NBU forbade subsidiaries of Russian banks to carry out financial operations in favor of parent structures

НБУ запретил дочкам российских банков проводить финоперации в пользу материнских структур

The national Bank of Ukraine by decision of the Council of national security and defense forbade subsidiaries of Russian banks to carry out financial operations in favor of the parent structures. This is stated in the decision of the regulator.

The Board of the NBU on 21 March adopted the resolution №25 “On making changes to resolution of Board of National Bank of Ukraine as of October 1, 2015 No. 654,” which will impose sanctions on banks, specified in the decision of the Council. Sanctions it is forbidden to carry out any financial operations of these banks in favor of associated persons, in particular, the parent structures.

The national Bank has developed a mechanism for the implementation of sanctions against Sberbank, “Vs Bank”, “Prominvestbank”, “VTB Bank”, “BM Bank”.

It is expected that with the introduction of sanctions prohibited from carrying out any financial transactions the sanctioned banks in favor of associated persons, in particular, the parent structures.

Related news: the NBU did not consider it necessary to expand sanctions “dochek” Russian banks

Including a ban on:

– direct and/or indirect performance of any active operations (loans, deposits, borrowings, including subordinated debt, purchase of securities, placement of funds on correspondent accounts, etc.);

– dividends, interest, return of interbank credits/deposits of funds from correspondent accounts, subordinated debt;

– distribution of profits;

– the allocation of capital.

However, the above sanctions do not relate to the conduct of the sanctioned banks of the calculations, which are initiated by customers of these banks and resulting in the violations of the above prohibitions.

Related news: Sberbank has called national security Council decision on sanctions is politically motivated

At the moment, the sanctioned banks are liquid and have sufficient funds to meet obligations to depositors.

We will remind that on March 16 the President of Ukraine Petro Poroshenko enacted NSDC decision on applying sanctions to the five banks with the Russian capital.

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