Banks not obliged to return deposits on first demand of client

18.08.2015 р., 14:50

Now commercial banks are not obliged to return deposits on first demand of the client. The corresponding decision was approved by the National Bank of Ukraine, referring to the law which came into force in June, after the vote in Parliament.

The purpose of the law - to balance the interests of banks and their depositors. On the one hand, it is preservation of investor's right for choosing the terms of deposit placement and timing, on the other hand - providing the financial institution with legal instruments to balance their assets and liabilities, by way of regulating mechanism of returning deposits, emphasize in the NBU.