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NBU Depository Operates in Line with Ukrainian Law

NBU Depository Operates in Line with Ukrainian Law

In the current conditions, the Depository of the National Bank of Ukraine operates in accordance with the legislation of Ukraine to ensure the reliable and stable functioning of the government securities depository accounting system.

Please note that to safeguard the integrity of the depository system data and to back it up, the NBU Depository has temporarily suspended the depository accounting system transactions, effective 12 a.m. 24 February 2022. This does not apply to transactions required for the pursuit of the NBU’s monetary policy, as well as transactions by the Ministry of Finance to service public debt. This decision came after the Ukrainian authorities imposed state of emergency and then martial law.  

Depository institutions that have opened aggregated securities accounts in the automation system of the NBU Depository must ensure, by the end of 24 February 2022, that information on securities holders and the securities held by them is transferred to the NBU Depository through secure communication channels. This information must be up to date as of 12 a.m. 24 February 2022.

Owner information must at least include the following required data:

  • full name of the owner
  • owner’s code (EDRPOU identification code/nonresident registration code/taxpayer registration card number)
  • ISIN
  • number of securities
  • status of the encumbrance with which the accounting of the securities in the securities account is conducted (if any).

We reiterate that depository transactions to regulate the banking system’s liquidity (refinancing transactions) are being conducted by the NBU Depository in business-as-usual mode. CredLine software and hardware are also operating on a normal schedule.

A separate announcement will be made when the depository accounting system of the NBU Depository goes back into operation.

Relevant changes were approved by NBU Board Resolution No. 20 On the Operation of the Depository of the National Bank of Ukraine Under Martial Law dated and effective 24 February 2022.

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