OREANDA-NEWS. December 07, 2010. Resolution of the Board of the Central Bank of Uzbekistan No.34/16 dated 23 October 2010 "On introduction of changes and amendments to the Regulations on requirements to commercial banks' credit policy" came into force.

According to amendments, in clause 1.5 of the Regulations the words "to be reconsidered and approved" are replaced by "are to be reconsidered, approved and provided to the Central Bank", while in clause 2.7 of the Regulations the words "independent valuator" are replaced by "valuation organization".

Moreover, clause 2.8 of the Regulations was supplemented with the following paragraph: the bank's credit policy should define the process of credit portfolio full inventory not less than once per quarter to provide more information on quality of loans and formation of sufficient reserves in case of possible credit losses.