RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of September 17, 2021 No. 95

About approval of the Regulations on transfer of inventories of cash on storage in authorized banks and carrying out transactions with them

According to Articles 7, of 15, of 33, 56 Laws of Ukraine "About the National Bank of Ukraine", for the purpose of enhancement of procedure for storage by banks of Ukraine of inventories of cash of the National Bank of Ukraine and carrying out transactions with them the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on transfer of inventories of cash on storage in authorized banks and carrying out transactions with them (further - the Provision) which is applied.

2. To the banks authorized on stock holding of cash of the National Bank of Ukraine and carrying out inventory operations of cash of the National Bank of Ukraine (further - authorized banks):

To bring 1) till February 15, 2022 into accord with requirements of the Provision of the agreement on stock holding of cash of the National Bank of Ukraine and carrying out transactions with them (further - the agreement of storage) and internal documents in the order of carrying out inventory operations of cash stored, to procedure for their storage in storages and reflections in financial accounting, accounting treatment and settlements of shortages and surplus in cash inventories stored between the separate divisions, procedure for control of observance of requirements of the Provision;

2) till February 15, 2022 to sign additional contracts to agreements on storage on the translation provided as proof of government bonds of Ukraine from the account in securities of the authorized bank opened in depository institution of authorized bank into the account in securities opened for them in depository institution of the National Bank of Ukraine;

3) since January 1, 2023 to provide limit of inventories of cash of the National Bank of Ukraine which are stored in authorized banks, in the amount at least three billion hryvnias in general on bank;

4) since January 1, 2025 to provide limit of inventories of cash of the National Bank of Ukraine which are stored in authorized banks, in the amount at least five billion hryvnias in general on bank;

5) within six months from the date of entry into force of this resolution to provide actions plans on fulfillment of requirements of the subitem 2 of item 4 of the Section I of the Provision.

3. The National Bank of Ukraine under agreements about storage performs as of February 15, 2022 the translation provided as proof of government bonds of Ukraine from the account in securities of the authorized bank opened in depository institution of authorized bank into the account in securities opened for them in depository institution of the National Bank of Ukraine.

4. Recognize invalid:

1) the resolution of Board of the National Bank of Ukraine of December 7, 2016 No. 408 "About approval of the Regulations on transfer of inventories of cash on storage in authorized banks";

2) the resolution of Board of the National Bank of Ukraine of September 1, 2017 No. 86 "About modification of the Regulations on transfer of inventories of cash on storage in authorized banks";

3) the resolution of Board of the National Bank of Ukraine of November 30, 2017 No. 122 "About modification of some regulatory legal acts of the National Bank of Ukraine";

4) the resolution of Board of the National Bank of Ukraine of October 23, 2018 No. 112 "About approval of Changes in Regulations on transfer of inventories of cash on storage in authorized banks";

5) the resolution of Board of the National Bank of Ukraine of December 3, 2019 No. 145 "About approval of Changes in Regulations on transfer of inventories of cash on storage in authorized banks".

5. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Alexey Shaban.

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

1) Items 1 and 4 of this resolution which become effective since February 15, 2022;

2) Item 68 of the Section V of the provision which is becoming effective since January 1, 2023;

3) subitems 3, the 7th Item 38 of the Section II of Provisions which become effective since January 1, 2024.

Approved by the Resolution of Board of the National Bank of Ukraine of September 17, 2021 No. 95

Regulations on transfer of inventories of cash on storage in authorized banks and carrying out transactions with them

I. General provisions

1. This Provision is developed according to the Law of Ukraine "About the National Bank of Ukraine", Regulations on criteria and procedure for selection of banks which can be involved in stock holding of cash of the National Bank of Ukraine and implementation of transactions with them, the approved resolution of Board of the National Bank of Ukraine of September 28, 2016 No. 389 (with changes) (further - No. Provision 389), the Rules on the organization of protection of premises of banks in Ukraine approved by the resolution of Board of the National Bank of Ukraine of February 10, 2016 No. 63 (with changes) (further - Rules No. 63), regulatory legal acts of the National Bank of Ukraine (further - National Bank) of questions of the organization of collection of means and transportation of currency values of banks in Ukraine, the organization of cash work.

2. Banks to which the status of authorized bank on stock holding of cash and carrying out transactions with them is provided (further - authorized bank) according to the Provision No. 389 are involved in stock holding of cash of National Bank.

3. Terms in this Provision are used in such value:

1) separate division of authorized bank - branch (department) of authorized bank which (which) conforms to requirements of regulatory legal acts of National Bank concerning licensing of banks and the organization of protection of premises of banks in Ukraine which list is introduced in appendix to the agreement on stock holding of cash of National Bank and carrying out transactions with them in which inventories of cash of National Bank are stored and inventory operations of cash stored on behalf of authorized bank are performed (further - separate division);

2) the contract on stock holding of cash of the National Bank of Ukraine and carrying out transactions with them - the arrangement in writing between National Bank and authorized bank in which the rights make a reservation obligations, obligations, responsibility of the parties, procedure of payments, internal control and audit, ensuring obligation fulfillment (pledge) (further - providing obligations), according to requirements of this provision and other regulatory legal acts of National Bank for the organization of collection of means and transportation of currency values of banks in Ukraine, the organization of cash work, protection of premises of banks in Ukraine, criteria and procedure for selection of banks which can be involved in stock holding of cash of National Bank and implementation of transactions with them (further - the agreement of storage);

3) permission - the document of National Bank signed by the employee of National Bank according to the powers delegated to it the administrative act of National Bank (further - the authorized person of National Bank) which grants the right to authorized bank on carrying out inventory operations of cash stored and servicing of authorized bank by National Bank or cash;

4) cash inventories stored - banknotes and coins of national currency (further - cash) which is property of National Bank which are transferred by National Bank to authorized bank to storage according to requirements of this provision and the agreement of storage, and are used by authorized bank based on permission of National Bank until their return to National Bank;

5) index - conditional digital designation of banknotes and coins on which they are considered by means of system of automation depending on type, appointment and samples of bank notes;

6) the head of separate division - person who acts on the basis of the power of attorney and bears complete legal responsibility according to the obligations arising in activities of its separate division;

6-1) division manager of authorized bank - the official of authorized bank who according to job responsibilities and regulations on division exercises control and bears responsibility for preserving inventories of cash of National Bank in storages of division also are appointed according to the order of authorized bank;

7) adjusting factor - coefficient, multiplication by fair value of the assets provided by bank for ensuring agreement obligations about which storage to equally maximum amount of inventories of cash which can be stored in authorized bank under these assets;

8) limit of inventories of cash stored - maximum amount of inventories of cash which can be stored in general on authorized bank taking into account the provided providing, class of resistance of the area/scope and technical condition of storages by each isolated division/subsection of authorized bank;

9) servicing of authorized bank by National Bank cash - cash disbursement National Bank for reinforcement of inventories of cash stored in authorized bank / acceptance of cash by authorized bank for reinforcement of inventories of cash stored from National Bank; cash disbursement authorized bank from cash inventories stored, for export in National bank / acceptance of the cash by National Bank from authorized bank exported from cash inventories stored;

10) inventory operations of cash stored - cash disbursement of money from cash inventories stored in operational cash desk of authorized bank (further - reduction of cash from cash inventories stored); acceptance of actual actual stocks on storage (including the cash which is subject to transfer) from operational cash desk of authorized bank (further - increase in actual actual stocks stored); transfer of cash from index on index in cash inventories stored; movement of cash from cash inventories stored between the isolated divisions/subsections of one authorized bank (further - movement of cash from cash inventories stored); movement of cash from actual stocks stored between authorized banks;

10-1) division of authorized bank - structural division of authorized bank without procedure of its registration as separate division of bank and assignment of intra bank registration code which is located in authorized bank, information on which is entered in appendix to the agreement on storage in which inventories of cash of National Bank are stored and operations with them on behalf of authorized bank are performed (further - division);

11) system of automation - program and technological complex of automation of the cash address and system of automation of depositary of National Bank to which the authorized bank is connected;

12) authorized bank - bank concerning which the Board of National Bank according to requirements of the Provision No. 389 made the decision on provision to it powers on stock holding of cash of National Bank and carrying out inventory operations of cash of National Bank.

Other terms used in this Provision are applied in the values determined by regulatory legal acts of National Bank by the organization of collection of means and transportation of currency values of banks in Ukraine and to questions of the organization of cash work.

4. The authorized bank shall provide:

1) stock holding of cash of National Bank in the amount at least one billion hryvnias in general on bank until the end of the first year from the date of receipt of the status of authorized bank. In the next three years of activities in the status of authorized bank in the amount at least one billion hryvnias in general on bank which is calculated as the minimum average monthly amount of stock remainder of cash stored within calendar year;

1-1) stock holdings of cash of National Bank in the amount at least three billion hryvnias in general on bank until the end of the fourth year of activities from the date of receipt of the status of authorized bank. In the years ahead activities in the status of authorized bank in the amount at least three billion hryvnias in general on bank which is calculated as the minimum average monthly amount of stock remainder of cash stored within calendar year;

2) availability at least one authorized bank isolated division/subsection in the region for stock holding of cash is at least to 30% of areas for two years of activities in the status of authorized bank, to 60% of areas within four years of activities in the status of authorized bank, to 80-100% of areas within six years of activities in the status of authorized bank.

5. This Provision establishes:

1) conditions of transfer of own inventories of cash by National Bank in national currency of Ukraine (further - national currency) on storage in authorized banks on security obligations;

2) procedure for storage of the transferred inventories of cash of National Bank in national currency authorized banks;

3) procedure for carrying out by National Bank and authorized bank of audits of inventories of cash stored and cash of operational cash desk in national currency of authorized bank which is kept in one storage with cash inventories stored in own or leased storages of the bank and/or in own safes of authorized bank used as storages for storage of cash (further - storages);

4) procedure for conducting check of authorized bank by National Bank concerning the organization and carrying out inventory operations of cash stored regarding observance of requirements of regulatory legal acts of National Bank for the organization of cash work, collection of means and transportation of currency values of banks in Ukraine, protection of premises of banks in Ukraine, and also requirements of the internal documents of authorized bank approved according to requirements of this provision (further - check);

5) the list of transactions which are performed by authorized bank with cash inventories stored.

6. The National Bank administrative acts establishes:

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