The National Bank of Ukraine has postponed the reintroduction of certain fees for depository services until 23 May 2023. Namely, this concerns the fees for:
- depository services provided to depository institutions
- servicing of sovereign Eurobond transactions in favor of the NBU’s depositors when it acts as a depository institution.
The NBU continues to urge depository institutions to minimize or waive the relevant fees for their clients for the period that the NBU Depository’s fees remain suspended, in order to disseminate tools that help maintain the stability of public finances during a full-scale war.
The NBU estimates that the extended suspension of the service fees will support Ukraine’s public finances, in part by preserving favorable conditions for the government to raise financing in the domestic debt market and by reducing the transaction costs of public debt management.
This time, the NBU has postponed the imposition of certain fees for a month in view of its plans to consider the feasibility of updating the general tariff line, which may specifically include the introduction of a separate preferential approach to setting tariffs on servicing war bonds.
On 21 April 2023, the postponement of imposing certain fees for depositary services was approved by NBU Board Resolution No. 55 On Amendments to NBU Board Resolution No. 173 dated 6 August 2022, which is effective from 24 April 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 last year, the NBU decided to put off for another four months the return of some of these fees – namely, the fees for depository services provided to depository institutions and the fees for 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.