As part of implementing the Policy on Cash Circulation, the cash circulation units operating in Kirovohrad and Rivne oblasts will cease providing cash handling services from 1 October 2017 (NBU Board Decision No 486-D On Optimization of the Сash Distribution in Kirovohrad and Rivne Oblasts.
This decision was taken as part of the NBU transformation project and represents the next step toward the centralization of regulator’s functions.
Banks and and their standalone subdivisions operating in Kirovohrad and Rivne oblasts will be be supplied with cash via the adjacent (neighbouring) regions where the NBU Cash Circulation units operate, the interbank market. Cash will also be supplied to them by the banks designated by the NBU as custodians of the NBU cash reserves responsible for supplying regions with cash.
As of 26 July 2017, Oshchadbank JSC (NBU Board Decision No. 102-D of 24 February 2017) and CB PRIVATBANK PJSC (NBU Board Decision No. 460-D of 19 July 2017) were designated by the NBU as authorized banks
The aforementioned banks, which have a wide network of branches and stand-alone offices operating in all the Ukrainian regions, will supply the regions with cash through their banks, as well as through other banks and accept excess cash from banks.
The streamlining of the cash distribution system, including through the restructuring of the existing network of the regional cash circulation units will proceed throughout 2017 – 2018.
The Policy on Cash Circulation provides for a shift from an in-house centralized cash circulation model, which is currently in place in Ukraine, to an outsourcing model.
On 1 December 2016, the cash circulation units operating in Ternopil and Zhytomyr oblasts ceased providing cash handling services. These regions are supplied with cash ia the adjacent (neighbouring) regions. The functions were devolved to other regions in the context of centralization of the NBU functions.