On the operation of the banking system and currency market from February 24, 2022 in the conditions of martial law throughout the territory of Ukraine

The National Bank quickly adopted the Resolution in connection with the declaration of martial law throughout the territory of Ukraine, which, in particular, stipulates that:

banks ensure the uninterrupted operation of branches in the absence of threats to the life and health of the population;

banks continue their work taking into account the restrictions defined by this Resolution;

access to safe deposit boxes is ensured in uninterrupted mode;

non-cash payments are made without restrictions;

ATMs are replenished with cash without restrictions;

The NBU provides unlimited cash reinforcements;

The NBU carries out blank refinancing of banks to maintain liquidity without restrictions on the amount for a period of up to 1 year with the possibility of extension for another 1 year;

payments of the Government of Ukraine are made without restrictions, in accordance with the legislation on the special period.

 The relevant Decree also provides for the introduction of temporary restrictions starting on February 24, 2022, in particular:

suspend the operation of the currency market of Ukraine, except for operations of selling foreign currency by customers;

fix the official rate for February 24, 2022;

limit the withdrawal of cash from the client's account in the amount of UAH 100,000 per day (not including salary payments and social benefits), except for enterprises and institutions that ensure the implementation of mobilization plans (tasks), the Government and individual permits of the National Bank without accrual and withdrawal of commissions;

prohibit the issuance of cash from customer accounts in foreign currency, except for enterprises and institutions that ensure the implementation of mobilization plans (tasks), the Government and individual permits of the National Bank;

introduce a moratorium on cross-border currency payments (except for enterprises and institutions that ensure the implementation of mobilization plans (tasks) and the Government, separate NBU permits);

stop the servicing banks from carrying out expenditure operations on the accounts of residents of the state that has carried out armed aggression against Ukraine;

banks issuing electronic money to suspend issuing electronic money, replenishing electronic wallets with electronic money, distributing electronic money.

 Corresponding actions are necessary to ensure reliable and stable functioning of the country's financial system and maximum support for the activities of the Armed Forces of Ukraine, as well as uninterrupted operation of critical infrastructure facilities. We emphasize that the Board of the National Bank of Ukraine ensures its work in accordance with the Law of Ukraine On the National Bank, the Regulations of the Board of the National Bank of Ukraine in the conditions of a special period, approved by the decision of the Board of the National Bank of Ukraine dated August 21, 2019 No. 606-rsh, regulatory and administrative acts National Bank of Ukraine. The above changes were approved by Board Resolution No. 18 of February 24, 2022 "On the operation of the banking system during the introduction of martial law".

https://bank.gov.ua/ua/news/all/pro-robotu-bankivskoyi-sistemi-ta-valyutnogo-rinku-z-24-lyutogo -2022-roku-za-umovi-voyennogo-stanu-po-vsiy-teritoriyi-ukrayini