RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of July 30, 2020 No. 112

About approval of Accounting rules of transactions of trust management in 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 procedure for reflection in financial accounting of transactions of trust management in banks of Ukraine the Board of the National Bank of Ukraine DECIDES:

1. Approve Accounting rules of transactions of trust management in banks of Ukraine which are applied.

2. Recognize invalid:

1) the resolution of Board of the National Bank of Ukraine of November 12, 2003 No. 498 "About approval of Accounting rules of transactions of trust management in banks of Ukraine", registered in the Ministry of Justice of Ukraine on December 3, 2003 for No. 1114/8435;

2) subitem 1.15 of Item 1 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.

3. To accounting department (Bogdan Lukasiewicz) 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 Roman Borisenko.

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

Approved by the Resolution of Board of the National Bank of Ukraine of July 30, 2020 No. 112

Accounting rules of transactions of trust management in banks of Ukraine

I. General provisions

1. These Rules are developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About banks and banking activity", "About financial accounting and the financial reporting in Ukraine", others legal acts of Ukraine, regulatory legal acts of the National Bank of Ukraine (further - National Bank) and international accounting standards.

2. These Rules determine procedure for financial accounting by bank managing of transactions of trust management by contracts with legal entities and physical persons which are performed according to the legislation of Ukraine.

3. The term "fund of bank management" in these Rules is used in such value:

fund of bank management - means and other property of founders united by bank managing for the purpose of implementation of trust management without creation of the legal entity.

Other terms in these Rules are applied in the values determined by legal acts of Ukraine.

4. The bank managing shall separate in financial accounting from own assets and liabilities of bank assets and liabilities of trust management.

The bank managing performs accounting of results of activities for transactions of trust management separately from results of activities of bank on other transactions.

5. The bank managing reflects in financial accounting of transaction of trust management on accounts of the Chart of accounts of the financial accounting of banks of Ukraine approved by the resolution of Board of the National Bank of Ukraine of September 11, 2017 No. 89 (with changes) (further - the Chart of accounts).

6. The bank managing performs accounting of transactions of trust management on each fund of bank management and/or each individual agreement on trust management.

II. Reflection in financial accounting of transactions on acceptance of money, securities and other assets in trust management

7. The bank managing for implementation of transactions of trust management opens current accounts according to the balance sheet account 2601 P "Current Accounts of Bank Managing on Trust Management" of the Chart of accounts.

8. The bank managing performs accounting of transactions of trust management on off-balance accounts of groups 978 "Active accounts of trust management" and 979 "Passive accounts of trust management" of the Chart of accounts.

Accounts of groups 978 and 979 of the Chart of accounts correspond among themselves.

9. The bank managing reflects transactions of trust management under each individual agreement on trust management in analytics and/or on each fund of bank management by founders (clients) and objects of trust management.

10. The bank managing constitutes separate turnover and balance balance on transactions of trust management. Remaining balance according to active accounts of group 978 shall equal to remaining balance according to passive accounts of group 979 of the Chart of accounts.

11. The bank managing reflects the property provided by founders in trust management in financial accounting:

in funds of bank management - according to the off-balance account 9790 P "Funds of Bank Management" of the Chart of accounts;

according to the individual agreement - according to the off-balance account 9791 P "Accounts of Fitters" of the Chart of accounts.

12. The bank managing reflects in financial accounting money transfer by founders according to agreements on trust management of such accounting entries:

Table

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