RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of February 27, 2018 No. 17

About approval of Accounting rules of the income and expenses of banks of Ukraine

According to Articles 7, of 15, of 41, 56 Laws of Ukraine "About the National Bank of Ukraine", article 68 of the Law of Ukraine "About banks and banking activity", for the purpose of enhancement of the regulatory legal acts establishing procedure for financial accounting of transactions of banks of Ukraine, the Board of the National Bank of Ukraine decides:

1. Approve Accounting rules of the income and expenses of banks of Ukraine which are applied.

2. Recognize invalid regulatory legal acts of the National Bank of Ukraine according to the list which is attached.

3. To accounting department (Lukasiewicz B. V.) after official publication to inform banks information on adoption of this resolution.

4. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Borisenko R. M.

5. The resolution becomes effective from the date of, its official publication following behind day.

Appendix to the Resolution of Board of the National Bank of Ukraine of February 27, 2018 No. 17

List of regulatory legal acts of the National Bank of Ukraine, invalid

1) the resolution of Board of the National Bank of Ukraine of June 18, 2003 No. 255 "About approval of Accounting rules of the income and expenses of banks of Ukraine", registered in the Ministry of Justice of Ukraine on July 11, 2003 for No. 583/7904;

2) the resolution of Board of the National Bank of Ukraine of June 17, 2004 No. 279 "About approval of Changes in Accounting rules of the income and expenses of banks of Ukraine", registered in the Ministry of Justice of Ukraine on July 9, 2004 for No. 858/9457;

3) the resolution of Board of the National Bank of Ukraine of June 16, 2005 No. 222 "About modification of some regulatory legal acts of the National Bank of Ukraine on financial accounting", registered in the Ministry of Justice of Ukraine on July 6, 2005 for No. 718/10998;

4) the resolution of Board of the National Bank of Ukraine of March 23, 2006 No. 103 "About approval of Changes in Accounting rules of the income and expenses of banks of Ukraine", registered in the Ministry of Justice of Ukraine on April 3, 2006 for No. 368/12242;

5) the resolution of Board of the National Bank of Ukraine of December 27, 2007 No. 483 "About approval of Changes in Accounting rules of the income and expenses of banks of Ukraine", registered in the Ministry of Justice of Ukraine on January 22, 2008 for No. 40/14731;

6) Item 1.12 of the resolution of Board of the National Bank of Ukraine of October 8, 2010 No. 457 "About modification of some regulatory legal acts of the National Bank of Ukraine", registered in the Ministry of Justice of Ukraine on December 13, 2010 for No. 1249/18544;

7) the resolution of Board of the National Bank of Ukraine of June 22, 2015 No. 403 "About approval of Changes in Accounting rules of the income and expenses of banks of Ukraine";

8) the resolution of Board of the National Bank of Ukraine of November 26, 2015 No. 827 "About approval of Changes in Accounting rules of the income and expenses of banks of Ukraine".

Approved by the Resolution of Board of the National Bank of Ukraine of February 27, 2018 No. 17

Accounting rules of the income and expenses of banks of Ukraine

I. General provisions

1. These rules are developed according to the Laws of Ukraine "About banks and banking activity", "About the National Bank of Ukraine", "About financial accounting and the financial reporting in Ukraine", regulatory legal acts of the National Bank of Ukraine and requirements of international accounting standards.

2. These rules determine the methodological principles of reflection in financial accounting of information on the income and expenses and procedure for application by banks of fundamental accounting principles in case of recognition of the income and expenses, except the income and expenses falling under operation of the International Financial Reporting Standard 9 "Financial instruments".

3. These rules do not regulate procedure for reflection in financial accounting of the income and expenses on the transactions connected with:

1) lease agreements;

2) insurance contracts;

3) financial instruments and other contract law and obligations which are considered according to the International Financial Reporting Standard 9 "Financial instruments".

4. The bank reflects in financial accounting forming and use of reserves under the expected credit losses on receivables according to requirements of the regulatory legal act of the National Bank of Ukraine for financial accounting of financial instrument transactions in banks of Ukraine.

5. Terms in these Rules are used in such value:

1) expenses - reduction of economic benefits during the accounting period in the form of disposal or asset depreciation or in the form of emergence of obligations what reduction of equity, except for is result of the reduction connected with payments to participants;

2) the agreement - the agreement between two or several parties which generates the rights and/or obligations;

3) contractual commitment - the obligation of bank to transfer assets or services to the buyer for which the bank received compensation (or the compensation amount for which is subject to payment) from the buyer;

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