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NATIONAL BANK OF THE REPUBLIC OF BELARUS

RESOLUTIONof the Board of the National Bank of the Republic of Belarus

30 December 2003 № 226 Minsk

On approving the Instructions on the procedure of provision (placing) of monetary funds by banks in the form of a loan and reimbursing thereof(With due account of amendments and supplements introduced by the following Resolutions of the Board of the National Bank: of 23.03.2004 N 36;of 28.06.2004 № 103;of 28.07.200 № 117; of 30.06.2005 № 95; of 19.10.2006 № 156; of 28.12.2006 № 223;of 26.12.2007 № 227;of 14.07.2009 № 105; of 04.07.2011 № 271;of 10.08.2012 № 409;of 18.01.2013 № 36;of 18.04.2013 № 230of 04.09.2015 № 536)

The Board of the National Bank of the Republic of Belarus on the basis of the provisions of Articles 14, 26, 146 of the Banking Code of the Republic of Belarus

hereby RESOLVES to:1. Approve the enclosed herein Instructions on the procedure of provision

(placing) of monetary funds by banks in the form of a loan and reimbursing thereof.2. Delete the word “current” from Clause 13 of the Instructions for a bank

transfer approved by Resolution of the Board of the National Bank of the Republic of Belarus of 29 March 2001 № 66 (National Register of legal acts of the Republic of Belarus, 2001 , № 49, 8/5770; 2003, № 87, 8/9813).

3. The structural subdivisions of the Central office of the National Bank of the Republic of Belarus should before 1 July 2004 ensure compliance of relevant normative legal acts of the National Bank of the Republic of Belarus with this Resolution.

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(Clause 3 in the wording of Resolution of the National Bank of 23.03.2004 № 36)4. The following documents should be deemed null and void:Resolution of the Board of the National Bank of the Republic of Belarus of 24

May 2001 № 116 ”On approving the Regulations on placing monetary funds by the banks of the Republic of Belarus in the form of loans“ (National Register of legal acts of the Republic of Belarus, 2001, № 61, 8/6239);

Resolution of the Board of the National Bank of the Republic of Belarus of 28 June 2001 № 153 ”On peculiar properties of placing monetary funds by the Banks of the Republic of Belarus in the form of loans and deposits with banks of the Republic of Belarus“ (National Register of legal acts of the Republic of Belarus, 2001, № 79, 8/6447);

Resolution of the Board of the National Bank of the Republic of Belarus of 27 November 2001 № 305 ”On introducing amendments and supplements in/to the Regulations on placing monetary funds by the Banks of the Republic of Belarus in the form of loans”, approved by Resolution of the Board of the National Bank of the Republic of Belarus of 24 May 2001 № 116“ (National Register of legal acts of the Republic of Belarus, 2001 , № 119, 8/7532);

Resolution of the Board of the National Bank of the Republic of Belarus of 27 December 2001 № 332 ”On introducing amendments and supplements in/to the Regulations on placing monetary funds by the Banks of the Republic of Belarus in the form of loans”, approved by Resolution of the Board of the National Bank of the Republic of Belarus of 24 May 2001 № 116“ (National Register of legal acts of the Republic of Belarus, 2002 г., № 19, 8/7714);

Resolution of the Board of the National Bank of the Republic of Belarus of 24 September 2002 № 185 ”On introducing amendments and supplements in/to the Regulations on placing monetary funds by the Banks of the Republic of Belarus in the form of loans”, approved by Resolution of the Board of the National Bank of the Republic of Belarus of 24 May 2001 № 116“ (National Register of legal acts of the Republic of Belarus, 2002 г., № 112, 8/8606);

Resolution of the Board of the National Bank of the Republic of Belarus of 26 December 2002 № 249 ”On introducing amendments and supplements in/to the Regulations on placing monetary funds by the Banks of the Republic of Belarus in the form of loans”, approved by Resolution of the Board of the National Bank of the Republic of Belarus of 24 May 2001 № 116“ (National Register of legal acts of the Republic of Belarus, 2003 г., № 14, 8/8995);

Resolution of the Board of the National Bank of the Republic of Belarus of 6 March 2003 № 39 ”On introducing amendments and supplements in/to the Regulations on placing monetary funds by the Banks of the Republic of Belarus in the form of loans”, approved by Resolution of the Board of the National Bank of the Republic of Belarus of 24 May 2001 № 116“ (National Register of legal acts of the Republic of Belarus, 2003 , № 35, 8/9266);

Letter of the National Bank of the Republic of Belarus of 21 May 1999 № 04-14/350 ”On proposals by banks on updating the normative base“ (National Register of legal acts of the Republic of Belarus, 1999, № 51, 8/446).

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5. This Resolution shall be effective as of 1 July 2004, save Clause 3 of the Resolution and Clause 6 of the enclosed Instructions for placing monetary funds by the banks in the form of loans and reimbursing thereof which shall be effective as of a day when this Resolution is entered in National Register of legal acts of the Republic of Belarus.

(Clause 5 in the wording of Resolution of the Board of the National Bank of 23.03.2004 № 36)

6. The explanations on the procedure of applying the norms contained herein may be given under signature of the Deputy Chairman the Board of the National Bank of the Republic of Belarus, who is involved in directing the activity of the Directorate for banking operations regulation.


Chairman of the Board P.P.Prokopovich

I hereby certify the authenticity of the translation with the original document. Translator A. Kavtsevich

APPROVED BY

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Resolution of the Board of the National Bank of the Republic of Belarusof 30 December 2003 № 226(in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 28.12.2006 № 223)

INSTRUCTIONS

on the procedure of provision (placing) of monetary funds by banks in the form of loans and reimbursing thereof

Chapter 1GENERAL PROVISIONS

1. The Instructions on the procedure of provision (placing) of monetary funds by banks in the form of loans and reimbursing thereof (hereinafter referred to as “the Instructions”) determine the order and terms of provision (placing) of monetary funds monetary funds in BYR and in foreign currencies by banks and non-bank credit and financial institutions (hereinafter referred to as “the Banks”), save the National Bank of the Republic of Belarus (hereinafter referred to as “the National Bank“) in the form of loans to legal entities and individuals and reimbursing thereof.

2. As used herein the below terms have the following meanings:A Loan shall mean raised and/or own monetary funds extended by the Banks to

any other party (a borrower) in the size and under the terms and conditions set out in a relevant loan agreement;

Lending shall mean provision (placing) of a loan by a bank (a lender) on its behalf and for its own account under the terms and conditions of the collection rate, serviceability and maturities with signing between a lender and a borrower (a legal entity, a bank inclusive, or an individual, an individual entrepreneur inclusive) a written loan agreement, including by means of the remote banking systems;

(paragraph three in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 04.09.2015 № 536)

Overdraft Lending means extension of a loan exceeding a balance in a current (settlement) bank account or a correspondent account of a borrower, by a bank transfer or by way of remitting monetary funds by a bank for paying up settlement documents furnished by such borrower, or by way of using such monetary funds as directed by the borrower by using payment instruments (a debit bank card or other instruments), or by dispensing cash

(paragraph four of Clause 2 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 18.01.2013 № 36)

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(paragraph four in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 04.09.2015 № 536);

Overdraft means a debit balance in a current (settlement) bank account or in a correspondent account of a borrower arising during a banking day as a result of overdraft lending;

(paragraph five of Clause 2 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 18.01.2013 № 36)

(paragraph five in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 04.09.2015 № 536)

Lendor’s account means a correspondent account, account of loans extended to a borrower, as well as an interest yield account under the loans extended to a borrower, in accordance with the chart of accounts maintained by banks and non-banking lending and financial institutions of the Republic of Belarus, set out according to Annex 1 to Resolution of the Board of the National Bank of the Republic of Belarus of 29 August 2013 № 506 ”On establishing Charts of Accounts at the banks and non-banking lending and financial institutions of the Republic of Belarus and approving the Instructions on the procedure of applying Charts of Accounts at the banks and non-banking lending and financial institutions of the Republic of Belarus “ (the National Legal Internet portal of the Republic of Belarus , 12.10.2013, 8/27947);

A borrower’s account means a current (settlement) bank account or a correspondent account, an account of loans extended by other banks, in accordance with the chart of accounts maintained by banks and non-banking lending and financial institutions of the Republic of Belarus, set out according to Annex 1 to Resolution of the Board of the National Bank of the Republic of Belarus of 29 August 2013 № 506;

(paragraphs five and six in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 04.09.2015 № 536)

Revolving credit line means a credit line under which it is possible to repeatedly extend a loan (a part thereof) with due account of a previously reimbursed (repaid) loan amount (a part thereof ) within a maximum size (limit) of a loan set out in a relevant loan agreement and/or a size of a debt lump sum thereunder set out in such loan agreement;

(paragraph eight of Clause 2 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 18.01.2013 № 36);

Loan term (revolving credit line period) means a period of time during which a borrower is entitled to raise a loan under a loan agreement;

An Applicant means a legal entity, a bank inclusive, or an individual, an individual entrepreneur inclusive, applying for a loan;

A Lender means a bank which has signed an agreement with a borrower on extending thereto monetary funds (a loan) in a sum and under the terms set out in a relevant loan agreement;

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A Borrower means a legal entity, a bank inclusive, or an individual, an individual entrepreneur inclusive, which/who signed a loan agreement with a lender on raising monetary funds (a loan) in a sum and under the terms set out therein ;

Creditworthiness means the capability of legal entity, a bank inclusive, or an individual, an individual entrepreneur inclusive, to comply in full scope with the provisions of such loan agreement and with the requirements of the laws in effect;

Creditworthiness Scoring means a mathematical or statistical model for assessing creditworthiness the results of which are used by a lender for making a decision on extending a loan.

(paragraphs six – thirteen of Clause 2 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 14.07.2009 № 105)

3. The requirements set out herein shall cover the lending for legal entities, banks inclusive, and individuals, individual entrepreneurs inclusive, involved in the entrepreneurial business both with and without opening current (settlement) bank accounts).

(paragraph 3 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 04.09.2015 № 536)

4. Lending for legal entities with raising external borrowings (loans) shall be done with due account of peculiar properties set out in a relevant international treaty (agreement), interbank loan agreement, individual loan agreement, in other documents containing loan profile, and in accordance with the laws in effect of the Republic of Belarus.


5. For the purposes of the financial and statistical statements, assessing credit exposures, loans are qualified as short-term and long-term ones.

Short-term loans are the loans with a fixed complete repayment period initially set out in a relevant loan agreement, up to one year inclusive, as well as the loans extended under revolving credit lines and overdraft lending, save the loans with a maturity in respect to at least one part of a loan exceeding one year initially fixed in a relevant loan agreement.

Long-term loans are all other loans, save those specified in part two herein.(parts two and three of Clause 5 in the wording of Resolution of the Board of

the National Bank of 26.12.2007 № 227)The short-term and long-term loans to individuals (save individual

entrepreneurs) are qualified as loans for real estate financing and consumer loans.The consumer loans also involve those used for drawing income while doing

businesses which according to the laws in effect are not qualified to be the entrepreneurial business (rendering services in the field of agro-ecotourism, craft business, etc.), and those the intended use of which is not established.

The macrocredits are the credits extended by banks in a streamlined provided a borrower’s debt ratios under such credits (BDR) are not exceeding 15000 base units set forth by law and effective as of a day of signature of a recent loan agreement.

(parts six of Clause 5 in the wording of Resolution of the Board of the National Bank of 14.07.2011 № 105 and of 04.07.2011 № 271)

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BDR is calculated by the following formula:

BDR = ЗК1 + ЗК2 + ... + ЗКi + ЗКЛ1 + ЗКЛ2 + ... + ЗКЛi,

BDR – a borrower’s debt ratio under microcredits;BD - a borrower’s debt under a principal of a lump-sum credit, as well as under

an revolving credit line or overdraft lending at the end of an availability period (an revolving credit line period );

BDL – a limit size of a borrower’s lump-sum debt when opening a credit line or an overdraft limit at overdraft lending, under which the availability period of a credit (a credit line) is not expired.

The loans under which a complete repayment period is extended, from a day of signature of a collateral agreement on extending such period to a relevant loan agreement shall be deemed extended loans, save extending a repayment period at overdraft lending and in other cases set forth by law.

(parts seven and eight of Clause 5 in the wording of Resolution of the Board of the National Bank of 14.07.2009 № 105).

5¹. A size of disbursement interest shall be determined proceeding from a borrower’s expenses related to a loan advancing and repayment known on a day of signature of a relevant loan agreement.

(Clause 5¹ has been introduced by Resolution of the Board of the National Bank of 18.01.2013 № 36).

Chapter 2PROCEDURE OF PROVISION (PLACING) OF MONETARY FUNDS

6. The Bank’s authorized body should approve local normative legal acts which shall contain:

binding conditions and a procedure of placing monetary funds and funding thereof, including the participation of borrowers (for their own funds or those of investors) in implementing credited projects (soft loans inclusive extended within the framework of the programs supported by the Government). In separate cases such authorized body may make a reasoned decision not to determine a share of borrowers (for their own funds or those of investors) in implementing credited investment projects;

(paragraph two in the wording of paragraph 10.08.2012 № 409)a procedure of making a decision on placing monetary funds;a procedure of determining a legal capacity and assessing creditworthiness of

an applicant, a borrower, a new debtor (when transferring a debt under a loan agreement on a third party);

a list of documents to be submitted by an applicant, a borrower, a new debtor (when transferring a debt under a loan agreement on a third party) for raising a loan prior to signature of a loan agreement and during its validity;

a procedure of assessing efficiency of credited projects, including those with Government support;

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(paragraph six of Clause 6 was introduced by Resolution of the Board of the National Bank of 10.08.2012 № 409)

a procedure and cases of supervision over the conditions of a pledged property;a procedure and cases of supervision over intended use of credit;a procedure of generating and keeping a credit history;a streamlined procedure of extending macrocredits (if any);an insignificant sum of liabilities under a loan agreement acknowledged by a

borrower. A sum of liabilities under a loan agreement less than expenses for its levy, however not exceeding a fivefold amount of a base unit set forth by the laws in effect of the Republic of Belarus may be deemed insignificant;

(paragraph eleven of Clause 6 was introduced by Resolution of the Board of the National Bank of 10.08.2012 № 409)

(paragraphs four, five, ten of Clause 6 in the wording of Resolution of the Board of the National Bank of 14.07.2009 № 105)

(paragraph eleven in the wording of Resolution of the Board of the National Bank of от 04.09.2015 № 536)

a procedure of signing a loan agreement by means of remote banking systems, determining inter alia the procedures of advising borrowers of loan terms and conditions, exchange of documents certifying the fact of a loan agreement signature and their forms; a form of keeping loan agreements and signature collateral agreements thereto.

(paragraph twelve was introduced by Resolution of the Board of the National Bank of 04.09.2015 № 536)

6¹. The Bank prior to signature of a loan agreement and a collateral agreement thereto related to amending a sum of a borrower’s money liabilities and (or) a payment date shall be obliged to submit to an applicant (a borrower) – an individual, individual entrepreneur inclusive, in writing, including by means of remote banking systems, the data on credit conditions, including the data on:

(paragraph one of part one in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

a loan amount with the specification of it currency (for a credit line – a maximum size (limit) of a total sum of provided monetary funds (a loan) and (or) a limit size of a lump-sum debt of a borrower);

a period for which a loan may be provided;a size of interest for using a loan, a procedure of determining an interest size

(with the application of either a fixed floating rate of interest);the purposes for which a loan may be used, provided a loan agreement is

provided under terms and conditions of intended use thereof;the ways for procuring the discharge of obligations and liabilities under a loan

agreement, provided it specifies terms and conditions of procuring the discharge of obligations and liabilities thereunder;

an amount of a borrower’s payments broken down by their due dates in accordance with a loan agreement (the payments related to repayment of a loan and

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interest for using thereof). Due dates under a loan may be specified in the form of definite dates or periods of effecting payments;

responsibility of the parties for a failure to comply with the provisions of a loan agreement (improper execution thereof);

an opportunity and terms and conditions of early repayment of a loan;other terms and conditions of extending and repaying a loan, as well as of

paying interest for using thereof.An applicant (a borrower) prior to signature of a loan agreement or a collateral

agreement thereto related to amending a sum (amount) of borrower’s money liabilities and (or) a payment date shall be obliged to submit to a bank a written dated confirmation of familiarization with terms of credit signed in holograph by such applicant (borrower) or by a person authorized thereby, including by means of remote banking systems. Where the Bank reduces a size of interest for using a loan such submitted data on the terms of credit may bear a declarative character.

(paragraph 6¹ was introduced by Resolution of the Board of the National Bank of the Republic of Belarus of 18.01.2013 № 36)

(part two in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

7. Prior to signature of a loan agreement the bank shall be obliged to determine the legal capacity and assess creditworthiness of an applicant whereupon a bank’s relevant duly authorized body or officer shall make a decision on extending a loan to be executed in writing (on a paper carrier or in the form of an electronic document) and signed by such duly authorized officer of the bank. At that a decision on extending a loan made on the basis of creditworthiness scoring shall be executed in the procedure set forth by the bank’s local normative legal acts.

The Bank shall not be entitled to delegate its authority on making a decision on extending a loan or on loan agreement signature to any other legal entities or individuals which/who are not its officers.

The documents submitted by an applicant (a borrower) for obtaining a loan, a loan agreement and other data shall be organized by the bank in a credit history.

(Clause 7 in the wording of Resolutions of the Board of the National Bank of the Republic of Belarus of 14.07.2011 № 105 and of 04.07.2011 № 271)

8. Prior to signature of a loan agreement and within a disbursement period with the periodicity set forth by the bank’s relevant local normative legal act and/or a relevant agreement the bank shall monitor an applicant’s (a borrower’s) overdue debts under previously extended and outstanding loans with other banks, with the Bank for the Development Open Joint Stock Company of the Republic of Belarus, on the basis of the documents submitted by such applicant (borrower) or obtained with their consent in the order set forth by laws.

(part one of Clause 8 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 14.07.2009 № 105)

(part one in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 04.09.2015 № 536)

When extending loans to individuals, save individual entrepreneurs, the overdue debts under previously extended and outstanding loans may not be

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monitored (part two in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

9. The Bank shall not extend a loan to an applicant (a borrower), having a defaulted debt under the loans which were previously extended thereto, the Bank for the Development Open Joint Stock Company of the Republic of Belarus inclusive, save the following cases of lending:

(paragraph one in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

pursuant to legal acts governing the out-of-court turnaround procedure, implementation of the programs of turnaround completion within a protective period and schedules of rehabilitation of debtors in the procedure set out herein;

(paragraph two of Clause 9 in the wording of Resolution of the Board of the National Bank of 18.04.2013 № 230)

pursuant to the normative legal acts of the President of the Republic of Belarus providing for the allowance of credit facilities under which as a security of discharging obligations and liabilities there are granted guarantees of the Government of the Republic of Belarus, local executive and regulatory bodies with no account of borrowers’ overdue debts under such loans;

(paragraph two of Clause 9 in the wording of Resolution of the Board of the National Bank of 26.12.2007 № 227 и от 14.07.2009 № 105)

(paragraph three in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

when developing actions on improving the activity of an applicant, a borrower and on repaying overdue loans, approved by a customer when funding state, regional and sectorial programs in accordance with the Regulations on the procedure of generating, funding and supervising state, regional and sectorial programs approved by Resolution of the Council of Ministers of the Republic of Belarus of 31 March 2009 № 404 (National Register of legal acts of the Republic of Belarus, 2009 , № 93, 5/29550), or by a regulatory bode of an applicant (a borrower)– a legal entity in other cases;

(paragraph four of Clause 9 in the wording of Resolution of the Board of the National Bank of 14.07.2009 № 105)

in accordance with an economically feasible report of the bank’s representatives who pursuant to the laws in effect of the Republic of Belarus were commissioned as spectators over a legal entity’s business;

for construction (rehabilitating) or purchasing accommodation;individuals, where overdue debts are generated at overdraft lending with using

a debit banking card and its validity does no exceed thirty days.(paragraph seven of Clause 9 in the wording of Resolution of the Board of the

National Bank of 18.01.2013 № 36)10. Loans shall be extended in accordance with the provisions of relevant loan

agreements:by bank transfers or crediting borrower’s account, or by way remitting money

in return of payment relevant settlement documents submitted by a borrower, or by way remitting money in accordance with a borrower’s instructions;

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by dispensing cash to a borrower – an individual or individual entrepreneur , save individual entrepreneurs involved in the entrepreneurial business with opening current (settlement ) bank accounts.

(paragraph three in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

11. Clause 11 is deleted (Resolution of the Board of the National Bank of 14.07.2009 № 105).

12. Bank’s liability to extend a loan shall arise as of a day of signature of a loan agreement or when it becomes due as set out in a loan agreement provided it has been signed with a condition precedent.

When extension of a loan is effected by way of opening a credit line a bank liability to extend a loan shall arise in amount not exceeding a limit size of a borrower’s lump-sum indebtedness. In the event that a loan agreement for a credit line set out only a loan maximum size (limit) a bank liability to extend a loan shall arise in amount not exceeding a total amount of a loan to be extended.

(part two of Clause 12 in the wording of Resolution of the Board of the National Bank of the Republic of Belarus of 18.01.2013 № 36)

At overdraft lending a bank liability to extend a loan shall be recorded in accounting books in an amount not exceeding an overdraft limit.

Part four of Clause 12 is deleted (Resolution of the Board of the National Bank of 14.07.2009 № 105).

13. The overdraft lending shall be effected with specifying an overdraft limit and loan maturity.

At overdraft lending there may be signed a combined agreement containing the provisions of both a bank account agreement and loan agreement.

An overdraft shall be closed by the Bank daily with recording the fact of a loan extension in account books.

14. At a syndicated lending the participating banks shall combine their monetary resources through an agent bank. The lending shall be effected on the basis of a syndicated loan agreement signed between such agent bank and a borrower.

Syndicated loans shall be extended to one borrower by several participating banks within the framework of a unified syndicated loan agreement signed between such participating banks and a borrower.

The relations between the participating banks of the syndicated (participation) lending may be governed by a simple partnership agreement (a joint-cooperation agreement), by other agreements not conflicting with the laws in effect of the Republic of Belarus.

(part three of Clause 14 was introduced by Resolution of the Board of the National Bank of the Republic of Belarus 10.08.2012 № 409)

15. At interbank lending there may be signed a general (framework) agreement on multiple provision of funds, including those with no or partial movement on accounts, which are fixing:

(paragraph one in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

general provisions for all loan agreements signed between the parties;

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requirements to documents binding for the parties, which are to be exchanged when signing loan agreements;

communication channels used when conducting negotiations and a procedure of conducting thereof;

a procedure of exchange and identification of documents (SWIFT, telex, E-mail, electronic signature, etc.);

a procedure of effecting operation without or with partial movement on accounts;

(paragraph six was introduced by Resolution of the Board of the National Bank of 04.09.2015 № 536)

other terms and conditions related to which an agreement must be reached as per request of one of the parties.

(part two of Clause 15 is deleted by Resolution of the Board of the National Bank of 18.01.2013 № 36)

16. When pledging property a pledgor may be both a legal entity and an individual himself/herself and another legal entity or an individual, save a lending bank.

Lending bank’s shares shall not be allowed to be used as a security of discharging obligations and liabilities under a loan agreement.

Chapter 3LOAN REPAYMENT AND INTEREST PAYMENT PROCEDURE

17. A loan shall be repaid and loan interest shall be paid both by bank transfers to borrower’s account and in cash to a cash desk in accordance with a relevant loan agreement and the laws in effect of the Republic of Belarus.

Individual entrepreneurs carrying out entrepreneurial activities without opening current (settlement) bank accounts, may repay a loan, pay loan interest in cash to a borrower’s cash desk with no limits in respect to payment amounts.

(the part in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

A day when cash is paid to a borrower’s cash desk shall be deemed a repayment date.


18. Where a borrower fails to fulfill its liabilities on loan repayment, including early repayment of a loan in the case set out in Clause 26 below, and on paying interest thereon an indebtedness for a next business day on expiry of a period for its repayment shall be recorded in the accounting books in relevant overdue debt accounts.

(part one of Clause 18 in the wording of Resolution of the Board of the National Bank of 18.01.2013 № 36)

(part one in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

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When lending is effected with the use of bank payment cards another period of indebtedness presenting in overdue debt accounts may be fixed in a loan agreement.

(part one of Clause 18 in the wording of Resolution of the Board of the National Bank of 18.01.2013 № 36)

19. With consent of a lending bank a borrower may sign a debt transfer agreement under a loan agreement on any third party pursuant to the laws in effect of the Republic of Belarus.

While complying with the requirements set forth by the laws in effect of the Republic of Belarus a borrower may sign with a bank an agreement on assigning its demand to a third party in respect to which such borrower is a lender.

A lending bank shall be obliged to verify legal capacity and assess cretitworthiness of such new debtor.

(part three of Clause 19 in the wording of Resolution of the Board of the National Bank of 18.01.2013 № 36)

20. The discharge of obligations and liabilities under a loan agreement may be imposed by a borrower on any third party pursuant to the laws in effect of the Republic of Belarus.

21. Except as otherwise expressly provided by the laws in effect of the Republic of Belarus borrower’s obligations and liabilities under a loan agreement may be terminated in agreement between a bank and a borrower either completely or partially by way of providing the bank in lieu of discharging thereof with a commercial severance pay, set-off or by other ways provided for by the laws in effect of the Republic of Belarus.

Where a sum of a borrower’ liabilities under a loan agreement is insignificant they shall be terminated by the decision of the bank’s authorized body to sponge a debt.

(part two of Clause 14 was introduced by Resolution of the Board of the National Bank of 10.08.2012 № 409)

(part two in the wording of Resolution of the Board of the National Bank of 04.09.2015 № 536)

The liabilities of the parties under a loan agreement at interbank lending may be terminated in a procedure set out in a general (framework) agreement on multiple provision of monetary funds and/or in loan agreements with no movement or with partial movement of monetary funds on accounts by way of signing by the parties thereof a new loan agreement on a loan repayment date and interest payment date under a previously signed loan agreement.

(part three was introduced by Resolution of the Board of the National Bank of 04.09.2015 № 536)

22. The Bank shall be entitled to assign receivables to any other legal entity, a bank inclusive, by signing with it an assignment agreement in accordance with the laws in effect of the Republic of Belarus.

23. In the event that a borrower fails to discharge or improperly discharges its liabilities to a bank under a loan agreement a debt shall be repaid (recovered) in the

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procedure set out in a relevant loan agreement pursuant to the laws in effect of the Republic of Belarus.

24. A loan agreement provisions, including granting of indulgence (payment by installments), in debt repayment under a loan agreement shall be amended on the basis of a collateral agreement thereto.

25. By the decision of the Bank’s authorized body an accrual of interest on credit may be suspended or terminated in the following cases:

where there exists a judicial decision on indebtedness enforcement;where there exists a certification of judgment issued by a notary on recovering

a debt;in the event of death of a borrower - an individual, an individual entrepreneur

inclusive, evidenced by a death certificate;a lender and a borrower have signed an amicable agreement related to

discharging liabilities under a loan agreement;(paragraph five of Clause 25 was introduced by Resolution of the Board of the

National Bank of 18.01.2013 № 36)in other cases set forth by the laws.26. A period within which a borrower - an individual or a small business entity

is obliged (if it is set out in a relevant loan agreement) to early repay a loan in the case when he/she fails to comply with the provision of a loan agreement requesting to sign collateral agreement thereto related to the issue of increasing interest on credit should be at least three months following a day when a lending bank claims early loan repayment.

(part one of Clause 26 the wording of Resolution of the Board of the National Bank of 18.01.2013 № 36)

(part two of Clause 26 was deleted by Resolution of the Board of the National Bank of 18.01.2013 № 36)

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