National Bank of Ukraine Completes the Second Stage of Centralization of Regional Offices Network

The #National_Bank_of_Ukraine has completed the transfer of banks’ correspondent accounts to the #NBU Head Office, which marked the completion of the second stage of centralization of regional offices network. 

Following the #centralization of functions performed by the Kyiv Regional Office, the NBU was able to transfer all the banks’ accounts to the NBU Head Office operating in Kyiv.  This move marked the final stage of the consolidation of the balance sheet of the NBU representative office operating in Kyiv. I would like to point out that we have managed without any difficulty to promptly transfer the banks’ accounts to the NBU Head Office,” said NBU Deputy Governor Mr Vladyslav Rashkovan.

Not much effort was required from banks: they have signed supplementary agreements to those already in force. They were involved in this transfer process only on the day when the correspondent account balances were transferred to the NBU Head Office.

The NBU has consolidated its balance sheet to the extent possible. Presently, only the NBU Banknote Printing and Minting Works and Banknote Paper Mill maintain separate balance sheets,” said Mr Rashkovan. “The NBU will remove defunct its regional offices from the state register and finalize the centralization of its regional offices network.

The balance sheets of all the NBU regional offices had been consolidated and the regional offices had been removed from the NBU’s organizational structure by the end of last year as part of a comprehensive transformation project to reshape the central bank.

Up until the launch of the NBU transformation project, the banks’ correspondent accounts were held with the NBU regional offices.   Since the end of 2014, these accounts were transferred to the NBU Regional Office operating in Kyiv.

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