The National Bank determined the selection criteria for the banks to store cash funds of the regulator, as it is said in the relevant Board resolution dated September 28, which will come into force since October 5 of this year.
Consequently, the National Bank will place their reserves of banknotes and coins in the vaults of authorized banks.
For selection of banks, the following criteria will be applied: the state owns 75% of bank shares, or has the controlling stock of shares, which belongs to international financial and banking institutions, having the international investment grade rating from the internationally recognized rating agencies.
However, even if the financial institution meets this criteria, but the member states – members of Organization for Economic Cooperation and Development, European Union or Ukraine – apply sanctions to it or its owners, or associated persons, their final beneficiaries, it will not be considered by the National Bank.
One more key criteria is the encashment of funds within not less than 10 years, based on the written permission of the regulator.
Currently Oshchadbank, Ukrgasbank,Raiffeisen Bank Aval and Ukrsibbank meet the above criteria
