The procedure for issuing bank certificates of deposit and their circulation has started working

The NSSMC informs that on September 3, 2021, the Regulation on the Procedure for Issuing Deposit Certificates of Bank and their Circulation came into force.

The issuer of the  deposit certificates of a bank may be only the bank that meets the requirements of the National Bank of Ukraine approved by the NSSMC regarding the bank’s right to issue deposit certificates of a bank (if such requirements are established).

The statutory act prescribes the sequence of actions of the issuer regarding the issuance of deposit certificates of a bank, registration of information on issued deposit certificates of a bank, their placement among investors (first owners), registration of the issue of bank  certificates by the Central Securities Depository, increasing the number of bank certificates of deposit issuance, cancellation of registration of the issue and cancellation of deposit certificates of a bank.

The Regulation was developed in accordance with the Law of Ukraine On State Regulation of Capital Markets and Organized Commodity Markets, in order to bring the NSSMC’s statutory acts in accordance with the Law of Ukraine of 19.06.2020 №738-IX On Amendments to Certain Legislative Acts of Ukraine on Simplification of Investment Attraction and Introduction of New Financial Instruments.

The document was approved by the Resolution of the NSSMC dated 23.06.2021 №415, registered by the Ministry of Justice of Ukraine on 19.08.2021 №1095/36717.

Additional information:

In accordance with Article 27 of the Law of Ukraine On Capital Markets and Organized Commodity Markets, the concept of “deposit certificate of a bank” is defined and it is established that the procedure for issuing, accounting, redemption, payment of interest income, as well as the procedure for monetary settlement of transactions on deposit certificates of a bank are determined by the NSSMC.