RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of July 29, 2014 No. 450

About modification of the Instruction about procedure for opening, use and closing of accounts in national and foreign currencies

According to article 7 of the Law of Ukraine "About the National Bank of Ukraine" and for the purpose of enhancement of procedure for maintaining customer accounts by banks the Board of the National Bank of Ukraine decides:

1. Add Item 20.1 of Chapter 20 of the Instruction on 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, Ukraine registered in the Ministry of Justice on December 17, 2003 for No. 1172/8493 (with changes), the new paragraph of the following content:

"The bank cannot close the current account of the client if on the account calculations for the external economic agreement on which obligations are not fulfilled in full were perfromed. The bank which exercises control of timeliness of calculations for the external economic transactions of the client closes the account only after removal of the external economic transactions from control".

2. To general department of monetary policy (Scherbakova O. A.) 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.

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

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

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