Kazakhstan SDDS Metadata Revaluation

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					                          Kazakhstan: SDDS Metadata

                                                         Revision date: March 2006

          SDDS Data Category: Analytical accounts of the Depository

          Contact person: Ms. Irina Anatolyevna Moiseyeva
          Title: Chief of Statistics Division, Research and Statistics Department
          Address: National Bank of Kazakhstan 21 Koktem-3, Almaty,
          Phone:     7 3272 704984
          Fax: 7 3272 704930
          Internet e-mail:

The Data: Coverage, Periodicity, and Timeliness
Coverage characteristics The given data includes the analytical accounts of the
                          Depository Organizations, in millions of Tenge. Data
                          cover the consolidated balance sheet of the commercial
                          banks operating in Kazakhstan, balance sheet of the
                          NBK, including the National Fund’s assets managed by
                          NBK. For the period from December 2003 till
                          December, 2005 accounts of credit companies were
                          included. Since January 2006 accounts of Credit
                          companies       are    excluded      from    Depository
                          Organizations analytical accounts in connection with
                          modification in the legislation of Republic Kazakhstan
                          on questions of licensing and the consolidated
                          supervision. As a result powers of the government
                          body that is carrying out regulation and supervision of
                          the financial market and the financial organizations are
                          not distributed to credit companies.

                            The accounts of the banks, which are being in the
                            process of liquidation, are not covered by the
                            Depository Organizations analytical accounts.
                            The following data are provided:
                            (1) Monetary aggregates (the position at the end of the
                                month) are (a) currency in circulation M0, (b)
                                narrow money M1, (c) broad money M2, and (d)
                                money supply M3. M0 is defined as currency
                                outside Depository Organizations (notes and coins
                                in the national currency in circulation minus cash
                                holdings in NBK, commercial banks and credit
                                companies); M1 is defined as M0 plus transferable
                                deposits of nonbank legal entities and households
                                in national currency; broad money M2 equals M1
                                plus other deposits in national currency and
    transferable deposits in foreign currency of
    nonbank legal entities and households. Money
    supply M3 includes M2 plus other
    (nontransferable) deposits in foreign currency of
    nonbank legal entities and households. Deposits of
    local governments have been included in the
    monetary aggregates since December 2001.
(2) Net claims to the Central government (until
    December 2001 data included General Government
    data only).
(3) Domestic credit to the rest of the economy,
    including claims on financial sector (other than
    banks and credit companies), private and public
    nonfinancial enterprises, region and local
    government (since December 2001),
    noncommercial organizations serving households
    and population.
(4) Net foreign assets of the Depository Organizations
    with details on assets and liabilities. A foreign
    position differs from domestic positions on the
    basis of residency.

(5) Other net domestic assets - with breakdown by
    other financial assets, nonfinancial assets, other
    liabilities and capital accounts.
The National Bank values the financial assets by their
fair value, except for investments, held till repayment,
loans and account receivable, not intended for trade
and the financial assets non traded on market which
fair cost cannot be determined with a sufficient degree
of reliability.
Securities are accounted by fair volume or at the
amortized cost depending on used classification on
corresponding categories.
Revaluation and amortization of cost of securities is
made monthly on the last business day of the month
and on the sale and redemption day.
Since automated estimation of foreign currency
securities is implemented the revaluation is done daily.
The cost estimation of securities of a foreign market is
made according to the quotations (prices) established at
the moment of closing of the tenders in the financial
market, in the penultimate working day of calendar
month and/or day, previous to day sales of the

For carrying out of revaluation of cost of securities in
the national currency, released for the reference in
Kazakhstan, including coupon indexed bonds, the
official weekly quotations (price) established by the
Kazakhstan stock exchange are used.
At concurrence of day of carrying out of revaluation of
                          cost of securities to day of the next publication for a
                          basis the quotations (price) established for the previous
                          date are accepted by the Kazakhstan stock exchange of
                          weekly quotations (prices).
                          To the account of a foreign currency it is applied the
                          weighted average rate of foreign currency set on
                          morning session 11:00 Almaty time, of the Kazakh
                          Stock Exchange on the previous business day.
                          Revaluation of foreign currency on which at the
                          Kazakhstan stock exchange the tenders are not carried
                          out calculated using cross-rates set on 15:00 Almaty
                          time, at date of revaluation, according to the quotations
                          received on channels of news agency REUTERS.
                          Revaluation is made at each change of the average
                          exchange rate of tenge for foreign currencies and last
                          day month.
                          Securities purchased for capital investment are valued
                          on their purchase price. The value of these securities is
                          not overpriced during the holding period except for the
                          institutions with negative equity.
                          Commercial banks' securities are valued by three
                          1) securities for trade
                          2) securities available for sale
                          3) securities held till repayment

                          First two categories are assessed on fair value. These
                          kinds of securities in local and foreign currencies are
                          valued on fair value (price) by reappraisal as foreign
                          and local financial markets quotation (prices) set,
                          depending on the bank’s accounting policy.
                          The third category of both local and foreign securities
                          is valued with depreciable expenses by effective
                          interest rate. There is no revaluation on these securities.
                          Capital investments (subsidiaries and associated
                          companies) is valued in accordance with №27
                          International Financial Reporting Standard “Summary
                          Financial reporting and accounting of the investment in
                          subsidiaries ” and №28 “Accounting of the investment
                          in associated companies”.

                          Foreign currency accounts are daily converted into the
                          local currency basing on Tenge weight-average stock
                          exchange rate.
Periodicity               Monthly
Timeliness                To the 25th day following the reporting month
                            Access by the Public
Advance dissemination     NBK disseminates calendar of statistic data issue in
of release calendar       advance at the National Bank’s web-site in Internet.

Simultaneous release to   Monetary statistics is available at the NBK's web-site
all interested parties    in Internet for all interested parties and published in the
                              “Statistical Bulletin”.
Provision f terms and         The monetary policy is pursued under the Articles 8
conditions under which        and 61 of the Law of the Republic of Kazakhstan on
official statistics are       The National Bank (1995) and Article 54 of the Law
produced, including           On Banks and Banking Activity, which provides the
confidentiality of            following: “the banks must provide the National Bank
individual respondents        with any requested information about their funds,
                              including those outside the Republic of Kazakhstan,
                              amount of deposits and loans, banking operations and
                              other information including the data making bank
                              Under the Law of the Republic of Kazakhstan on the
                              National Bank of the Republic of Kazakhstan, Article
                              8, drawing up and regularly publishing the composite
                              balance sheet of banks of the Republic of Kazakhstan
                              and own balance sheet is one of the key functions of
                              the National Bank. Article 67 requires the NBK to
                              publish, amongst other things the annual report on
                              activity of NBK and annual consolidated financial
                              The confidentiality of respondents’ data is established
                              by in Article 54 of the Law on Banks and Banking
                              activity in the Republic of Kazakhstan specifying that
                              «Employees of the National Bank of Kazakhstan shall
                              be prohibited from disclosing or relaying to third
                              parties information obtained in the course of exercising
                              right of data collection, established by points 2 and 2-1
                              articles, are liable in accordance with legal acts of
                              Republic of Kazakhstan».
                               Further, Article 383 of the Republic of Kazakhstan
                              Code of Legal Offenses (January 2001) provides for
                              pecuniary penalties for disclosure of individual
                              institutional data to third parties without prior approval
                              of this institutions units.
                              Copies of the Laws and other legislative acts regulating
                              money-credit statistics issues in Kazakhstan are posted
                              the at National Bank’s web site in Internet.
Identification of internal    Users outside the NBK do not have access to the
government access to          statistical data prior their official publication
data before release
Identification           of   No comments by state bodies are applied.
ministerial commentary
on the occasion of
statistical releases
Provision of information      The banks do not provide revised historical data in case
about data revision and       of reclassification of the accounts determined in the
advance notice of major       current period. Monetary statistics data, which
changes in methodology        published by the National Banks, are final, except for
                              the data as of the end of December that is based on the
                              preliminary figures. Any changes in the methodology
                              are provided in advance before they are made.
Dissemination            of   Short description on Monetary Survey methodology is
documentation            on   published in the Statistical Bulletin, which is available
methodology and sources       both in Russian and Kazakh and disseminated at the
used in preparing of          NBK 's web-site in Internet
Dissemination of              Monetary statistics data are posted at the NBK's web-
methodological and            site and published in the monthly Statistical Bulletin in
sources, supporting           the following way: the annual data is showed for the
statistical cross-checks      last five years; and the monthly data – for the current
and assurance of              year.
reasonableness                The data breakdown is following:
                              1) disaggregated data of the National and commercial
                                  banks’ balance sheet;
                              2) customers’ deposits;
                              3) loans to the customers;
                              4) interest rates on deposits and loans;
                              5) Government securities and National Bank’s
                                  securities (primary and secondary markets);
                              6) currency market;
                              7) financial System information;
                              8) information on cumulative pension system;
                              9) insurance market data;
                              10) payments system’s key indicators.

                              The consolidated balance sheet of NBK is published in
                                    the annual report of the National Bank. The
                                    data is given as of the end of the reporting year
                                    and as of the end of the previous year. The
                                    information break-down is as follows: assets
                                    (monetary gold, claims to banks and other
                                    financial organizations, investment securities
                                    available for sale, fixed assets and other assets),
                                    liabilities (money in circulation, liabilities to
                                    banks and other financial organization, accounts
                                    of Ministry of finance RK, funds, clients, debt
                                    securities and other liabilities) and own capital.

                              The annual report is available on the web-site of the
                              National Bank where periodical data on the monetary
                              aggregates can also be found.

Dissemination formats:

  ( ) News release
   ( ) Weekly                 (x) monthly bulletin      ( ) quarterly bulletin
   (x) Other

   (x) electronic notice board or database of country
    ( ) Diskette             ( )CD-ROM              ( ) Other

Dissemination format page

Monthly: Statistical Bulletin of NBK in Kazakh, Russian and English.

Other: Annual Report of the NBK in Kazakh, Russian and English

The information on NBK editions, price and subscribe is available from official
distributor “Business literature and education”.
Address: Almaty, 44, Dostyk Ave.
Phone: 7 3272 585-085
        7 3272 503-533
Fax: 7 3272 585-087


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Description: Kazakhstan SDDS Metadata Revaluation