The National Bank of Ukraine has temporarily abolished the fees for depository services and certificates of deposit accounting and circulation services.
This decision aims to promote the efficient operation of Ukraine’s financial system during martial law and take into account the limited functionality of the depository accounting system.
We also call on market participants to join this effort and reduce their own fees for investors to a minimum. Such a step should, among other things, have a positive effect on raising additional funds through Ukraine’s military bonds, which are issued weekly by the Ministry of Finance.
For the duration of martial law, the NBU will thus no longer charge fees for the services rendered by the depository and the depository institution and the services related to the accounting and circulation of NBU certificates of deposit. Canceled fees include those for:
- maintenance of securities accounts and information transactions (subscriber fee)
- custody of securities
- administrative depository transactions
- accounting depository transactions
- corporate transactions
- servicing transactions with NBU certificates of deposit.
The NBU depository has also added the transactions related to pledging government securities as collateral, changing and terminating such collateral, as well as recovering said collateral, to the list of depository transactions that may be carried out in the system of depository accounting of government securities.
Relevant changes were approved by NBU Board Resolution No. 53 On Amendments to NBU Board Resolution No. 20 dated 24 February 2022 dated 17 March 2022.
Renewal of fees for depository services and certificates of deposit accounting and circulation services will be announced in a separate press release.