On 30 December 2015, the Board of the National Bank of Ukraine issued  Resolution No. 994 On Amendments to the Guidelines on the Interbank Transfer of Funds in Domestic Currency in Ukraine  (hereinafter Resolution No. 994). 

This resolution has brought the Guidelines on the Interbank Transfer of Funds in Domestic Currency in Ukraine approved by NBU Board Resolution No. 320, dated 16 August 2006, into line with new legislative requirements and changes in the NBU's organizational structure related to the centralization of functions and reforming the NBU’s regional offices.

Resolution No. 994, inter alia, has:

• Streamlined the procedure for opening banks’ correspondent accounts with the NBU (it is stipulated that the NBU, on its own initiative, obtains information about the bank from the website run by the central executive authority responsible for the state policy in the area of state registration of legal entities and sole proprietors);
• Set out the procedure for charging off the correspondent accounts opened by a debtor bank with other Ukrainian banks for the amount due under a refinancing agreement, without any right to appeal; and
• Removed the provisions with respect to the maintenance of banks’ correspondent accounts by the NBU Main Office in Kyiv and Kyiv oblast.

NBU Board Resolution No. 994 comes into effect from 5 January 2016.