OREANDA-NEWS. In the first half of 2013, the System of electronic payments (hereinafter the SEP) participants effected 163,762 thousand initial payments and sent the electronic settlement notices totaling UAH 5, 680, 172 million, being more by 2 % in quantity and by 8 % in value, compared with the first half of 2012.

The majority of transactions on the initial payments executed by Ukrainian banks accounted for 93 % of the total number of transactions - 152,236 thousand documents.

In the reporting period, the portion of initial payments in the amount of up to 1000 hryvnias accounted for 65 % of the total number of initial payments. The value of these transactions accounted for only 0.5 % of the total amount of initial payments processed through the SEP over the reporting period.

Given their needs, the SEP participants may determine whether to operate with the independent correspondent account or consolidated correspondent account at their discretion.

Among the SEP participants, the third model for servicing a bank’s consolidated correspondent account appeared in great demand. According to this model, a legal entity has a consolidated correspondent account and the intrabank interbranch payment system, which ensures the execution of funds transfer between the bank branches and the interaction with the SEP to carry out inter-bank funds transfer between the bank branches. In the first half of 2013, the SEP participants operating with this model made 80, 027 thousand initial payments and electronic settlement notices, accounting for 49 % of their total amount.

In the first half of 2013, on average, 1, 365 thousand initial payments and electronic settlement notices worth UAH 47,335 million were processed daily, including:

in the file mode: 1, 361 thousand initial payments and electronic settlement notices worth UAH 35,235 million;

in the real time mode: 4 thousand initial payments and electronic settlement notices worth UAH 12,100 million.

The daily average outstanding balance of funds on the SEP participants’ accounts amounted to UAH 27.8 billion.

The daily average money turnover on the SEP participants’ accounts stood at 1.7.

“The analysis of the statistical data on the SEP operation suggests that during the first half of 2013 the system successfully fulfilled its functions of the national system of interbank settlements, met the system participants’ needs as to funds transfer, provided for maximum rate, transparency, high safety level and reliability of effected payments,” said Ms. Nataliia Syniavska, Director of the NBU General Department of Information Technologies and Payment Systems.

The Law of Ukraine “On the Payment Systems and Funds Transfer in Ukraine” determines the SEP of the National Bank of Ukraine as the national system of interbank settlements.

The SEP provides for interbank settlements within Ukraine per procuration of banks’ customers as well as under commitments of banks and other participants in the system. The SEP carries out interbank funds transfers in the file mode and in the real time mode. Effecting initial payment in the file mode is compulsory, whereas that in the real time mode - at the bank’s option. At the same time, the bank that operates within SEP in the file mode accepts payments in the real time mode.

As of 1 July 2013, 457 institutions were the SEP participants, including:

176 Ukrainian banks;

215 Ukrainian banks’ branches;

28 bodies of the State Treasury Service of Ukraine;

37 institutions of the National Bank of Ukraine;

1 Private Joint-Stock Company “Clearing Center on Servicing of Agreements on Financial Markets”.