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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