The NBKR adopted a resolution that eases the requirements for the classification of loans of non-banking organizations
According to the press service of the National Bank of the Kyrgyz Republic, on June 17, the Board of the National Bank of the Kyrgyz Republic adopted a resolution No. 2020-P-33 / 35-1- (NFKU) “On Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic”.
This resolution was adopted in order to soften the requirements for the classification of loans of non-banking financial and loan organizations (hereinafter – NBFLOs).
In particular, the resolution provides for easing the requirements for the classification of assets under supervision and substandard assets of NBFLOs, for the classification of parallel loans of borrowers in one NBFLO, etc.
The Resolution also amended the “Procedure for the application of a special classification of loans that meet certain criteria” and “Temporary rules for the classification of assets and the implementation of appropriate deductions to the reserve to cover potential losses and losses by commercial banks”.