Decree of the Ministry of Finance No. 386 / 2001 Coll.
Decree of the Ministry of Finance on the solvency rules of savings and credit cooperatives
Valid
Effective from 09.11.2001
Text versions:
09.11.2001
386
DECLARATION
Ministry of Finance
of 23 October 2001
on the solvency rules of savings and credit cooperatives
The Ministry of Finance provides pursuant to § 11 and 28i of Act No. 87 / 1995 Coll., on savings and credit cooperatives and certain measures related thereto and on supplementing the Act of the Czech National Council No. 586 / 1992 Coll., on Income Taxes, as amended, as amended, as amended by Act No. 100 / 2000 Coll., hereinafter referred to as "the Act":
This decree establishes a fundamental relationship between the capital of savings and credit cooperatives (hereinafter the "cooperative reserve ') and their assets in order to strengthen the ability of cooperative advances to overcome any fluctuations in their management.
Capital adequacy of cooperative advances means the definition of the ratio of own funds and reserves to risk-weighted assets and, where applicable, the liabilities of cooperative advances, including on a consolidated basis.
(1) Capital is the sum of the base of share capital and additional capital, less deductible items, for the purposes of this decree.
(2) The base of the capital consists of:
(a) the core capital of the cooperative reserve;
(b) funds set up by the cooperative reserve;
(c) the profit of the current accounting year and the retained earnings of the previous years.
(3) Additional own funds are the total amount of the remuneration obligations of all members of the cooperative reserve that the cooperative reserve may use to cover the loss of the current accounting year. For the purposes of this Order, the obligation to pay shall mean a maximum of three times the membership of each member, which cannot be cumulated during the current accounting year. If the statutes of the cooperative reserve do not specify the exact amount of the members' payment obligation, the remuneration obligation shall be calculated for the purposes of this decree at twice the member's share.
(4) The deductible items are composed of:
(a) the outstanding loss of previous years;
(b) loss of the current accounting year;
(c) claims on subscribed capital.
For the calculation of capital adequacy, the different types of off-balance-sheet liabilities of the cooperatives are converted into their credit equivalent. The conversion into credit equivalent shall be done by simply taking over the amount of the off-balance-sheet liability after deduction of provisions where those provisions have been created for a specific off-balance-sheet liability.
The risk-weighted assets shall indicate the sum of the totality of all the assets of the cooperative pool after deduction of the adjustments and adjustments, if they were created for that asset, and the relevant risk weights referred to in Section 6.
The different types of assets shall be valued at the risk weights of the assets according to the following table:
| Riziková váha v % | Druh aktiva |
|---|---|
| 0 | - peníze, |
| - státní dluhopisy a dluhopisy, za které stát převzal záruku, | |
| - dluhopisy emitované Českou národní | |
| - dluhopisy vydané centrálními | |
| - vklady u | |
| - hypoteční zástavní listy, | |
| - odečitatelné položky podle § 3 odst. 4, | |
| - odpočet kapitálových investic podle § 8; | |
| 20 | - komunální dluhopisy, |
| - jiné dluhopisy nabyté se souhlasem Úřadu pro dohled nad družstevními záložnami, | |
| - úvěry | |
| 50 | - vklady u jiných družstevních záložen, |
| - úvěry poskytnuté jiným družstevním záložnám, | |
| - náklady a příjmy příštích období; | |
| 100 | všechna ostatní aktiva, která nejsou uvedena výše, zejména: |
| - úvěry poskytnuté členům družstevní záložny, | |
| - úvěrový ekvivalent podrozvahových závazků, | |
| - zálohy a jiné pohledávky vůči kontrolovaným osobám, | |
| - půjčky Zajišťovacímu fondu družstevních záložen, | |
| - hmotný investiční majetek, | |
| - nehmotný investiční majetek, | |
| - majetkové účasti v právnických osobách snížené o hodnotu odpočtu kapitálových investic podle § 8, | |
| - uhrazovací povinnosti všech členů podle § 3 odst. 3. |
(1) Where the claim is secured
(a) a guarantee or a bank guarantee, including an aval of a note, hereinafter referred to as "the guarantee," may be assigned a guarantor risk weight (Section 6), but only if the following conditions are met at the same time:
1. the guarantee is unconditional;
2. the guarantee is irrevocable;
3. The only condition for the exercise of the right under the guarantee is that the debtor has failed to fulfil his obligations to the cooperative advance which is the creditor in this commitment relationship (hereinafter the "reporting cooperative deposit"),
4. the guarantee is issued in such a way that it does not in any way enable the guarantor or any other person to limit the legal claims of the guarantee showing the cooperative advances;
(b) by money, it shall be assigned a 0% risk weight, provided that the following conditions are met at the same time:
1. the money is deposited in the account of the reporting cooperative reserve;
2. a written contract is concluded to secure the claim;
3. the reinsurance contract is unconditional;
4. the reporting cooperative reserve is the only person who is entitled to exercise his rights to hedge;
5. collateral is irrevocable;
6. the sole condition for exercising the right of collateral is that the debtor has failed to fulfil his obligations to the reporting cooperative advance payment properly and in time;
7. The reinsurance contract shall be concluded in such a way that it does not in any way enable the debtor of the reinsurance contract or any other person to limit the legal claims of the cooperative reserve on the collateral;
(c) cash deposited with banks in the Czech Republic or banks of an OECD Member State may be assigned a 0% risk weight, provided that the conditions laid down in paragraph 1 (a) are met at the same time. (b) points 2 to 7;
(d) bonds issued by a pledge showing a cooperative advance may be assigned a risk weight according to the issuer of the bond (Section 6), provided that the conditions contained in paragraph 1 (b) are met at the same time. (b) points 2 to 7;
(e) the lien on real estate, which is registered in the Czech Republic as the first in the order, if the property is intended only for living and is also owned by the debtor and is not encumbered by the rights of third parties, it may be assigned a 50% risk weight.
(2) If the claim is not fully secured in accordance with points (a) to (e) of paragraph 1, its unsecured parts shall be assigned a risk weight according to the debtor (§ 6). For the purpose of calculating the capital and risk-weighted assets ratio, such a claim shall be divided.
In order to calculate the solvency of the cooperative guarantee, the capital shall be reduced by the deduction of the capital investments provided for in Article 3. This deduction is due to 5% of the total amount of its holdings in legal entities in which the cooperative has a holding other than the forfeiture of the pledge, minus the adjustments made to those holdings.
The capital adequacy value shall be determined as the ratio of own funds to risk-weighted assets. It shall be reported as a percentage.
(1) The cooperative reserve shall be required to reach by 31 December 2001 at the latest and shall continue to reach a capital adequacy value of at least 0,1% after that date.
(2) The cooperative reserve shall be required to reach by 30 June 2002 at the latest and shall continue to achieve a capital adequacy of at least 2,5% after that date.
(3) A cooperative deposit which has reached the required capital adequacy before the date referred to in paragraph 1 or 2 may not take any action to reduce the capital adequacy below that.
(4) In the period up to 31.12.2001, the cooperative reserve shall refrain from any acts leading to the impairment of the capital adequacy below the value achieved by its capital adequacy on the date of entry into force of this decree or below 0,1%, as the case may be.
This decree shall take effect on the day of its publication.
Minister:
Ing. Rusnok v. r.
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Regulation Information
| Citation | Decree of the Ministry of Finance No. 386 / 2001 Coll., on the solvency rules of savings and credit cooperatives |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 09.11.2001 |
|---|---|
| Effective from | 09.11.2001 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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