The NBU expands the list of banks to be involved in custodial services with respect to NBU cash reserves.
To that end, on 2 October 2017, the Board of the National Bank of Ukraine issued Resolution No. 96 On Amendments to the Regulation on the Selection Procedure and Eligibility Criteria to be Met by Banks to Qualify as Custodians of NBU Cash Reserves (hereinafter – Resolution No. 96).
As it is known, the NBU selects the banks to be involved in custodial services for its reserves in accordance with the relevant criteria. The banks that meet the established criteria shall be admitted to the selection procedure.
As of today, Oschadbank JSC and PrivatBank PJSC have the status of authorized banks eligible to provide custodial services pertaining to NBU cash reserves.
With the aim of expanding the list of banks to be involved in custodial services as regards NBU cash reserves, Resolution No. 96 expands the list of criteria according to which the NBU admits banks to participate in the selection procedures.
Today, to provide custodial services as regards NBU cash reserves, the banks that employ cash collection services provided by other banks or legal entities that were granted the NBU license to provide cash collection services to banks, were added to the list of banks that collect funds and transport monetary values.
In this case, transportation of cash to destination may be provided by both the bank and cash collection units of other bank / legal entity licensed by the NBU to provide cash collection services (pursuant to NBU regulations).
Furthermore, Resolution No. 96 makes changes to the list of documents to be provided to the NBU to acquire the status of an authorized bank viz. the list is supplemented with the requirements regarding the compliance of technical conditions of cash vaults (safes) with the requirements of NBU regulations, and the banks should provide copies of the relevant certificates as to technical conditions of cash vaults (safes), etc.
Resolution No. 96 comes into effect from 5 October 2017.