In the first three quarters of 2013, the participants in the system of electronic payments operated by the National Bank of Ukraine (hereinafter – the SEP) made almost 255 million initial payments and sent electronic settlement notices valued at over UAH 9 trillion, which was by 3% more in quantity and by 8% in value, compared to the same period of the previous year.

"237 million initial payments and electronic settlement notices were sent by Ukrainian banks, which accounts for 93% of the total number of transactions processed through the SEP," noted Director of General Department for Information Technologies and Payment Systems Nataliia Syniavska.

In the first three quarters of 2013, the portion of initial payments in the amount of up to 1000 hryvnias accounted for 64% of the total number of initial payments. The value of these transactions accounted for less than 1 % of the total amount of initial payments processed through the SEP over the reporting period.

According to Ms Nataliia Syniavska, the third model for servicing the consolidated correspondent account appeared in great demand among the SEP participants. Under this model, a legal entity has a consolidated correspondent account and the intrabank interbranch payment system, which ensures the execution of a funds transfer between the bank branches and the interaction with the SEP in order to carry out an inter-bank funds transfer between the bank branches. Ms Nataliia Syniavska said that in the first three quarters of 2013 the SEP participants operating with this model had made and sent approximately 121 million initial payments and electronic settlement notices, which accounted for 47% of the total number of transactions processed through the SEP.

In the first nine months of 2013, on average, 1,378 thousand initial payments and electronic settlement notices worth almost UAH 49 billion were processed per day, including:

in the file mode: 1, 374 thousand initial payments and electronic settlement notices worth UAH 36 billion;

in the real time mode:  4  thousand initial payments and electronic settlement notices worth UAH 13 billion.

The daily average balance of funds on the SEP participants' accounts totaled UAH 28.35 billion, while the daily average money turnover on the SEP participants' accounts stood at 1.72," said Ms Nataliia Syniavska.

According to Ms. Nataliia Syniavska, the SEP keeps operating efficiently as the national system of interbank settlements and adequately addresses the needs of its participants for funds transfers.

For reference.

The SEP is the national system of interbank settlements operating in Ukraine, which allows for the transfer of funds to be executed through the correspondent and other accounts held by the SEP participants with the National Bank of Ukraine involving the use of electronic means for acceptance, processing, transmission and protection of information.

The National Bank of Ukraine acts as a payment institution and a settlement bank for the SEP.

As of 1 October 2013, 424 institutions were the SEP participants, including:

178 Ukrainian banks;

181 Ukrainian banks' branches;

28 bodies of the State Treasury Service of Ukraine;

37 institutions of the National Bank of Ukraine.