 800 million soms;
- By July 1, 2026 — 1 billion soms.
As for systemically important banks, it is proposed to establish requirements to increase the minimum amount of authorized and own (regulatory) capital to 2 billion soms by July 1, 2023. If the bank becomes systemically important, then within one year from the date of notification by the National Bank of compliance with the criteria for systemic importance, the bank must bring the amount of the authorized capital to the established requirement. At the same time, the own (regulatory) capital of such a bank must be brought to the established amount within 3 (three) months from the date of notification of the bank by the National Bank of compliance with the systemic importance criteria.
