Instruction for financial institutions in case of emergency
The National Bank of Ukraine has allowed commercial banks to destroy banknotes, says Resolution №435 adopted by the NBU specifying work of financial institutions in emergency situations, Vesti (Вести) reports.
The resolution says banks can invoke this right only in one case - if there is no possibility to move cash out to a regional office of the NBU, and provided that they have a permit issued by the National Bank. A report on unfit notes drawn on fact should state a number of notes of each denomination and cash amount and be signed by witnesses – employees of the bank.
So far, only the National Bank of Ukraine has had the right to destroy notes.
Moreover, according to NBU’s Resolution №435, the NBU is empowered to cease work of any bank as well as prohibit any financial institution from carrying out any transactions in emergency situations.
Besides, the regulator can change rules for making payments (including international transactions), and those governing the currency market and international remittances, as well as stop e-payment, the electronic payment system that enables making interbank payments.
Moreover, in case of emergency, financial institutions are allowed to create the so called mobile bank – a wheeled bank.
