In the first half of 2014, the system of electronic payments of the National Bank of Ukraine (hereinafter – the SEP)  delivered sound performance as the national interbank settlement system, addressed the needs of its participants for funds transfers, while ensuring that the payment processing requirements were met in terms of maximum speed, transparency, high level of security.

On average, 1.3 million payments in an amount of over UAH 55.7 billion per day were processed. The figures give an indication of the SEP sound operation.

The daily average balance of funds on the SEP participants' accounts made up UAH 31.45 billion (in the first half of 2013 – UAH 27.8 billion). The money turnover factor on the SEP participants' accounts stood at 1.77 (in the first half of 2013 – 1.70).

 In the first half of 2014, the SEP participants effected 156.4 million initial payments and sent the electronic settlement notices totaling UAH 6,694.3 billion, being 4% lower in quantity and 18% higher in value, as compared with the first six months in 2013.

The number of initial payments and electronic settlement notices sent to the SEP by Ukrainian banks and their branches amounted to 146 million documents, accounting for 93% of the total transactions made through the SEP.

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.

In the first half of 2014, the SEP participants operating with this model executed initial payments and sent electronic settlement notices amounting to 70.8 million, which accounted for 45% of their total amount.

The National Bank of Ukraine has creating the right conditions for the smooth, reliable and efficient functioning of the SEP.      

For reference

As of July 1, 2014, the SEP participants were 392 institutions, including:

• 174 banks of Ukraine;
• 154 branches of the banks of Ukraine;
• 28 bodies of the State Treasury Service of Ukraine;
• 36 institutions of the National Bank of Ukraine.