RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of August 29, 2014 No. 540

About introduction of additional mechanisms for stabilization of the monetary and currency markets of Ukraine

List of amending documents

Considering the social and political tension, availability of certain risk elements and uncertainty concerning further developments, and also in view of the economic problems connected with conducting anti-terrorist operation in the territory of Ukraine for the purpose of non-admission of use of financial system of Ukraine for money laundering and financing of terrorism and settlement of situation in the foreign exchange market of Ukraine, being guided by article 99 of the Constitution of Ukraine, Articles 6, of 7, of 15, of 33, 55 and Sections IV, V, VIII of the Law of Ukraine "About the National Bank of Ukraine", Articles 66, 67 and Chapter 11 of the Law of Ukraine "About banks and banking activity", Articles 4, 6 and 11 Decrees of the Cabinet of Ministers of Ukraine of February 19, 1993 No. 15-93 "About system of currency control and currency exchange control", the Board of the National Bank of Ukraine decides:

1. Enter the following events on activities of banks and financial institutions:

1) to permit residents to perform repayment of the credits, loans (including financial aid) in foreign currency under contracts with nonresidents, including in case of the conclusion of supplementary agreements to credit agreements, not earlier than the term provided by agreements. The specified requirement extends to cases of early accomplishment by the resident borrower of obligations both on the main amount of credit/loan, and on other payments established by the agreement of crediting (loan).

The National Bank of Ukraine does not perform registration of changes in agreements on attraction by resident borrowers of the credits, foreign currency loans from the nonresidents concerning reducing terms of accomplishment by resident borrowers of obligations under such agreements or their early accomplishment;

Requirements of this subitem do not extend to cases of early repayment of the credits, loans:

attracted with authorized banks on the terms of subordinated debt, in the conditions of the direction of ahead of schedule repaid subordinated debt on increase in the authorized capital of authorized borrowing bank and receipt of the corresponding permission of the National Bank of Ukraine;

at the expense of the funds raised by the resident borrower according to other credit agreement (loan agreement) with the nonresident if this agreement provides later term of accomplishment of obligations of the borrower (fully or partially) in comparison with conditions of the previous credit agreement (loan agreement);

2) authorized banks perform transactions on purchase and sale of foreign currency for the hryvnias in the interbank foreign exchange market of Ukraine according to regulatory legal acts of the National Bank of Ukraine regulating procedure and terms of trade in foreign currency. Transactions without delivery of currencies are prohibited;

3) to permit to perform transactions selling cash foreign currency or bank metals to one person in one operational (working) day in the amount which is not exceeding within one bank institution in equivalent of 3000 hryvnias.

Restrictions on transaction amount selling cash foreign currency do not extend to case of carrying out such transaction by bank with physical resident person in case of simultaneous observance of the following conditions:

the physical person buys cash foreign currency and uses it only on the purpose of accomplishment of own obligations in foreign currency according to the credit agreement signed with authorized creditor bank;

the bank performs sale of cash foreign currency in the amount which is not exceeding amount of obligations in foreign currency of physical person borrower according to the credit agreement. The bank shall provide control of strict observance by physical person borrower of the requirement about target use of the purchased cash foreign currency;

4) at the request of physical persons out of limits of Ukraine transfer of foreign currency on the current currency uncommercial transactions is made:

without supporting documents from the current account in foreign currency or without its opening - on the amount which in equivalent does not exceed 15 000 hryvnias in one operational (working) day. Physical nonresident persons make such transfer based on the documents confirming sources of origin of means;

from the current account in foreign currency - on the amount which in equivalent exceeds 15 000 hryvnias, but no more than 150 thousand hryvnias a month. Physical resident persons make such transfer only based on supporting documents.

The requirements for restriction of transfer amount specified in paragraph three of this subitem do not extend on:

payment of expenses on treatment in medical institutions of other state, and also on payment of expenses on transportation of patients;

payment of the expenses connected with the death of citizens abroad (transportation expenses and expenses on burial);

transfer which are made based on sentences, decisions, determinations and resolutions of judicial, investigating and other law enforcement agencies;

payment of expenses on training only for payment of educational process;

money transfers, received as compensation by nonresidents in Ukraine, pension, the alimony;

payment of expenses to foreign judicial, investigating, notarial and other authorities (including tax payment, charges, other obligatory payments);

transfer which are made by citizens in case of trip abroad on the permanent residence;

5) banks shall limit cash disbursement of means in national currency through cash desks and ATMs in limits to 150 000 hryvnias a day on one client. Requirements of this subitem do not extend to cash disbursement of means:

on salary payment, expenses (within the regulations established by the legislation), pensions, grants, others the social and equated to them payments (except financial support);

on payments of the guaranteed compensation amounts to investors by fund of guaranteeing household deposits;

6) to suspend release of savings (deposit) certificates by banks. Repayment of earlier issued savings (deposit) certificates is performed by money transfer into the account of the certificate holder or his bearer;

7) authorized banks have the right ahead of schedule to pay back the deposits attracted in foreign currency on all agreement types and ahead of schedule to settle the savings (deposit) certificates nominated in foreign currency, in national currency on the buying rate of foreign currency of authorized bank on the date of carrying out transaction;

8) to set limit of common long open foreign exchange position of bank for authorized banks (L13-1) no more than 1%;

9) authorized banks shall limit issue (obtaining) of cash in foreign currency or bank metals from the current and deposit accounts of clients through cash desks and ATMs in limits to 15 000 hryvnias a day on one client in equivalent on the official rate of the National Bank of Ukraine.

The specified requirement extends to issue (obtaining) of cash both within Ukraine, and beyond its limits irrespective of the number of customer accounts in one bank.

Requirements of this subitem do not extend on:

diplomatic representations, consular establishments of foreign states in Ukraine, international financial institutions, representative offices of international financial institutions and their employees if they are not citizens of Ukraine or do not live in it constantly and accredited by the Ministry of Foreign Affairs of Ukraine;

transactions on providing expenses of workers abroad residents - legal entities and physical persons entrepreneurs and foreign missions;

10) authorized banks shall include the amount of book value of the acquired bonds of internal state loans with indexed cost reduced by the size of the added coupon yield in calculation of common (long/short) open foreign exchange position;

11) authorized banks shall provide carrying out the weighed policy when implementing transactions on foreign exchange trade and for this purpose they shall perform:

daily monitoring of transactions of clients on purchase of foreign currency in the interbank foreign exchange market of Ukraine in general on system of bank;

actions for operation analysis of clients for purchase of foreign currency in the interbank foreign exchange market of Ukraine regarding their compliance to essence of activities of the client and his financial condition, economic feasibility and availability of the obvious legal purpose;

the strengthened currency control over transactions of the clients on purchase of foreign currency performed based on agreements which for the first time move in bank.

Heads of banks shall take under personal control implementation of transactions by banks on foreign exchange trade in the interbank foreign exchange market of Ukraine;

12) to oblige authorized banks for implementation of purchase of foreign currency at the request of clients previously to enlist funds in hryvnias into the separate analytical account of the balance sheet account 2900 "Accounts Payable on Transactions on Purchase and Sale of Foreign Currency, Bank and Precious Metals for Clients of Bank" (further - the account 2900). From this account funds can be transferred for purchase of foreign currency not earlier than the third operational day from the date of transfer of hryvnias in this respect.

The authorized bank transfers into account 2900 such amount of means in hryvnias, sufficient for implementation of transactions on purchase of the amount of foreign currency specified in the statement transferred at the hryvnia exchange rate to foreign currency in day of transfer of funds in hryvnias into the account 2900, but not below than the official rate of hryvnia to foreign currency established by the National Bank of Ukraine this day.

In case of change in the exchange rate of foreign currency in day of making of transaction on purchase of foreign currency authorized banks are allowed to enlist in addition funds in hryvnias into account 2900 in the amount that is not enough for accomplishment of the statement of the client for purchase of foreign currency. When the client has no opportunity to transfer the additional amount in hryvnia on purchase of foreign currency and agrees to acquisition of the smaller amount of foreign currency, the bank performs purchase of foreign currency, smaller by what is specified in the statement for purchase of foreign currency.

For the purpose of non-admission of unfair practice of carrying out currency transactions, in particular purchase of foreign currency under dummy agreements which are intended for use of means in the illegal purposes authorized banks create the register on purchase of foreign currency which moves in the National Bank of Ukraine in day of receipt of the statement of the client for purchase of foreign currency, together with documents which are the basis for purchase of foreign currency.

The authorized bank shall provide steady observance of requirements of this subitem. With respect thereto banks shall refuse to clients crediting (advancing) in foreign currency if such funds are raised for payment of obligations of the client in foreign currency in order to avoid accomplishment of the requirement of this subitem;

13) cash disbursement of the means within Ukraine on electronic means of payment emitted both residents, and nonresidents, is performed in hryvnias;

14) to prohibit carrying out such foreign currency transactions:

on return abroad is the means received by foreign investors on transactions on sale outside stock exchanges of securities of the Ukrainian issuers except government bonds of Ukraine;

on return abroad is the means received by foreign investors on transactions selling corporate laws of legal entities which are not drawn up by shares;

on return abroad to the foreign investor of dividends (except cases of return of dividends on the securities addressing on the stock exchanges);

based on individual licenses of the National Bank of Ukraine (except cases of implementation of transactions based on individual licenses on placement of currency values on the accounts outside Ukraine issued by the National Bank of Ukraine to legal entities);

15) transfer of the charitable help by charitable organizations and money transfer by the Ministry of Health of Ukraine out of limits of Ukraine for payment of treatment of physical persons are performed based on the documents confirming need of such treatment for foreign medical institution and do not require availability of the act of price examination of the State company "State Information and Analysis Center of Monitoring of the Foreign Goods Markets" or approval of the National Bank of Ukraine, and also the individual license of the National Bank of Ukraine.

2. Determine that for operation of this resolution operational day of bank lasts till 18:00. The transactions of bank performed later the terminations of operational day are reflected bank next day.

3. Determine that for operation of this resolution application to authorized banks of penalties for violation of Item 15 of the Section I of the Regulations on procedure and terms of trade in foreign currency approved by the resolution of Board of the National Bank of Ukraine of August 10, 2005 No. 281, registered in the Ministry of Justice of Ukraine on August 29, 2005 on No. 950/11230 stops (with changes).

4. Other regulatory legal acts of the National Bank of Ukraine are effective in the part which is not contradicting requirements of this resolution.

5. The resolution becomes effective on September 2 and is effective till December 2, 2014 inclusive.

6. I reserve control over the implementation of this resolution.

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info