Q: What is the procedure of registration with the Agency?
A: When submitting an application for a banking license from the National Bank, the bank on the date of application for such a license also files an application for the registration with the Agency.
In its turn as soon as it approves on the issue of a banking license, the National Bank advises the Agency as to requisite details of the license, its date and number, registration number of the bank, its address and the size of its regulatory capital for the purpose of calculation of the initial entrance fee.
The applicant bank shall remit the registration fee to the Agency within three days from the date of the issue of the banking license. The Agency shall register the bank on the date of the receipt of the registration fee.
Q: What is the evidence of registration?
A: Within three days from the date of register entry the Agency issues its Registration Certificate to the bank.
Q: Which fees are payable to the Agency?
A: The Agency is entitled to receive the initial registration fees and quarterly fees.
Q: What is the amount of the registration fee?
A: The registration fee makes 0.5% of the regulatory capital of the participating bank calculated at the first date of the month when the banking license was issued.
Q: How quarterly fees are calculated?
A: Quarterly fees are calculated at the rate of 0.3% of the amount of individual deposits outstanding as of the first day of a month following each quarter of the year if otherwise not prescribed by President of the Republic of Belarus.
In case the Agency’s reserve fund exceeds 5% of total deposits of individual customers, the rate goes down twofold to 0.15%. And the reverse upward move occurs when the reserve fund decreases to lees than 5% of gross deposits of individual customers.
Q: What is the transaction routine of fee remittance?
A: Quarterly fees are calculated by banks independently and shall be remitted to the Agency within 10 days upon the lapse of the last month in a quarter.