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The document ceased to be valid since  August 4, 2020 according to Item 2 of the Resolution of Board of the National Bank of Ukraine of  July 30, 2020 No. 112

It is registered

Ministry of Justice of Ukraine

December 3, 2003 

No. 1114/8435

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

(as amended on on October 8, 2010)

According to article 41 of the Law of Ukraine "About the National Bank of Ukraine" and for the purpose of enhancement of regulatory legal acts of the National Bank of Ukraine according to requirements of the world and national situations (standards) of financial accounting concerning display 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 (are applied).

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

3. The resolution becomes effective since January 1, 2004.

4. To impose control of execution of this resolution on territorial administrations of the National Bank of Ukraine.

 

Chairman

S. L. Tigipko

Approved by the Resolution of Board of the National Bank of Ukraine of November 12, 2003 No. 498

Accounting rules of transactions of trust management in banks of Ukraine

1. General provisions

1.1. These Rules are developed according to article 41 of the Law of Ukraine "About the National Bank of Ukraine", articles 47 and 68 of the Law of Ukraine "About banks and banking activity", articles 4 and 6 of the Law of Ukraine "About financial accounting and the financial reporting in Ukraine" and other legal acts of Ukraine concerning regulation of the separate markets of financial services, including concerning transactions of trust management.

1.2. Rules determine accounting treatment for transactions of trust management by contracts with legal entities and physical persons which are performed according to the legislation of Ukraine.

1.3. Rules are based on the basic principles of international standards and national provisions (standards) of financial accounting, in particular autonomies on which assets and liabilities of bank shall be separated assets and liabilities of trust management. Transactions of trust management do not join in balance of the bank performing functions of the manager (further - the manager).

1.4. Accounting of results of activities for transactions of trust management is performed by the isolated structural divisions of bank separately from results of activities of bank on other transactions.

1.5. The assets belonging to the fitter on the property rights and being at the manager in trust management shall be considered and be stored separately from own assets of bank.

1.6. Transactions of trust management in accounting of the manager are displayed on off-balance 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 17.06.2004 No. 280, registered in the Ministry of Justice of Ukraine 26.07.2004 for N 918/9517 (with changes)

1.7. Banks provide information on transactions of trust management in notes to the financial reporting which is constituted according to requirements of regulatory legal acts of the National Bank of Ukraine.

1.8. Accounting of transactions of trust management is performed by the manager on each fund of bank management and/or each individual agreement on trust management.

1.9. In Rules the term "fund of bank management" is used in such value:

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

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

2. Accounts which are used for accounting of transactions of trust management

For accounting of confidential transactions such accounts are used:

a) balance sheet accounts:

1001 And "Banknotes and coins in cash desk of bank";

1101 And "Bank metals in bank";

1200 And "Correspondent account in the National Bank of Ukraine";

1500 And "The correspondent accounts opened in other banks";

2600 AP "Current Accounts of Business Entities";

2601 P "Current accounts of the manager on trust management";

2620 AP "Current Accounts of Physical Persons";

2650 AP "Current Accounts of Non-bank Financial Institutions";

6116 P "The commission income from confidential customer service";

7106 And "Commission expenses on confidential servicing";

7499 And "Other expenses";

b) off-balance accounts:

9780 And "Cash on transactions of trust management";

9781 And "Current accounts of the manager on trust management";

9782 And "Receivables on transactions of trust management";

9783 And "Securities in trust management";

9784 And "Bank metals in trust management";

9786 And "Other assets in trust management";

9787 And "Expenses on transactions of trust management";

9788 And "Imputed incomes on objects of trust management";

9790 P "Funds of bank management";

9791 P of "Account of fitters";

9792 P "Accounts payable on transactions of trust management";

9797 P "Income from transactions of trust management".

3. Financial accounting of transactions on acceptance of means, securities and other assets in trust management

3.1. For the purpose of department of transactions of trust management from other transactions of bank, and also for conducting calculations by the manager for these transactions current accounts on the balance sheet account 2601 P "Current Accounts of the Manager on Trust Management" are opened for structural division of bank.

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