RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of November 17, 2004 No. 555

About approval of the Instruction for financial accounting of foreign currency transactions and bank metals in banks of Ukraine

According to article 41 of the Law 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 financial accounting of foreign currency transactions and bank metals in banks of Ukraine the Board of the National Bank of Ukraine DECIDES:

1. Approve the Instruction for financial accounting of foreign currency transactions and bank metals in banks of Ukraine it (is applied).

2. To accounting department (V. I. Rychakivskaya) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks for management and use in work.

3. Recognize invalid:

the resolution of Board of the National Bank of Ukraine of 16.12.98 No. 520 "About modification and amendments in some regulations of the National Bank of Ukraine", with changes;

the resolution of Board of the National Bank of Ukraine of 07.12.2000 No. 471 "About modification of Accounting rules by authorized banks of Ukraine of exchange transactions in foreign currency and bank metals", registered in the Ministry of Justice of Ukraine 26.12.2000 for No. 950/5171;

the resolution of Board of the National Bank of Ukraine of 22.04.2002 No. 146 "About modification of Accounting rules by authorized banks of Ukraine of exchange transactions in foreign currency and bank metals", registered in the Ministry of Justice of Ukraine 11.05.2002 for No. 421/6709;

Item 2 of the resolution of Board of the National Bank of Ukraine of 06.08.2003 No. 325 "About approval of the Regulations on implementation of transactions by authorized banks with bank metals and modification of some regulatory legal acts of the National Bank of Ukraine", registered in the Ministry of Justice of Ukraine 29.08.2003 for No. 749/8070, with changes.

4. The resolution becomes effective since January 1, 2005.

5. To impose control over the implementation of this resolution on territorial administrations of the National Bank of Ukraine.

Approved by the Resolution of Board of the National Bank of Ukraine of November 17, 2004 No. 555

The instruction for financial accounting of foreign currency transactions and bank metals in banks of Ukraine

I. Basic provisions and terms

1. This Instruction determines the methodological principles of reflection in financial accounting of information on foreign currency transactions and bank metals (except transactions with derivative financial instruments) which perform banks of Ukraine according to requirements of the legislation of Ukraine.

2. This Instruction is 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", other legal acts of Ukraine, regulatory legal acts of the National Bank of Ukraine and international accounting standards.

3. The terms used in this Instruction are used in the following values:

representation currency - currency in which the financial reporting moves;

activity date - date with which the bank undertakes the obligation to acquire or sell asset;

settlement date - date with which the asset is transferred to bank or bank;

monetary items are a withheld units of currency, and also assets and liabilities which shall receive or pay in fixed or determined quantities of units of currency;

not monetary items - Articles others, than monetary items of balance.

Other terms used in this Instruction are used in the values given in legal acts and regulatory legal acts of the National Bank of Ukraine concerning currency control.

4. The bank reflects in financial accounting of foreign currency transaction and bank metals according to their economic essence according to balance and off-balance sheet 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).

5. Financial accounting of foreign currency transactions and book price of bank metals (further - the official rate) performs bank in double assessment, namely in the nominal amount of foreign currency, metal weight units concerning which the official rate is established, - troy ounces and hryvnia equivalent on the official rate.

6. The bank in case of reflection in financial accounting of foreign currency transactions and bank metals according to balance sheet accounts can use technical accounts 3800 and 3801 of the Chart of accounts.

At the end of each operational day of the amount of remaining balance in hryvnia equivalent on technical accounts 3800 and 3801 of the Chart of accounts shall be identical.

Differences between the amounts of remaining balance in the hryvnia equivalent of foreign currency and bank metals on technical accounts 3800 and 3801 of the Chart of accounts arising in connection with mathematical rounding are reflected on account 6204 of the Chart of accounts.

7. The bank for reflection of transactions on purchase and sale of foreign currency and bank metals on off-balance accounts can use off-balance accounts of Section 99 of the Chart of accounts.

8. Analytics of assets and liabilities in foreign currency and bank metals, open foreign exchange positions and their hryvnia equivalents are performed by currency codes and bank metals.

9. Foreign currency transaction and bank metals are reflected in representation currency by recalculation of foreign currency amount and bank metals using the official rate for date of recognition of assets, obligations, equity, the income and expenses.

For each date following after recognition:

1) all monetary items in foreign currency and bank metals are reflected in financial accounting on the official rate in case of each change of the official rate;

2) not monetary items in foreign currency and bank metals which are considered at cost are reflected in financial accounting on the official rate for transaction date;

3) not monetary items in foreign currency and bank metals which are carried at fair value are reflected in financial accounting on the official rate for date of determination of their fair value.

10. The bank is reflected in financial accounting of transaction on purchase and sale of foreign currency and bank metals under the terms by Tod, volume and spot (further - spot) with use of accounting method on settlement date.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info