Taking into account the specifics of the financial market operation under martial law, the NBU has revised the range of fees for depository services and services for record-keeping and circulation of the NBU's certificates of deposit. The revised fees were brought in line with the cost of services. Some fees for depositary services were reduced compared to the current fee schedule. At the same time, some fees were revised upwards to reflect the growth in their current cost and the NBU's future needs to develop the relevant business lines.
By NBU estimates, fair pricing of services will have a positive impact on investors' decisions to purchase domestic government debt securities.
In order to preserve the favorable conditions for increasing the volumes of purchases of domestic government debt securities by a wide range of investors, including households, as well as to place temporarily idle funds of local budgets by purchasing such securities, the NBU has maintained zero fees for services (transactions) related to the record-keeping and circulation of war bonds to their maturity.
In addition, the NBU has optimized the fee structure by reducing the list of fees for greater customer convenience.
The updated range of fees for depositary services was approved by NBU Board Resolution No. 70 On Amendments to NBU Board Resolution No. 173 dated 6 August 2022 dated 23 May 2023, which is effective from 24 May 2023.
At the outbreak of the full-scale war, the NBU temporarily canceled the fees for all depository services, effective 24 February 2022. This step eased the burden on the financial system and facilitated the operation of the domestic debt market.
At the end of 2022 and in April 2023, the NBU decided to put off the return of some of these fees – namely, the fees for depository services provided to depository institutions and the fees for servicing sovereign Eurobond transactions (in favor of the NBU's depositors while it performs the function of a depository institution). This step was taken to maintain the uninterrupted functioning of Ukraine's public finances during the war.