The National Bank of Ukraine (NBU) from July 24 introduced the emergency regime of operation for banks in Luhansk, Donetsk regions and Crimea, reads a posting on the Web site of the NBU.
“From July 24, 2014, the NBU introduced the emergency regime of
operation for the banking system in Luhansk, Donetsk regions and Crimea.
The decision is linked to the situation which makes impossible the
operation of the banking system in the usual regime and it is aimed at
the provision of financing of the needs of the state and vital activity
of the population,” reads the report.
As reported, the NBU approved rules on the organization of the
operation of the banking system in the emergency regime in resolution
No. 435 of July 22.
According to the document, the NBU board has the right to make
decisions on the suspension and ban of the operation of banks or
carrying out certain transactions.
It is foreseen that if banks do not have a possibility of sending a
banking payment via the electronic payment system, they are obliged to
ensure the acceptation of payment orders in the national currency on
paper or in the form of electronic documents from payers that will be
sent to the bank using the remote servicing system.
In addition, the NBU regulates the operation with cash in the
emergency conditions, in particular, foreseeing damage of cash by paint
or in other way in the territorial departments if it is impossible to
take out the banknotes.
The central bank also could amend a procedure for forming and storing
obligatory reserves if the emergency regime is introduced on the basis
of order documents and a procedure for issuing and paying refinancing
credits.
According to the document, if the emergency regime is introduced, the
NBU can also change some requirements, in particular, on the
organization and functioning of the foreign currency market, interstate
payments, settling of transactions with foreign currency (trade and
non-trade transactions linked to movement of capital) and movement of
currency values via the customs border of Ukraine.
