Commenting on the provisions of NBU Board Resolution No. 750, dated November 27, 2014, Deputy Governor of the National Bank of Ukraine Yakiv Smolii noted that in order to enhance the protection of valuables that are collected and transported, the National Bank has brought the rules into line with social and political realities in Ukraine. "The regulator is fully aware of the difficult economic environment in which banks are operating and it has taken into account the precarious and insecure conditions under which the collection of funds and transportation of currency valuables are carried out," he noted.

Therefore, in order to bring the applicable rules into line with the up-to-date requirements, encourage wider use of security facilities (special devices that ensure the protection of valuables) by banks and address other issues related to the collection of funds and transportation of currency valuables, on 27 November 27, 2014, the National Bank of Ukraine Board passed Resolution No. 750 “On amendments to the Instruction governing the collection of funds and transportation of currency valuables by banking institutions operating in Ukraine”(hereinafter – amendments to the Instruction), thereby streamlining the rules regulating the collection of funds and transportation of currency valuables.

The amended Instruction, inter alia, has:

• lifted the requirement obliging manufacturers to seek approval for technical details and terms for manufacturing armored cash transit vehicles  from the National Bank of Ukraine, given that the requirements to the necessary security facilities to be installed in armored cash transit vehicles have been set forth in the Instruction;
• obliged banks to notify the regional branches of the National Bank of Ukraine  in writing of the establishment/closure of departments responsible for collection of funds and transportation of currency valuables;  
• addressed certain issues related to the use of special technical devices by banks (transport boxes, containers, etc.) that discharge an intense liquid dye onto currency valuables when the transport box is illegally accessed.

At the same time, given the difficult economic situation in the country, the financial standing of banks, as well the loss of armored cash transit vehicles due to the political developments in the south and east of Ukraine, the amended Instruction has extended the deadline for banks to switch to the use of armored cash transit vehicles of grade 3 in accordance with the National Standards of Ukraine 3975-2000.