BISHKEK, Kyrgyzstan, February 20. Employees of
the National Bank of Kyrgyzstan (NBK) took part in a working visit
to Austria and the Czech Republic, organized with the support of
the World Bank, during which they held a series of meetings with
representatives of European financial institutions and the banking
sector, Trend
reports via the NBK.
As part of the visit, the NBK delegation held talks with
representatives of the Oesterreichische Nationalbank, the Česká
národní banka, Raiffeisen Bank International AG, and Erste Group
Bank AG, as well as the Austrian Bankers' Association
(Bankenverband).
The key focus of the meetings was the practical application of
the SREP (Supervisory Review and Evaluation Process) methodology, a
supervisory assessment and review process widely used in European
Union countries.
Furthermore, the parties discussed the integration of
supervisory tools into existing banking regulation practices, as
well as issues related to the organization of internal supervisory
processes and the formulation of final supervisory assessments.
Particular attention was paid to interaction between the
regulator and supervised institutions, the development of a
risk-based approach, and information exchange. European
counterparts shared their experience in implementing SREP,
including the use of stress testing, the development of
macroprudential regulation, and the improvement of risk assessment
procedures.
The National Bank of the Kyrgyz Republic (NBK), founded in 1991,
serves as the central bank of Kyrgyzstan. Its key responsibilities
include ensuring price stability, overseeing the banking system,
and issuing the national currency, the som. It functions
autonomously from the government, overseeing monetary policy,
foreign exchange, and gold reserves to maintain economic
stability.
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