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

According to Articles 7, of 15, of 33, 56 Laws of Ukraine "About the National Bank of Ukraine", for the purpose of implementation of procedure for storage by banks of Ukraine of inventories of cash of the National Bank of Ukraine the Board of the National Bank of Ukraine decides:

1. Approve Regulations on transfer of inventories of cash on storage in authorized banks (further - the Provision) which is applied.

2. To impose control over the implementation of this resolution on the First Deputy Chairman of the National Bank of Ukraine Smoliya Ya. V.

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

Approved by the Resolution of Board of the National Bank of Ukraine of December 7, 2016 No. 408

Regulations on transfer of inventories of cash on storage in authorized banks

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, the approved resolution of Board of the National Bank of Ukraine of September 28, 2016 No. 389 (further - No. Provision 389), and other regulatory legal acts of the National Bank of Ukraine (further - National Bank).

2. Banks to which the status of authorized bank according to the Provision No. 389 is provided are involved in stock holding of cash of National Bank.

3. This Provision establishes:

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

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

3) 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 together with cash inventories stored in own or leased storages and/or in own safes which are used for storage of cash (further - storages).

4. In this Provision the following basic concepts are used:

1) the agreement on stock holding of cash of the National Bank of Ukraine (further - the agreement of storage) - the arrangement in writing between National Bank and authorized bank about transfer on storage of authorized bank of inventories of cash of National Bank, stock reduction of cash stored, increase in inventories of cash stored (considering the cash which is subject to recalculation), reinforcement of inventories of cash stored, export from cash inventories stored of cash, suitable and not suitable for the address, according to requirements of this provision, ensuring obligation fulfillment (pledge) (further - providing obligations);

2) permission - the document of National Bank signed by the authorized person of National Bank which grants the right to authorized bank on reinforcement/export and increase/reduction of cash in (from) cash inventories stored;

3) issued banknotes - banknotes which were not in circulation yet;

4) cash inventories stored - banknotes and coins of national currency which are property of National Bank, are transferred by National Bank to authorized bank to storage according to requirements of this provision and the agreement of storage and used by authorized bank only with the permission of National Bank.

The paragraph two is excluded according to the Resolution of Board of the National Bank of Ukraine of 23.10.2018 No. 112;

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

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

7) limit of inventories of cash stored - the maximum inventory quantity of cash which can be stored in authorized bank taking into account the provided providing and technical condition of storage;

8) system of automation - program and technological complex of automation of the cash address and system of automation of depositary of National Bank;

9) 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 other regulatory legal acts of National Bank.

5. The National Bank administrative acts establishes:

2) to authorized bank limits of inventories of cash stored;

3) size of adjusting factors;

4) limit of reduction of amount of providing.

6. The authorized bank for determination or increase in limit of inventories of cash stored sends National Bank the letter with information about:

1) parameters of storages (storage/safe resistance class, the area of storage/scope of the safe) in which plans to store cash inventories;

2) to the limit amount which is offered to be established on each storage.

The authorized bank adds properly verified copies of the documents confirming powers of persons on storage agreement signature to the letter.

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