Under the transformation plan and the fit-for-purpose model for centralization and transformation of the regional offices, the balance sheet assets and liabilities of the NBU regional office in Chernihiv Oblast have been transferred to be recorded in the bank’s single consolidated balance sheet maintained by the head office operating in Kyiv.
Deputy Governor of the National Bank Vladyslav Rashkovan pointed out that this move is part of the project to establish a single MFO code, which aims to merge more than 30 disaggregated balance sheets into the NBU’s single consolidated balance sheet.
“We have taken a consistent step towards the balance sheet consolidation, thus following the path taken by other banks. This will enable us not only to improve the financial management, but also to streamline the internal processes,” said Vladyslav Rashkovan.
As efforts are under way to implement a transformation project targeting the NBU regional offices, the National Bank launched its balance sheet consolidation. On September 29, the Board of the National Bank of Ukraine issued Resolution No.644, whereby the functions performed by the NBU regional office in Chernihiv Oblast will get centralized and the aforementioned office will be removed the organizational structure of the National Bank.
Thus, from Octobert 1, 2015, the NBU representatives in Chernihiv Oblast will ensure that the region’s needs in banknotes and coins of all denominations are fully met. They will also ensure that the division responsible for processing documents ("Single window) will continue to operate and deliver services. Other functions will be transferred to the relevant structural subdivisions of the NBU head office.
Please be reminded that the transformation that the regulator undergoes is part of the Comprehensive Program for the Development of Ukraine’s Financial Sector till 2020.