Law of Ukraine on legal regime of martial law

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Law of Ukraine on legal regime of martial law

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29 November 2018

The banking system operates in a regular mode despite of Marshall law acceptance. This was announced by Yakiv Smolii, National Bank of Ukraine Governor at an emergency meeting with the TOP-40 banks heads. All the participants agreed that the banking system is stable and can operate in a regular mode.

According to his words, NBU does not see any reasons for the Ukrainian banking system regular mode changes or administrative restrictions in the monetary and foreign exchange markets.

Today the banking system of Ukraine is resistant to external and internal challenges since the banks’ liquidity is at a quite high level (about UAH75 billion). At the same time NBU confirmed its readiness to control and "smooth out" the situation on the foreign exchange market. Besides, the regulator announced that banks could still use liquidity support standard tools.

Banks will also take appropriate measures if necessary to provide smooth operations and services to their clients during a martial law that is implemented in 10 regions. In particular, strong attention is to be paid to reinforcing cash desks and cash machines, timely deposits return, own liquidity strengthening.

According to the Chairman of the Management Board Piraeus Bank Sergii Naumov, Piraeus Bank will make its best to provide the stable operating of the branch network and electronic services in order to execute in time all the payments of individuals and legal entities and fulfill all his obligations.

As of November 26, 2018, the instant liquidity ratio of Piraeus Bank exceeded 70%, that is almost 4 times more than the minimum regulatory level set by NBU. Piraeus Bank current liquidity amounted to 86% , which is more than twice exceeds NBU requirement (40%). The Bank short-term liquidity exceeds the required level by 1,6 times and was equal to 98%. As Sergii Naumov noted such a significant liquidity reserve will allow Piraeus Bank to fulfil all his obligations to the clientele. Therefore, Piraeus Bank customers can feel calm and conduct their business in the usual way, Mr. Naumov said.

Law of Ukraine on legal regime of martial law

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