The NBU removed the opportunity to effectuate transactions with NBU certificates of deposit through trading on the stock exchange. Such decision was made taking into consideration the recommendations of the National Securities and Stock Market Commission, and it was based on the fact that certificates of deposit of the NBU are one of the standard instruments for regulating liquidity in the banking system, which are the liabilities of the central bank, and, therefore, do not refer neither to securities nor to financial instruments.
Such decision will have no negative consequences for investment opportunities of banks. From the year start, interest of banks in trading certificates of deposit of the NBU has significantly reduced with a view to gradual cut of the key policy rate. While in January-May 112 exchange-traded agreements for the total amount of UAH 11.2 billion were executed, from June on not a single one was executed.
At the same time, banks still have an opportunity to execute agreements with the certificates of deposit of the NBU in the OTC market that is now more common than executing agreements in the stock exchange market.
The outlined changes were approved by NBU Board Resolution No. 387 of 15 September 2016 On Approving Amendments to the Regulation On Procedure for Accounting and Performing Operations with the Certificates of Deposit of the National Bank of Ukraine by the National Bank of Ukraine and Ukrainian Banks. Amendments come into effect on 23 September 2016.