The National Bank set new requirements as to the size of regulatory capital of non-bank credit and financial institutions (NCFI). All types of banking transactions that NCFIs have the right to carry out are divided into three groups according to the level of risk connected with such transactions and their potential to threaten the interest of depositors and other creditors.
NCFIs with regulatory capital equivalent to at least EUR 1 million have the right only to provide payment and cash services to legal entities, perform foreign exchange operations, collect cash, payment instructions, precious metals, precious gems and other values and to perform certain other low-risk operations.
NCFIs with a regulatory capital equivalent to at least EUR 5 million in addition have the right to attract funds from legal entities, provide payment and cash services to individuals, open and operate banking accounts of legal entities, hold monetary funds in trust and perform factoring operations.
NCFIs must form regulatory capital in an amount equivalent to at least EUR 25 million in order to attract funds from individuals.
At the moment no NCFIs are registered in Belarus. The owners of several banks failing to meet the regulatory capital requirement (EUR 25 million) and not having the opportunity to increase it or considering it unfeasible to do so, are expected to decide to sell these banks or reorganise them into NCFIs during 2015.
These new rules were set by the Resolution of the Board of the National Bank of 19 August 2014 No. 529.