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NBU obliges authorized banks to increase regulator's cash reserves to at least UAH 1 bln by late 2022
KYIV. Sept 27 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has ordered the authorized banks PrivatBank, Oschadbank, Raiffeisen Bank, FUIB and Ukrsibbank (all are based in Kyiv) to increase the reserves of the National Bank’s cash to at least UAH 1 billion by the end of 2022, the press service of the NBU has reported.
The changes were adopted by NBU Board resolution No. 95 dated September 17, 2021, which was published on the regulator’s website and comes into force on February 15, 2022.
According to the document, in subsequent years of activity in the status of an authorized bank, the minimum amount of cash reserves will be calculated as the minimum average monthly amount of the balance of cash reserves in storage during a calendar year.
In addition, the resolution obliges banks to have at least one separate subdivision in the region to store cash reserves in at least 30% of regions for two years of activity in the status of an authorized bank, in 60% of regions for four years and in 80-100% of regions for six years.
The National Bank will inspect authorized banks regarding the conduct of operations with cash reserves in storage, the procedure for their storage and use for organizing cash circulation when servicing banks.
