Central bank of the Ukraine also NBU (Ukrainian , ) is the central issuing bank of the Ukraine. The central bank of the Ukraine is a legal entity of the Ukrainian right with seat in Kiew, whose unmitterlbarer owner is the State of Ukraine. The central bank of the Ukraine carries out their activity due to the Ukrainian condition (kind 99) and the special law to the national bank of the Ukraine.

Legal situation

The condition of the Ukraine and the law regulate legal status and organization of the central bank of the Ukraine, its field and carrying out of these tasks to the national bank of the Ukraine.

The central bank is a legal entity of the Ukrainian right. Their fortune is an object of the national vested titles and stands in full economic order of the bank. The capital stock of the central bank amounts to 10 millions Hrywnja (approx. 1.6 millions EUR) and is located in the full property of the Ukraine. The capital stock is intended for the safety device of the commitments of the central bank.

The central bank of the Ukraine is the central bank of the state and a higher administrative authority at the same time, which for supervision and adjustment are responsible in the banking of the country. You are entitled the exclusive right to the expenditure of notes.

History

The bank system of the independent Ukraine and concomitantly the central bank of the country originated in to 1991 due to disintegrating the Soviet bank system. Legal basis for it formed of the Werchowna Rada to 20. March 1991 passed banking law of the Ukraine. The law stepped to the 1. May 1991 into force and main header the bank monopoly of the state up. A bank system with two levels developed - for the private business banks and a national central bank with supervision and adjustment functions.

At the same time at that time still Ukrainian CSSR took over the vested titles over the Ukrainian republican one bank of the state bank 9 of the USSR (representative office of the Soviet issuing bank in Kiew) as well as the daughter banks of the three of other state-own credit institutes of the Soviet Union - the industrie and Inverstionsbank of the USSR (Prominvestbank SSSR), the savings bank of the USSR (Sberbank SSSR) and the foreign trade bank of the USSR (Wneschekonombank SSSR).

The Rada ordered also on basis of the Ukrainian republican bank of the state bank 9 of the USSR the central bank of the Ukraine to establish and beautragte the Council of Ministers, the government of the republic, and the bank with the elaboration of the statute and procurement of the capital stock for the central bank of the Ukraine.

The statute of the central bank was approved of of the Werchowna Rada on 7 October 1991 and applies until today.

Tasks

Verfassungsautrag

99. -

Article 99. Monetary unit of the Ukraine is Hrywnja. Safety device of the stability of the monetary unit is the main function of the central bank of the state - the central bank of the Ukraine.

Thus the Ukrainian condition specifies the safety device of the stability of the national currency Hrywnja as major task of the central bank. "§ this task repeats and supplements 6 exp. 1 of the law to the central bank of the Ukraine as main function of the central bank it in "§ 6 exp. 2 with the statement that the central bank is to provide for the fulfilment of its main function for the stability of the bank system and the price level.

Other functions

A detailed catalog of other functions of the central bank of the Ukraine is in "§ to 7 of the law to the central bank of the Ukraine.

Among the most important rank here:

• Conversion of the monetary policy in accordance with of the advice the central bank annually on discharging principles and guidelines of the monetary policy

• Monopoly right at emission of the Ukrainian national currency and organization of their circulation

• Grant of the credits in last instance for the business banks of the country and organization of the refinancing system

• Definition of the rules to the execution of banking transactions, to the accounting of the banks, for the protection of the bank information and the fortune

• Adjustment of the exchange

• State supervision of the banks and - adjustment

• Guidance central bank registers of the country and assignment of the general licences for Bankern and special licenses to the of certain banking transactions

• Certifying the chartered accoutants, liquidators and insolvency managers of the banks

• List, analysis and prognosis of the balance of payments of the country

• Agency of the Ukraine opposite the central banks other countries as well as international financial establishment ions

• Conversion of the rate of exchange politics and adjustment of the foreign exchange market of the country

• Keeping, heightening and administration gold and foreign exchange reserves of the country

Organisational structure

To the committees to the central bank of the Ukraine belong advice of the central bank and executive committee of the central bank, which by the president of the Nationakbank one leads. The bank maintains regional agencies in all of the 24 Ukrainian Oblaste as well as in the autonomous Republic of Krim, the cities Kiew and Sewastopol.

Advice of the central bank

Advice of the central bank is the most important collegial organ of the bank. The advice consists of 14 members, that are appointed ever the half by the president of the Ukraine and the Werchowna Rada on on seven years. President of the central bank, which of the Werchowna Rada on suggestion of the president of the Ukraine one selects, belongs to the advice strength of its office and is considered as a member appointed by the parliament (the Rada appoints thus actually 6 members of the advice and the bank presidents). President of the central bank remains member of the advice he the office of the bank president exercises only so long.

To the member of the advice each Ukrainian state member can be ernannant, who possesses a conclusion or a scientific degree in economics or financial sciences and over sufficient experience in organs of the legislation or the executive or in the leading positions of the bank economy or also at a research and an institute within ranges economics and finances (e.g. Professur at the university) has.

President of the Ukraine and the Werchowna Rada have to express also the right the advice of the central bank the Misstaruen. This happens, is the two obligates their appointments as cancellations and the advice to occupy again. The Wiederrufng does not concern however those members, that exercise their office since their appointment less than 12 months.

The advice postpones itself at least once in the quarter and is resolutionable with 10 present members. The advice chairman selected by the members of the advice for three years leads the meetings. The resolutions are seized with absolute majority of the voices, each member have a voice.

To the most important authority of the advice annual Verabschiedung of the principles and guidelines of the monetary policy for the central bank of the Ukraine belong.

Managed the central bank

President of the central bank

Regional administrations

President of the bank

Seat of the central bank

Articles in category "Central bank of the Ukraine"

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