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LAW OF UKRAINE

of May 20, 1999 No. 679-XIV

About the National Bank of Ukraine

(The last edition from 03-10-2017)

Section I General provisions

Article 1. Terms and concepts

In this Law terms and concepts are used in the following value:

bank metals - the gold, silver, platinum, metals of platinum group brought (affined) to the highest tests according to the international standards, in ingots and powders the having quality certificates, and also the coins made of precious metals;

bank regulation - one of functions of the National Bank of Ukraine which consists in creation of system of the regulations regulating activities of the banks determining the general principles of banking activity, procedure of banking supervision, responsibility for violation of the bank law;

banking supervision - the control system and the active ordered actions of the National Bank of Ukraine aimed at ensuring compliance by banks and other persons concerning whom the National Bank of Ukraine performs supervising activities of the legislation of Ukraine and the established standard rates, for the purpose of ensuring banking system stability and depositor protection and creditors of bank;

currency values - the material objects determined by the legislation of Ukraine on currency control as means of the monetary relations;

the public market - the market in which transactions on purchase and sale of securities between persons who are not primary creditors and borrowers and when means as a result of security sale in such market arrive for benefit of the security holder, but not their issuer are performed. It is used by Central Banks for purchase and sale, as a rule, of short-term government securities for the purpose of regulation of money supply. As a result of purchase investment of capital in economy increases, as a result of sale - decreases;

foreign exchange position - ratio of requirements and obligations of bank in each foreign currency and in each bank metal. In case of their equality the line item is considered closed, in case of inequality - open. The open line item is short if the amount of obligations on foreign currencies and bank metals exceeds amount of requirements, and long if the amount of requirements for foreign currencies and bank metals exceeds amount of obligations;

monetary policy - complex of actions in the sphere of currency circulation and the credit aimed at providing stability of monetary unit of Ukraine through use of the means and methods determined by this Law;

monetary obligations - currency in the address, financial requirements to the National Bank of Ukraine, except for obligations of the National Bank of Ukraine to the Cabinet of Ministers of Ukraine and international financial institutions

cash substitute - any documents in the form of bank notes, different from monetary unit of Ukraine, released not by the National Bank of Ukraine and made for the purpose of implementation of payments in economic circulation, except currency values;

exchange monetarist policies - adjustment policy of the currency rate by purchase and sale of foreign currency;

discount monetarist policies - decrease or increase in interest rates by the National Bank of Ukraine for the credit for the purpose of regulation of the demand and supply for the loan capital;

gold and foreign exchange reserve - the reserves of Ukraine displayed in balance of the National Bank of Ukraine which include the assets recognized as the world community as international and intended for international settlements;

the last resort lender - the National Bank of Ukraine which the bank for receipt of refinancing in case of exhaustion of other opportunities of refinancing can address;

treasury obligations - debt securities which are emitted by the state on behalf of its authorized bodies are placed exclusively on a voluntary basis among physical persons and legal entities, certify entering by their owners of money into the budget and grant the right to financial income or other property rights, in accordance with the terms of their release;

metal accounts - accounts which are opened by authorized banks of Ukraine for accounting of the transactions performed with bank metals;

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