How the NBU is preparing for the functioning of banks in a blackout

The National Bank of Ukraine (NBU), together with the government, is developing and implementing an innovative plan aimed at ensuring the continuous functioning of the banking system and maintaining the stability of money circulation in Ukraine, even in the event of a prolonged power outage or loss of communication due to Russian attacks.

According to an interview with NBU Governor Andriy Pyshnyi published on the bank's website, this plan, called POWER BANKING, is a system of solutions and protocols aimed at ensuring the continuous operation of banks on two levels. The first level concerns the NBU's continuous operation, and the second level concerns cooperation between the NBU and the banking system in the event of a power outage or lack of communication.

The POWER BANKING protocol, as a national network, becomes available to all customers upon activation, regardless of their bank. Power Banking branches equipped with autonomous sources of electricity and communication allow customers to make cash transactions, payments, transfers and currency exchange even during power outages.

NBU Governor Pyshny emphasized that after the activation of POWER BANKING, at least 35% of the network of branches of systemically important banks should be able to operate in conditions of prolonged blackouts or lack of communication. Currently, there are more than 2,360 such branches, which is more than 50% of the total number of bank branches, and they have already been marked accordingly.

Additionally, the banking sector has resilience points that were launched last year and provide basic needs of citizens in case of power and heating outages. This approach demonstrates the NBU's systematic and balanced approach to ensuring the resilience of the country's financial infrastructure in the face of energy challenges and cyber threats.