RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of May 19, 2014 No. 286

About approval of the Procedure for opening and use of means according to current accounts of international financial institutions which are opened in authorized banks

Due to the adoption of law of Ukraine of July 4, 2013 No. 400-VII "About introduction of amendments to the Law of Ukraine "About securities and the stock market" concerning bond emission of international financial institutions", according to Articles 7, of 25, of 30, of 44, "About the National Bank of Ukraine" and Sections II and III of the Decree of the Cabinet of Ministers of Ukraine of February 19, 1993 No. 15-93 "About system of currency control and currency exchange control" the Board of the National Bank of Ukraine decides 56 Laws of Ukraine:

1. Approve the Procedure for opening and use of means according to current accounts of international financial institutions which are opened in authorized banks which is applied.

2. Bring in the Regulations on procedure for foreign investment into Ukraine approved by the resolution of Board of the National Bank of Ukraine of August 10, 2005 No. 280, registered in the Ministry of Justice of Ukraine on August 29, 2005 at No. 947/11227 (with changes), the following changes:

Item 2.1 of Chapter 2 after the paragraph of the sixth to add 1) with the new paragraph of the following content:

"Transfer from own investment account funds in hryvnias into the account of the international financial institution having permission of the central executive body providing forming of the state financial policy to implementation of bond emission in the territory of Ukraine opened in authorized bank for investment of means into these bonds".

With respect thereto to consider the paragraph of the seventh the paragraph the eighth;

Item 3.1 of Chapter 3 to add 2) with the new paragraph of the following content:

"The international financial institution having permission of the central executive body providing forming of the state financial policy to implementation of bond emission in the territory of Ukraine from the account opened in authorized bank in national currency into the investment account in national currency of the foreign investor for the repayment/redemption of these bonds and payment of the income for them".

3. To general department of monetary policy (Scherbakova A. A.) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to the attention of territorial administrations of the National Bank of Ukraine and banks of Ukraine for use in work.

4. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Prikhodko B. V.

5. The resolution becomes effective from the date of its official publication.

Approved by the Resolution of Board of the National Bank of Ukraine of May 19, 2014, No. 286

Procedure for opening and use of means according to current accounts of international financial institutions which are opened in authorized banks

1. This Procedure No. 15-93 "About system of currency control and currency exchange control", Chapter 14 of the Instruction about procedure for opening, use and closing of accounts in national and foreign currencies, approved by the resolution of Board of the National Bank of Ukraine of November 12, 2003 No. 492, registered in the Ministry of Justice of Ukraine on December 17, 2003 at No. 1172/8493 (with changes) (further - the Instruction), and also other regulatory legal acts of the National Bank of Ukraine is developed according to requirements of the Law of Ukraine "About the National Bank of Ukraine", article 10-1 of the Law of Ukraine "About securities and the stock market", the Decree of the Cabinet of Ministers of Ukraine of February 19, 1993.

This Procedure establishes procedure for opening by banks of current accounts in national and foreign currencies of the international financial institutions having the right to open current accounts in the territory of Ukraine according to international treaties of Ukraine (further - IFI), and their use for carrying out in the territory of Ukraine of payments on:

to the transactions of IFI connected with issue of own bonds in the territory of Ukraine;

to transactions of IFI with residents according to credit agreements, loan agreements, agreements of the guarantee/guarantee within the projects relating to coverage of international treaties of Ukraine.

Action of this Procedure does not extend to accounts of corresponding banks in foreign currency and in hryvnias, opened in authorized banks in the procedure established by the legislation of Ukraine.

2. The bank opens current accounts for IFI with observance of requirements, stipulated in Item 14.2 Chapters 14 of the Instruction. For IFI which does not treat specialized agencies of the United Nations (further - the UN), instead of the documents identifying UN specialized agency to bank submits documents (the copy of documents certified in accordance with the established procedure) allowing bank to identify IFI.

IFI which performs bond emission in the territory of Ukraine in addition represents the copy of permission of the central executive body providing forming of the state financial policy on implementation of bond emission by such IFI. Information that IFI opens the account for carrying out the transactions connected with bond emission in the territory of Ukraine surely is specified in the statement for opening of the current account in the line "Additional information".

The bank opens investment accounts and supplementary (deposit) accounts of IFI with observance of the requirements established by Chapter 16 of the Instruction. Requirements of regulatory legal acts of the National Bank of Ukraine concerning implementation of foreign investments to Ukraine do not extend to transactions on placement of IFI (according to appendix to this Procedure) funds in hryvnias into the supplementary (deposit) account.

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