AFS resolution to come into effect, obliging commercial banks to invest more assets in the country

/INTERFAX-KAZAKHSTAN, Almaty, July 1, 08/ - July 1, the resolution of Kazakhstan State Agency on Financial Supervision came into effect, which expand the basis of borrowed and internal funds of banks, subjecting to mandatory offering in assets inside the country. As informed, January 25, 2008 AFS`s Board approved the resolution #8 "On including amends and additions in resolution N262, dated June 2, 2000 "On approving Direction on offering the part of bank's assets in internal funds" of National Bank's Board. According to AFS, the resolution on basis of borrowed liabilities of bank was completed with norm on termless financial instruments and debt securities, issued by bank. "Banks are obliged to offer internal and borrowed funds into internal assets during reporting month in such a way that relation of average monthly amount of internal assets to the sum of average monthly amount of authorized capital, average monthly amount of subordinated debt, average monthly amount of termless financial instruments, average monthly amount of debt securities, issued by bank and average monthly amount of internal liabilities was not less than 1" - is said in AFS`s information. The resolution was approved with the aims to stimulate investments into domestic economy, increasing of financial stability of domestic banks and providing financial stability of bank sector in whole. [2008-07-02]