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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of November 3, 2015 No. 762

About approval of the Regulations on procedure for sale and purchase of securities by initiation of auctions in the organized markets of the capital

(as amended on 02-07-2021)

According to Articles 6, of 7, of 15, of 25, "About the National Bank of Ukraine" and to the Regulations on use of standard instruments of regulation of liquidity of bank system by the National Bank of Ukraine approved by the resolution of Board of the National Bank of Ukraine of September 17, 2015 No. 615 (further - the Provision), for the purpose of regulation of the monetary market, and also satisfaction of requirements for transactions of refinancing and the direct repo by security sale used as pledge subject, the Board of the National Bank of Ukraine decides 42 and 56 Laws of Ukraine:

1. Approve Regulations on procedure for sale and purchase of securities by initiation of auctions in the organized markets of the capital which is applied.

2. To department of the public markets (Ponomarenko S. V.) to bring contents of this resolution to the attention of banks of Ukraine and stock exchanges which conform to requirements of Item 85 of Chapter 11 of the Section V of the Provision, for use in work.

3. The resolution becomes effective since December 01, 2015.

4. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Churiya A. E.

Chairman

V. A. Hontareva

Approved by the Resolution of Board of the National Bank of Ukraine of November 3, 2015, No. 762

Regulations on procedure for sale and purchase of securities by initiation of auctions in the organized markets of the capital

1. This Provision establishes the procedure and the main conditions of purchase/sale of securities of Ukraine by the National Bank of Ukraine (government bonds of Ukraine, corporate bonds, bonds, international financial institutions, etc.) by initiation of auctions in the organized markets of the capital.

2. In this provision terms are used in the following value:

1) the acceptance - the electronic document created by the initiator of auctions which is addressed to participants of auctions and contains unconditional consent to the conclusion of agreements (contracts) with these participants according to the conditions specified in their requests within amount which can be satisfied with the National Bank of Ukraine (the partial acceptance is allowed);

2) auction - method of carrying out the exchange biddings;

3) the sheet of transactions - the document which is provided by the operator of the organized market of the capital to person performing clearing activities and contains information on the agreements (contracts) signed in the organized market of the capital and the order on unblocking of assets;

4) electronic trading system of the corresponding organized market of the capital - set of the organizational, technological and technical means used by the operator of the organized market of the capital for providing the conclusion of agreements (contracts);

5) participants of auctions are participants of the corresponding organized market of the capital, and also in cases, stipulated by the legislation Ukraine, other persons and state bodies which according to rules of the relevant operator of the organized market of the capital acquired the right to submit applications and to sign contracts (contracts) in the organized market of the capital.

3. The National Bank of Ukraine initiates auctions on purpose:

1) regulations of the monetary market;

2) satisfactions of the requirements for granted loans and transactions of direct repo by security sale used as subject of pledge (transaction).

4. Condition for initiation of auctions by the National Bank of Ukraine is the signed contract on holding auctions between the National Bank of Ukraine and the relevant operator of the organized market of the capital.

5. Auctions are initiated in the organized markets of the capital which meet the requirements of Item 85 of Chapter 11 of the Section V of the Regulations on application by the National Bank of Ukraine of standard instruments of the regulation of liquidity of bank system approved by the resolution of Board of the National Bank of Ukraine of September 17, 2015 No. 615 (with changes), by signing by authorized persons of the National Bank of Ukraine and operators of the organized market of the capital of regulations of auctions with indication of the main conditions of their carrying out.

6. The National Bank of Ukraine during initiation of auctions follows the rules of the corresponding organized markets of the capital registered by the National commission on securities and the stock market.

7. Information on holding auctions with indication of their main conditions appears the relevant operators of the organized market of the capital not later than one working day before date of auctions.

8. Protocols of holding auctions shall include the following information surely:

1) international security identification number;

2) date or period of holding auctions;

3) period of receipt of requests;

4) requirements to representation by participants of auctions of requests;

5) procedure of payments by results of auctions;

6) requirements to the scenario of holding auctions;

7) acceptance period National Bank of Ukraine of requests of participants of auctions.

The number of securities which the National Bank of Ukraine plans to purchase (to sell) and their starting price in regulations of holding auctions can not be specified.

9. Participation in auctions is performed by giving by participants of auctions of requests. Applications are submitted if other is not established by regulations of holding auctions, in the working days from 10:00 till 15:00 on the Kiev time. Participants of auctions before the termination of term of receipt of requests can remove the submitted application or change its conditions. After completion of term of receipt of requests before the termination of term of their acceptance their removal or change of their conditions is not allowed.

During the auctions their participants can submit only applications with indication of the number of securities which they are ready to acquire certainly at the price (competitive requests) specified by them.

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