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Ukraine's national bank settled its cash stocks transfer, using by authorised banks

Ukraine's national bank settled its cash stocks transfer, using by authorised banksThe National Bank of Ukraine (NBU) has settled the transfer of the regulator's cash stocks to authorised banks for storage and the use of the stocks to replenish own operating cash for servicing clients and other banks, the regulator has said on its website.

The requirements determining the conditions for the transfer and storage of cash are outlined in NBU resolution No. 408 dated December 7, 2016.

According to the document, the authorised banks under cash storage contracts have the right to store NBU's cash stocks and replenish own operating cash after receiving the permit from the NBU.

The central bank said that authorised banks are to meet the regulator's criteria approved by NBU Board resolution No. 389 dated September 28, 2016.

The resolution takes effect on December 13, 2016, apart from the requirements concerning the cash box and the sluice block in the cash section of the bank, as well as equipping the cash storage facilities with automated air conditioning systems that would be effective starting December 1, 2018.
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