National Bank of Ukraine
This article needs additional citations for verification. (November 2023) |
Hryvnia UAH (ISO 4217) | |
Reserves | $40.5 billion |
---|---|
Bank rate | 25.0% (from June 03, 2022)[3]
Ukrainian SSR territory) |
Website | bank |
The National Bank of Ukraine (
History
At the end of
In the
On 20 March 1991, the
In late February/early March 2022, following the declaration of martial law on 24 February 2022, the National Bank of Ukraine took the extraordinary step of creating and promoting two separate accounts to receive donations (domestic and international) as a response to the
Legal status and structure
The legal status of the National Bank of Ukraine and the principles of its organization and activities are determined by the Constitution of Ukraine and the Law of Ukraine "On the National Bank of Ukraine".[11]
The National Bank of Ukraine is a legal entity with separated property, which is the object of the state property. Its authorized capital amounts to UAH 100 million and is the state-owned property which is in the full economic competence of the National Bank.[12]
According to Article 99 of the
According to the
The National Bank of Ukraine has the power to initiate legislation.[13] Resolutions of the NBU becoming valid just by publishing on their homepage www.bank.gov.ua. Decisions of the NBU may be just appealed at court due to Art.74 of the Law about the National Bank,[14] however, courts may not suspend resolutions during the investigation of appeals, just by court sentences.
The National Bank of Ukraine is governed by the Head of the National Bank of Ukraine and its directory, while its functions are coordinated by the Council of the National Bank of Ukraine. The council consists of 15 members including the Head of the National Bank as the
Functions
According to the
Due to Art.51 of the law about the National Bank of Ukraine, the NBU is accountable for its activities to the
All registered banks in Ukraine are member of the Deposit Guarantee Funds, which guarantees deposits up to 200.000 UAH per person and bank in case of insolvency. The Oshadnybank is excluded from this fund because Ukraine guarantees their deposits directly.
Banks are divided by the National Bank into four categories depending on their capitals (for intensity of banking supervision).[16] There are a couple of big banks owned through off-shore companies. However, since 2016 all bank owner-structures had to be published till the last physical person to the National Bank of Ukraine to enforce the Anti-money-laundering and -tax-evasion-policy of the NBU.
Governors of the National Bank of Ukraine
The Governor of the National Bank of Ukraine is dismissed and appointed by the Verkhovna Rada (Ukraine's parliament).[17][18] The President of Ukraine nominates a candidate before she/he can obtain a parliamentary approval.[17] The President (also) submits to the Verkhovna Rada the draft resolution on the dismissal of the Governor.[19]
Since the bank's establishment, the following statesmen were the Governors of the National Bank of Ukraine (initially the title of the position was the Chairman of the Board of the National Bank of Ukraine)
No. | Portrait | Name | Took office | Left office |
---|---|---|---|---|
1 | Volodymyr Matvienko | 1991 | 1992 | |
2 | Vadym Hetman | 1992 | 1992 | |
3 | Viktor Yushchenko | 1993 | 2000 | |
4 | Volodymyr Stelmakh | 2000 | 2002 | |
5 | Sergiy Tigipko
|
2002 | 2004 | |
6 | Volodymyr Stelmakh | 2004 | 2010 | |
7 | Serhiy Arbuzov | 2010 | 2012 | |
8 | Ihor Sorkin | 2013 | 2014 | |
9 | Stepan Kubiv | 2014[20][21] | 2014[22] | |
10 | Valeriya Hontareva
|
2014[22][23] | 2017[24] On 11 May 2017 the bank installed deputy governor Yakiv Smoliy as acting governor.[25] | |
11 | Yakiv Smoliy | 2018[26] | 2020[27] On 3 July 2020 First Deputy Governor Kateryna Rozhkova temporarily assumed Smoliy's duties.[28] | |
12 | Kyrylo Shevchenko | 2020[29] | Asked for his resignation on 4 October 2022.[18][30] Dismissed by parliament two days later.[31] | |
13 | Andriy Pyshnyi | 2022[2] | actual |
Commemorative coins
The national Bank of Ukraine offers a broad scale of
See also
- National Bank of Ukraine building
- Ministry of Finance (Ukraine)
- Banking in Ukraine
- List of banks in Ukraine
- List of central banks
References
- ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
- ^ a b "Ukrainian parliament approves new central bank chief". Reuters. 7 October 2022. Retrieved 7 October 2022.
- ^ "NBU Raises Key Policy Rate to 25%". Fin.org.ua.
- ^ "National Bank of Ukraine Official Website. Cost of term deposits". 24 January 2019. Archived from the original on 8 March 2017.
- ^ "The Law of Ukraine on the National Bank of Ukraine". National Bank of Ukraine. Retrieved 17 January 2022.
- ^ "Procedure for Cash Transferring by Banks to Support Armed Forces of Ukraine Simplified", National Bank of Ukraine; 27 February 2022. (Accessed 2022-03-06.)
- ^ "It Is Now Easier to Transfer Funds to Help Armed Forces of Ukraine", National Bank of Ukraine; 27 February 2022. (Accessed 2022-03-06.)
- ^ "NBU Opens Special Account to Raise Funds for Ukraine’s Armed Forces (updated)", National Bank of Ukraine; 01 March 2022. (Accessed 2022-03-06.)
- ^ "Very Easy to Donate Funds to Help Ukrainian Victims", National Bank of Ukraine; 03 March 2022. (Accessed 2022-03-06.)
- ^ "More Than UAH 10 Billion Raised for Army and Humanitarian Aid", National Bank of Ukraine; 05 March 2022. (Accessed 2022-03-06.)
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 4 January 2011. Retrieved 26 January 2011.
{{cite web}}
: CS1 maint: archived copy as title (link) - ^ Reporting 01.04.2016 NBU
- ^ Rada Approves Cancellation Of Rule That Bans Deputies From Switching Factions Archived 2010-10-09 at the Wayback Machine, The Financial (October 8, 2010)
- ^ a b "Archived copy". Archived from the original on 20 September 2016. Retrieved 26 May 2016.
{{cite web}}
: CS1 maint: archived copy as title (link) - ^ Danylyshyn heads NBU Council Archived 2016-10-26 at the Wayback Machine, Interfax-Ukraine (25 October 2016)
- ^ "ipLex - законодавство України". zakon.nau.ua. Archived from the original on 3 November 2013. Retrieved 10 September 2013.
- ^ a b "Ukraine parliament approves Shevchenko as new central bank chief". Reuters. 16 July 2020. Retrieved 16 July 2020.
- ^ a b "Ukraine Central Banker Quits, Adding to War's Economic Turmoil". Bloomberg News. 4 October 2020. Retrieved 5 October 2022.
- ^ "Zelensky submitted to the Council a motion to dismiss Shevchenko from the position of head of the NBU". Ukrainska Pravda (in Ukrainian). 5 October 2020. Retrieved 5 October 2022.
- ^ Ukraine's parliament appoints new central bank chief Archived 2014-02-28 at the Wayback Machine, Reuters (24 February 2014)
- Ukrayinska Pravda(24 February 2014)
- ^ a b Ukraine crisis: EU deal to be signed on 27 June Archived 2014-06-19 at the Wayback Machine, BBC News (19 June 2014)
- AFP news agency(19 June 2014)
- ^ Williams, Matthias; Polityuk, Pavel; Rao, Sujata (10 April 2017). "After praise and death threats, Ukraine's central bank governor quits". Reuters. Archived from the original on 10 April 2017. Retrieved 10 April 2017.
- ^ Williams, Matthias (10 May 2017). "Ukraine central bank post in political limbo as Gontareva leaves". Mobile.reuters.com. Retrieved 11 May 2017.
- ^ "Rada appoints Yakiv Smolii NBU head". En.interfax.com.ua. Retrieved 17 January 2022.
- UNIAN(3 July 2020)
- ^ Rozhkova takes office as acting Governor of NBU, Interfax-Ukraine (3 July 2020)
- UNIAN(16 July 2020
- ^ "Голова Національного банку Кирило Шевченко подав заяву про відставку". bank.gov.ua (in Ukrainian). 4 October 2022.
- ^ "Rada Dismisses NBU Head Shevchenko". Ukrainian News Agency. 6 October 2020. Retrieved 6 October 2022.
- ^ "Banknotes and Coins". Bank.gov.ua. Archived from the original on 6 May 2016. Retrieved 26 May 2016.
- ^ "National Bank of Ukraine issues commemorative coin". Cistran Finance. 21 October 2013. Archived from the original on 29 October 2013. Retrieved 25 October 2013.
Sources
- (in Ukrainian) Про банки і банківську діяльність. Law of Ukraine. March 20, 1991.
- (in Ukrainian) Про банки і банківську діяльність. Law of Ukraine. Accessed on August 17, 2006.
- (in Ukrainian) Про Національний банк України. Law of Ukraine. Accessed on August 17, 2006.
External links
- Official website (in Ukrainian and English)
- Вся правда про фінансову систему СРСР (Ч.4 Перебудова) (All truth about financial system of the USSR (P.4: Perestroika))
- Melnyk, P., Tarahul, L., Hordei, O. Banking system of Russia. Banking systems of foreign countries (handbook). 2010.
- Kostyuchenko, O. Creation and evolution of banking in Ukraine. Banking Law. 2011.