The National Bank of Ukraine has made amendments to Ukrainian Banks’ Chart of Accounts and the respective Instruction on application of the Chart of Accounts. These amendments were approved by NBU Board Resolution No.39 of 24 May 2017.

Amendments to  Ukrainian Banks’ Chart of Accounts are intended to better capture transactions with  financial derivatives broken down by types and  transactions with embedded derivatives in accounting records. In addition, this will provide for separate presentation of the revaluation of the derivatives and gains and losses arising from the sale-purchase of financial assets.

These amendments will enhance the ability of the NBU to perform its prudential supervisory function. The supervision block of the regulator will be able to promptly analyze transactions  with  derivatives broken down by types  that are performed at Ukrainian banks  and transactions with embedded derivatives.

NBU Board Resolution No. 39 has:

• Introduced new accounts to the groups of accounts 304 , 314, 335, 336, 338, 920, 921, 935, 936.

The accounts record assets and liabilities under transactions with derivatives perfumed at Ukrainian banks and transactions with embedded derivatives.

• Introduced new groups of accounts 620 and 621 in Section 62.

These accounts will provide for separate presentation of the revaluation of the derivatives and gains and losses arising from the sale-purchase of financial assets.

The Resolution shall come into force from 1 July 2017. The NBU will  provide clarifications to Ukrainian banks prior to the entry into effect of this resolution.