President of the National Bank of Georgia Adopted Following Orders

• Order # 130/04 on the approval of the rule on Simplified Procedures for the Acquisition of a Significant Share of a Commercial Bank in the Mode of Resolution. Order aims to facilitate the speedy and smooth running of the resolution mode by defining simplified procedures for acquisition of a significant share. The later involves reducing time limits for reviewing the declaration of suitability and simplifying the requirements for information to be submitted for the first time before a final assessment can be made;
• Order was published on the website of Legislative Herald of Georgia on 30 June 2020 and becomes effective on 1 January 2021.
• Order # 132/04 on the approval of the rules for Licensing, Management and Market Exit of the Temporary bank;
• Order was published on the website of Legislative Herald of Georgia on 30 June 2020 and becomes effective on 1 January 2020.
• Order # 128/04 on the approval of the Rule on Valuation of Commercial Bank Assets and Liabilities for the Purposes of the Resolution. Order sets out the rules, procedures and methodology for valuing the assets and liabilities of the Commercial Bank carrying out its business in Georgia and the branch of a foreign bank, as well as qualification requirements for the Appraiser;
• Order was published on the website of Legislative Herald of Georgia on 30 June 2020 and became effective upon publication.
• Order # 131/04 on the approval of the rule on Elaboration and Evaluation of the Commercial Bank Recovery Plan. The order aims to define the main elements of the rehabilitation plan, to establish the requirements related to the process of elaboration of the rehabilitation plan, rehabilitation and preparatory measures, as well as the criteria and rules for the evaluation of the rehabilitation plan by the National Bank of Georgia;
• Order was published on the website of Legislative Herald of Georgia on 30 June 2020 and became effective upon publication.
• Order # 129/04 on the approval of the rule on Definition and Evaluation of the Critical Functions of a Commercial Bank. Order Defines the criteria for identification and evaluation of critical functions of commercial banks and ancillary critical services.
• Order was published on the website of Legislative Herald of Georgia on 30 June 2020 and became effective upon publication.

Source and date of publication: The Legislative Herald of Georgia; 30.06.2020