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Ministry of Justice of Ukraine

September 12, 2013

No. 1578/24110

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of August 21, 2013 No. 332

About approval of the Regulations on liquidity support of Settlement center on servicing of agreements in the financial markets

(as amended of the Resolution of Board of the National Bank of Ukraine of 10.10.2017 No. 102)

According to article 15 of the Law of Ukraine "About depositary system of Ukraine", the Law of Ukraine "About the National Bank of Ukraine", for the purpose of determination of conditions and procedure for support of liquidity of Settlement center by the National Bank of Ukraine on servicing of agreements in the Board of the National Bank of Ukraine DECIDES: financial markets

1. Approve Regulations on liquidity support of Settlement center on servicing of agreements in the financial markets which is applied.

2. To general department of monetary policy (Scherbakova O. A.) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of Department on management of currency reserve and implementation of transactions in the public market, Operation management of the National Bank of Ukraine and PJSC Settlement Center on Servicing of Agreements in the Financial Markets for use in work.

3. To impose control over the implementation of this resolution on the First Deputy Chairman of the National Bank of Ukraine Prikhodko B. V.

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

Acting Chairman

B. V. Prikhodko

Approved by the Resolution of Board of the National Bank of Ukraine of August 21, 2013 No. 332

Regulations on liquidity support of Settlement center on servicing of agreements in the financial markets

I. General provisions

1. This Provision is developed according to article 15 of the Law of Ukraine "About depositary system of Ukraine", the Law of Ukraine "About the National Bank of Ukraine", for the purpose of determination of conditions and procedure for support by the National Bank of Ukraine (further - National Bank) liquidities of Settlement center on servicing of agreements in the financial markets (further - Settlement center).

2. Terms which are used in this Provision are applied in the values determined by the legislation of Ukraine, including regulatory legal acts of National Bank.

3. The settlement center in case of origin at it temporary deficit of liquid means for accomplishment of the functions assigned to it and exhaustion of opportunities of receipt of means by it on the interbank credit market has the right to be traded in National Bank behind liquidity support.

4. The National Bank performs liquidity support of Settlement center if it does not contradict the priorities of its activities determined by the legislation of Ukraine by carrying out transactions of direct repo with it with government bonds of Ukraine (further - transaction of repo) and/or by purchase of government bonds of Ukraine which are in property of Settlement center.

5. The National Bank can perform with Settlement center of transaction only of urgent repo (the term of transaction is accurately determined), but no more than for 90 calendar days.

6. Interest income on transaction of repo is in advance caused and fixed for the period of carrying out transaction.

The interest rate which is used for determination of the price of the return sale of government bonds of Ukraine shall not be lower, than discount rate of National Bank.

The basic number of days for determination of interest income is the actual number of days in year.

7. Transactions of repo and purchase of government bonds of Ukraine can be performed with government bonds of Ukraine of all releases (except bonds of external state loans of Ukraine) which repayment period is not necessary for the term of carrying out transaction of repo (in case of carrying out transaction of repo) and provided that they are in property of Settlement center and are not burdened by any other obligations.

8. On transaction of repo purchase price by National Bank of government bonds of Ukraine is their fair value, but not above, than the nominal cost of these securities, on the date of the conclusion of the agreement.

On purchase transaction of government bonds of Ukraine purchase price National Bank of government bonds of Ukraine is their fair value.

The price of the return sale of government bonds of Ukraine by National Bank on transaction of repo depends on the price which is determined in the first part of transaction of repo, and the term of this transaction, and also from profitability by government bonds of Ukraine, discount rate of National Bank, loan interest rates and deposits in the interbank credit market, weighted average interest rate on refinance credits on security by government bonds of Ukraine which were effective in the corresponding period.

9. Transaction of direct repo which is performed between Settlement center and National Bank is credit operation and is considered on accounts of financial accounting according to economic essence of transaction according to regulatory legal acts and the ordering documents of National Bank concerning financial accounting and depository activity.

II. Procedure for carrying out transactions by National Bank on liquidity support of Settlement center

1. The settlement center for implementation of transactions of repo and/or transaction on purchase of government bonds of Ukraine by National Bank submits means of e-mail to National Bank the petition concerning carrying out transaction of repo and/or transaction on purchase of government bonds of Ukraine by National Bank certified in accordance with the established procedure with reasons for need of carrying out such transactions, with indication of amount of carrying out transactions, quantity and code (the international identification number) of government bonds of Ukraine which are offered, and in case of carrying out transaction of repo - the term of carrying out transaction and price parameters (interest rate which is used for determination of the price of the return sale of government bonds of Ukraine).

The petition of Settlement center concerning carrying out transaction of repo and/or transaction on purchase of government bonds of Ukraine by National Bank is signed by the head of Settlement center or person fulfilling its duties and the chief accountant of Settlement center in accordance with the established procedure.

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