Reminder for adherence to NBU’s Resolution No.466

The banks of Ukraine must cease all financial operations in the boroughs not controlled by the Ukrainian government, the information posted on the NBU' page on Facebook says.

The regulator accentuates necessity of the banks’ rigorous observance of the requirements set out in the NBU’s resolution adopted on 06.08.2014, under No.466 On Suspending Financial Operations (hereinafter – Resolution No.466).

An official letter thereof has been sent to the banking institutions in connection with coming of the President’s Decree into force, which was adopted on   14.11.2014, under No.875/2014, titled On Decision of the National Security and Defence Council dd. 04.11.2014 on emergency measures regarding stabilization of the socio-economic situation in Donetsk and Luhansk oblasts.

As regards Resolution No.466, it governs an issue of limitation on financial operations in the boroughs not controlled by the Ukrainian government, which are made by banks, non-banking institutions and the national postal services operator listed in the domestic/international payment systems and/or being their members.

Thus, pursuant to the requirements set out in par.1 of Resolution No.466, the banks of Ukraine are suspending all types of financial operations made in the boroughs not controlled by the Ukrainian government.  

The said above operations cover, in particular, account processing services of banks, including card accounts opened by business entities of all types of ownership.

Pursuant to par.4 of Resolution No.466 the banks will restart their operation after a district/town of the same importance as an oblast centre in Donetsk and/or Luhansk oblasts will be under control of the Ukrainian government again.