The National Bank of
Ukraine is the central bank of Ukraine. Legal status, principles of
organization and activities of the National Bank of Ukraine are determined by
the Constitution of Ukraine and the Law of Ukraine "On the National Bank
of Ukraine".
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 10 million and is the
state-owned property which is in the full economic competence of the National Bank.
Name In office
Volodymyr Matvienko 1991 -
1992
Vadym Hetman 1992
Viktor Yushchenko 1993 - 1999
Volodymyr
Stelmakh 2000 - 2002
Sergiy Tigipko
2002 - 2004
Volodymyr Stelmakh 2004 – 2010
Sergiy
Arbuzov 2010 – present
According to the
Constitution of Ukraine, the main function of the National Bank is to ensure
stability of Ukraine's monetary unit - the hryvnia. To carry out its major
function, the National Bank fosters the stability of the banking system and
within its competence, the price stability.
The National Bank of
Ukraine also carries out the following functions:
·
to determine and pursue the monetary
policy;
·
to issue the national currency of
Ukraine on a monopoly basis and to organize its circulation;
·
to act as the lender of last resort
for banks and to organize the refinancing system;
·
to establish the rules of conducting
banking transactions, accounting and reporting, protection of the information,
funds and property for the banks;
·
to determine the system, procedure and
modes of payments, including those between banks;
·
to determine the areas of the
development of modern electronic banking technologies, to establish, co-ordinate
and control the creation of electronic means of payment, payment system,
banking automation and the banking information protection facilities;
·
to keep the official Register of
identification numbers of issuers of payment cards of domestic payment systems;
·
to exercise the inspection
certification of auditors for conducting audit of banks, temporary
administrators and liquidators of a bank;
·
to compile, analyze and forecast the
balance of payments;
·
to represent Ukraine's interests in
central banks of other states, international banks and other crediting
institutions, where the cooperation takes place at the level of central banks;
·
to exercise the currency regulation
with the competence to be defined by a special law, to determine the procedure
of effective payments in the foreign currency, to organize and exercise the
currency control over the commercial banks and other credit institutions which
are in possession of a National Bank's license for the transactions with
currency values;
·
to ensure the accumulation and custody
of the gold and currency reserves and the conduction of transactions with them
and the banking metals;
·
to analyze the status of the monetary,
crediting, financial, pricing and currency relations;
·
to organize the collection and transportation
of bank notes, coins and other values; to grant licenses for collection and
transportation of bank notes, coins and other values;
·
to take part in the training of
personnel for Ukraine’s banking system;
to exercise other functions in the monetary and crediting sphere within
its competence defined by the law.
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