Translation:
1. The NBU allowed the purchase and sale of banking metals without physical delivery for jewelry manufacturers who were operating before the war. The possibilities of using funds under credit agreements with non-residents for nuclear facility operators have been expanded, and a new procedure for transferring currency abroad for dividend payments has been established.
2. The Verkhovna Rada approved the report of the Temporary Commission on the use of 37.389 billion UAH for fortification construction. Work completion is over 95%, with construction carried out in 3 stages. Law enforcement agencies are investigating over 80 criminal proceedings regarding possible violations.
3. The Parliament adopted in the first reading draft law No. 9558 on improving transplantation organization. The document has been sent for refinement to the Committee on National Health Issues.
4. Starting from January 1, 2025, a new procedure will be implemented for auditing companies to inform the NBU about violations in financial institutions’ activities. A clear list of information for notifications has been established, with the possibility of submission in both electronic and paper forms.
5. Ukraine will receive a loan from MAP amounting to 4.8 billion US dollars to support government expenditures. The funds will be directed to civil servants’ salaries, pensions, social programs, and medical services. Repayment will occur from 2034 to 2054.
6. A new Regulation on the Central Commission of the State Archival Service has been approved, which will control the availability and condition of documents in the National Archival Fund. The Commission will verify document accounting, their condition, and search for missing materials.
7. The World Bank will provide Ukraine with a grant of 1.35 billion US dollars and 10.8 million euros to support government expenditures. The funds will go to civil servants’ salaries, social payments, and medical services.
8. The Ministry of Finance has canceled 6 orders that regulated the procedure for compiling and controlling financial plans of state-owned enterprises, including the basic order from 2015.
9. A new list of 34 paid services by the State Certification Center for Agricultural Products in the field of seed production and nursery has been approved, including international certification according to OECD and ISTA standards.
10. The Ministry of Education and Science updated the Typical Staff Standards for vocational education institutions, adding new positions: specialist in public procurement, marketer, career guidance specialist, and positions to ensure inclusive education.
Review of each of legal acts published today:
On the Accounting Price of Banking Metals
This is a daily notification from the National Bank of Ukraine establishing accounting prices for banking metals (gold, silver, platinum, and palladium) as of 24.12.2024. The notification structure includes a table with metal codes (numeric and literal), measurement unit (troy ounce), and accounting price in hryvnias for each metal. Prices are set as follows: gold – 109,815.70 UAH, silver – 1,244.25 UAH, platinum – 39,386.72 UAH, palladium – 38,616.60 UAH per troy ounce.
It is important to note that these prices are reference prices, and the NBU does not undertake obligations to conduct buy-sell operations of banking metals at these prices. These indicators are used for accounting, customs, and statistical purposes.
On the Official Exchange Rate of Hryvnia to Foreign Currencies
This is a daily notification from the National Bank of Ukraine establishing the official exchange rate of hryvnia to 35 foreign currencies as of 24.12.2024. The document contains a table with currency rates, where for each currency its numeric and literal code, number of units, full name, and official rate relative to hryvnia are indicated. Among the main currencies: US dollar – 41.9910 UAH, euro – 43.6454 UAH, pound sterling – 52.5853 UAH.
It is important to note that these rates are used for accounting purposes, for NBU operations with the State Treasury Service of Ukraine, and in other cases specified by law. The NBU does not undertake obligations to buy and sell currencies at these rates.
On Amendments to the Resolution of the National Bank of Ukraine Board Dated February 24, 2022, No. 18
The NBU resolution introduces changes to the rules of banking system operation under martial law. The main innovations concern operations with banking metals and currency transactions. Structurally, the document amends three points of the previous resolution No. 18 from 24.02.2022, adding new provisions regarding the purchase and sale of banking metals, use of funds under credit agreements with non-residents, and the procedure for dividend payments abroad. Key innovations:
– Purchase and sale of banking metals without physical delivery is allowed for jewelry manufacturers who operated before the war;
– Possibilities for using funds received under credit agreements with non-residents for nuclear facility operators have been expanded;
– A detailed procedure for transferring currency abroad for dividend payments to non-residents, including cases related to Eurobonds, has been established.
On the Report of the Temporary Special Commission of the Verkhovna Rada of Ukraine on the Use of State Budget Funds Directed to the Arrangement of Fortification Structures and Engineering Barriers on the Contact Line, as well as the Production and Procurement of Unmanned Aerial Vehicles and Electronic Warfare Means for Military Units and Subdivisions of the Armed Forces of Ukraine and Other Military Formations Established in Accordance with the Laws of Ukraine, on the Work PerformedResolution of the Verkhovna Rada Approving the Report of the Temporary Special Commission Investigating the Use of Budget Funds for Fortification Construction and Drone Procurement
The resolution approves the report of the Temporary Special Commission that investigated the use of budget funds for fortification construction and drone procurement. The resolution structurally consists of 6 points and an annex with a detailed commission report. The main provisions include: taking note of the report, forwarding it to the President and other state bodies, requiring information about the report review results within a month, publication in ‘Holos Ukrainy’ and completion of the commission’s work.
Key report findings:
– 37.389 billion UAH allocated for fortification construction
– Work completion exceeds 95% of planned
– Construction carried out in 3 stages
– Identified need to improve legislation on land issues and structure accounting
– Law enforcement investigating over 80 criminal proceedings regarding potential violations
On Adopting the Draft Law on Amendments to Certain Laws of Ukraine Regarding Improvement of Medical Assistance Organization Using Transplantation
The resolution concerns adopting draft law No. 9558 on improving medical assistance organization using transplantation. Structurally, the resolution consists of two points: the first on accepting the draft law in the first reading, the second instructing the relevant Verkhovna Rada Committee to refine the draft law for the second reading, considering proposals and amendments.
The key point is that the draft law was adopted only in the first reading and sent for refinement to the Committee on National Health, Medical Assistance, and Medical Insurance. The Committee must consider legislative initiative proposals and its own conclusions from August 28, 2023, when preparing the draft law for the second reading.
Resolution of the National Bank of Ukraine on Amending Certain Regulatory Legal Acts
NBU Resolution No. 147 dated 12.12.2024 establishes a new procedure for audit companies to inform the NBU about identified violations and issues in financial institutions’ activities. The document takes effect from January 1, 2025.
The provisions consist of 9 points and define: the procedure for reporting legislative violations by financial institutions; cases of significant threat to their activities; presence of modified audit opinion. The main changes relate to terminology clarification and detailing reporting requirements.
Key provisions:
– Clear list of information auditors must include in NBU notifications
– Special reporting requirements for prudential normative and solvency violations for insurers
– Option to submit notifications electronically with qualified electronic signature or in paper form
– Clearly defined moments considered as NBU notification dates
Agreement on Financing (Seventh Additional Financing for the Project “Support of Public Expenditures for Sustainable Public Management in Ukraine”) between Ukraine and the International Development Association
This is an international credit agreement between Ukraine and the International Development Association
