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NBU reports on work of banking system and foreign exchange market from February 24

The NBU has defined the rules for the operation of the banking system since February 24. Photo: NBU

The NBU has defined the rules for the operation of the banking system since February 24. Photo: NBU

From February 24, martial law has been imposed in Ukraine throughout the country. The National Bank decided that under these conditions:

  • banks ensure the uninterrupted operation of branches in the absence of a threat to the life and health of the population;
  • banks continue to work subject to the restrictions defined by the given decision;
  • uninterrupted access to safe boxes is provided;
  • non-cash payments are made without restrictions;
  • ATMs are supplied by cash without restrictions;
  • The NBU refinances banks to maintain liquidity without restrictions on the amount for up to 1 year with the possibility of prolongation for another 1 year;
  • government payments are made without restrictions under the special period legislation.

Also from February 24:

  • the work of the foreign exchange market is suspended, except for the operations of selling foreign currency by clients;
  • the official hryvnia exchange rate set on February 24 was fixed, that is, 29.95 UAH/$1;
  • limited cash withdrawal from the client's account in the amount of 100,000 UAH per day (not counting wages and social benefits);
  • cash withdrawals from clients' accounts in foreign currency are prohibited, except for enterprises and institutions that ensure the fulfillment of mobilization tasks, the government, and individual permits of the National Bank;
  • a moratorium on cross-border currency payments was introduced;
  • banks stopped carrying out debit transactions on the accounts of residents of the Russian Federation;
  • banks issuing electronic money suspend issuing electronic money, loading electronic wallets with electronic money, and distributing electronic money.

Recall that on the eve of the National Bank noted that the macroeconomic stability of Ukraine today is higher than ever before, and the banking system remains well capitalized, liquid and profitable.

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