On July 3, 2015, the Board of the National Bank of Ukraine adopted Resolution No 436 On Amendemnts to Some Regulations of the National Bank of Ukraine  (hereinafter – Resolution No 436).

Resolution No 436 has been adopted with the aim of exercising efficient control over banks’ full and timely compliance with  the reserve requirements set by the National Bank of Ukraine in connection with the transfer of supervisory functions related to the exercise of control over banks’ compliance with the reserve requirements from the NBU regional offices to the  Banking Supervision Department.   

In addition, the need to streamline the terms and conditions under which banks conduct their own operations of purchasing  foreign currency for hryvnias within the limits of the open foreign exchange position necessitated the adoption of the aforementioned Resolution.