On 10 February 2016 February 63, the Board of the National Bank of Ukraine issued Resolution No. 63  On Approval of the Rules Governing the Physical Security of the Premises of Banks Operating in Ukraine (hereinafter Resolution No. 63).

Resolution No. 63 is designed to secure the ability of banks operating in Ukraine to protect the health and life of their employees and ensure the safe custody of cash and other valuables. 

Resolution No. 63, inter alia, has:

1. Increased the limits of cash stored in the automated and semi-automated ATM systems with which non-isolated cashier workstations are equipped up to an amount equal to 600 and 200 minimum wages respectively;
2. Provided banks with an opportunity to insure cash and other valuables stored in the banks' vaults;
3. Simplified the procedure for selecting physical security measures and manned guarding capabilities by banks depending on the amount of cash and valuables kept at the bank premises (a bank shall select physical security measures and manned guarding capabilities depending on whether the amount of cash and valuables stored at the bank is above or below  an amount equal to 4,000 minimum wages. This resolution provides banks with two options.

Establishing open (not bearing the stamp “For Official Use Only”) rules governing  the physical security of the premises of banks and providing banks with an opportunity to insure cash and valuables represents the next step forward taken by the regulator towards the approximation of NBU regulations with European principles and norms.  

The NBU subdivisions shall conduct inspections to verify banks’ compliance with this regulation.

Resolution No. 63 comes into effect from  13 February 2016.