DECISION OF EXECUTIVE DIRECTORATE OF FUND OF GUARANTEEING HOUSEHOLD DEPOSITS OF UKRAINE

of December 5, 2016 No. 2697

About approval of the Procedure for financing of payment process by agent banks of the guaranteed compensation amount on deposits within pilot project on implementation of the Automated payment system of Fund of guaranteeing household deposits

According to Item "About system of guaranteeing household deposits" the executive directorate of Fund of guaranteeing household deposits solved 10 parts one of article 12 of the Law of Ukraine:

1. Approve the Procedure for financing of payment process by agent banks of the guaranteed compensation amount on deposits within pilot project on implementation of the Automated payment system of Fund of guaranteeing household deposits which is applied.

2. To provide to department of strategy and normative and methodological providing together with legal department submission of this decision to the Ministry of Justice of Ukraine for state registration.

3. And the international organizations to provide to department of public relations placement of this decision on the official page of Fund of guaranteeing household deposits on the Internet after its state registration.

4. This decision becomes effective from the date of, its official publication following behind day.

5. I reserve control over the implementation of this decision.

Approved by the Decision of executive directorate of Fund of guaranteeing household deposits of December 5, 2016, No. 2697

Procedure for financing of payment process by agent banks of the guaranteed compensation amount on deposits within pilot project on implementation of the Automated payment system of Fund of guaranteeing household deposits

I. General provisions

1. This Procedure developed according to the Law of Ukraine "About system of guaranteeing household deposits" (further - the Law), establishes the procedure of decision making and making of actions by Fund of guaranteeing household deposits (further - Fund) about financing of payment process by agent banks of the guaranteed compensation amount on deposits to investors of banks which are removed from the market, or the liquidated banks based on part two of article 77 of the Law of Ukraine "About banks and banking activity" which are performed according to Regulations on features of implementation of payments of compensations to investors within pilot project on implementation of the automated payment system of Fund of guaranteeing household deposits, the approved decision of executive directorate of Fund of guaranteeing household deposits of December 5, 2016 No. 2698.

2. The terms used in this Provision are used in the following values:

big payments - daily average payments for the last three working days which correspond to the sizes established by the separate decision of executive directorate of Fund;

payments - payment by agent bank of the guaranteed compensation amount on deposits to investors of banks which are removed from the market, or the liquidated banks based on part two of article 77 of the Law of Ukraine "About banks and banking activity";

critical mass of claims of investors - 10 and more written reasonable complaints of bank depositors which is removed from the market, or the liquidated bank based on part two of article 77 of the Law of Ukraine "About banks and banking activity", concerning refusal in payment of the guaranteed compensation amount for deposits by agent bank, arrived in Fund during the last 30 days;

the largest payments - daily average payments for the last three working days which correspond to the sizes established by the separate decision of executive directorate of Fund.

Other terms are used in the values determined by the Law.

3. The fund twice a day (excepting festive, non-working and the days off) determines the need for financing of payment process by agent banks and in case of its detection performs money transfer to agent banks according to the financing models determined in the Section II of this provision taking into account the following requirements:

1) the first financing is performed by Fund in the working day of Fund from 9 to 13 o'clock 00 minutes and assumes:

compensation to agent bank of means on effected payments for the previous operational day of agent bank in part which is not covered with financing for the previous operational day of agent bank or if such financing was not carried out;

advancing of agent bank for implementation of payments in the present operational day of agent bank (if implementation advancing is provided by the model of financing established by Fund for the relevant agent bank);

2) the second financing is performed by Fund in the working day of Fund from 14 to 18 o'clock 00 minutes and provides compensation to agent bank of means on effected payments for the present operational day of agent bank in the part which is not covered with advancing within the first financing or if the first financing was not carried out (if implementation of this compensation is provided by the model of financing established by Fund for the relevant agent bank).

II. Models of financing by Fund of payment process by agent banks

1. The fund finances payment process by agent banks on such models of financing:

1) the model of financing "And" - assumes that agent bank during the operational day Fonda performs payments with subsequent their obligatory compensation by Fund the next working day. At the same time the model of financing "But" does not provide implementation of advancing of agent bank of implementation of payments by Fund in the present operational day of agent bank;

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