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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of January 2, 2019 No. 1

About approval of the Regulations on structure of the foreign exchange market of Ukraine, conditions and procedure for foreign exchange trade and bank metals in the foreign exchange market of Ukraine

According to Articles 6, of 7, of 15, of 28, of 44, of 45, of 46, of 48, 56 Laws of Ukraine "About the National Bank of Ukraine", for the purpose of implementation of requirements of the Law of Ukraine "About currency and currency transactions" the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on structure of the foreign exchange market of Ukraine, condition and procedure for foreign exchange trade and bank metals in the foreign exchange market of Ukraine.

2. To department of the public markets (Ponomarenko S. V.) after official publication to inform banks information on adoption of this resolution.

3. The resolution becomes effective from the date of enforcement of the Law of Ukraine "About currency and currency transactions".

Chairman

Ya. Smoly

Approved by the Resolution of Board of the National Bank of Ukraine of January 2, 2019 No. 1

Regulations on structure of the foreign exchange market of Ukraine, condition and procedure for foreign exchange trade and bank metals in the foreign exchange market of Ukraine

I. General provisions

1. This Provision establishes structure of the foreign exchange market of Ukraine, general procedure and terms of trade in foreign currency and bank metals in the foreign exchange market of Ukraine.

2. In this Provision terms are used in such values:

1) currency transactions on conditions "swap" - currency transactions under the agreement which conditions provide purchase (sale, exchange) foreign currency / bank metals with its return sale (purchase, exchange) for certain date in the future with fixing of conditions of these transactions during the conclusion of the agreement;

2) currency transaction on conditions "forward" - currency transaction under the forward agreement which conditions provide accomplishment of this transaction later, than for the second working day after day of the conclusion of the agreement;

3) the foreign exchange market is set of the relations in the sphere of trade in currency values in Ukraine between subjects of the foreign exchange market of Ukraine (further - subjects of the market), between subjects of the market and their clients (including nonresident banks), between subjects of the market and the National Bank of Ukraine (further - National Bank), and also between National Bank and its clients;

4) acknowledged producers are affinaging companies - the acknowledged suppliers on the London market of precious metals entered in the special list of the affinaging companies registered by the London association of the market of precious metals (LBMA) or in the list of the affinaging companies which are participants of the London market of platinum and palladium (LPPM);

5) purchase of foreign currency / bank metals is transaction on purchase of foreign currency / bank metals for hryvnias;

6) the license - the license of National Bank for implementation of currency transactions on trade in currency values in cash form or the general license for implementation of currency transactions which did not void after enforcement of the Law of Ukraine "About currency and currency transactions";

7) the international foreign exchange market is set of the relations in the sphere of foreign exchange trade and bank metals outside Ukraine between banks and foreign partners;

8) the coins made from precious metals (further - coins):

domestic coins and foreign coins with tests are not lower than: for gold - 900, for silver - 925, for platinum and palladium - 999;

investment coins of Ukraine - coin with tests for gold - 999,9, for silver - 999,9, for platinum - 999,5, which are intended for investment and accumulating;

9) the highest tests of bank metals in ingots and powders - it is not lower than test than: for gold - 995, for silver - 999, for platinum and palladium - 999,5;

10) exchange of foreign currency / bank metal is transaction on purchase (sale) of one foreign currency for other foreign currency, one bank metal in another or in foreign currency;

11) transactions on the terms of margin trading are non-cash transactions (for bank metals without physical delivery) which provide accomplishment of two counter obligations on purchase and sale of one foreign currency for other foreign currency/hryvnia (bank metal for other bank metal / foreign currency) and are performed without real delivery in the foreign exchange market of Ukraine or the international foreign exchange market for the purpose of profit earning from change of the currency rate or hedging of risks;

12) transaction storno - transaction on return to the client of the corresponding amount of means in national or foreign currency within 15 minutes after carrying out currency exchange transaction in case of refusal the client from currency exchange transaction;

13) powders of bank metals is gold, silver, platinum and palladium in the form of powdery substance (granules, sponge) packed into glass ampoules, plastic banks or sacks with marking of the acknowledged producer;

14) sale of foreign currency / bank metals is transaction selling foreign currency / bank metals for hryvnias;

15) exchange bureau of foreign currency (further - foreign exchange office) - structural division which opens bank, non-bank financial institution, the operator of mail service for the purpose of implementation of foreign exchange trade in cash form;

16) the quality certificate of bank metals in ingots and powders (further - the quality certificate) - the official stamp (brand, the trademark) or the written instrument of the acknowledged producer, Ukrainian producer which certifies test of bank metal and identifies the name of the acknowledged producer or Ukrainian producer;

17) the System of the agreement confirmation in the foreign exchange market of Ukraine (further - System of the agreement confirmation) is complex of organizational technical means which provides the agreement confirmation (agreements) on purchase and sale of foreign currency and the bank metals for hryvnias concluded between National Bank and banks, and also banks among themselves;

18) the forward agreement - the bilateral agreement based on which there are obligations at the parties of this agreement concerning acquisition and sale in the future of foreign currency / bank metals in time and at the rate of foreign currency / bank metal, established in case of the conclusion of such agreement. Conditions of the forward agreement can provide delivery of underlying asset (foreign currency / bank metals) by its alienation or implementation of payment under such agreement without delivery of underlying asset.

Other terms used in this Provision are applied in the values determined in the laws of Ukraine and regulatory legal acts of National Bank.

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