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SEP to Ensure Bank Payments without Days Off. NBU Depository to Work on 7 and 8 March 2022

The NBU canceled the transfer of the business day of the banking system from Monday 7 March to Saturday 12 March 2022. So, 7 March 2022 is set as a business day for the banking system and the NBU System of Electronic Payments (SEP) will work in a regular mode on 7–8 March 2022 to ensure payments made by banks.

This decision has been taken due to the need to ensure interbank transfers under martial law.

To provide the public with banking services under martial law in Ukraine, banks must ensure that their standalone units (branches, offices) operate without days off.

SEP will conduct interbank transfers:

during 5 - 7 March 2022 as of the banking day 7 March 2022

on 8 March 2022 as of the banking day 8 March 2022.

Respective decisions were approved by NBU Board Resolution No. 35, dated 4 March 2022, On Amendments to the NBU Board Resolution No. 142 dated 16 December 2021 and Operating Procedure of System of Electronic Payments and Custodial Accounting of the National Bank of Ukraine.

This Resolution also defines that on 7 and 8 March 2022 the custodial accounting system of the NBU Depository and Depository Institution of the NBU will operate as usual. This schedule will allow to maximize purchase of war bonds issued by Ukraine’s government by market participants and nonresidents.

Besides, PROSTIR NPS will also work in a regular mode and provide clearing and settlements for the members of the system on the said days.

At the moment, the SEP is operating without interruptions in a regular mode, following the pre-established technological procedure (23 hours a day). It means, SEP participants can make interbank payments almost 24/7, meeting their needs, needs of their clients and operating in line with Ukrainian law.

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