The National Bank and the government are implementing a plan to support the operation of banks and ensure payments and money circulation even in the event of a prolonged power outage or loss of communications as a result of Russian attacks.
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The head of the National Bank of Ukraine, Andriy Pyshny, said this in an interview with The Banker, the text of which was published on the NBU website.
According to Pyshny, the corresponding plan is called POWER BANKING and is a cascade system of solutions and protocols that allows the NBU to seamlessly interact with the banking system even in the event of a large-scale attack.
He noted that POWER BANKING consists of several levels:
- the first level is the NBU and the central bank’s protocol system, which allows it to operate and perform its functions under any conditions. In case of complete or partial loss of communication, lack of transport, stable communication with personnel, a system of notifications, personnel transportation, and messaging will start working;
- the second level is cooperation and interaction between the NBU and the banking system to ensure its functioning in conditions of a total power outage or lack of communication.
It is noted that after the activation of POWER BANKING, by decision of the NBU, at least 35% of the network of branches of systemically important banks in Ukraine should be able to work under conditions of prolonged blackout or lack of communication.
Currently, the POWER BANKING network includes more than 2,360 bank branches, which is more than 50% of their number. They are equipped with autonomous sources of electricity and communications and are marked accordingly.
There is a map and information, as well as interaction with local authorities,” Pyshny noted.
In addition, the banking sector operates in terms of “points of invincibility”.
After activating the POWER BANKING protocol, it does not matter which bank you are a client of,” Pyshny noted, “you become a client of the entire network of POWER BANKING branches. This is a nationwide network.
Source: Racurs
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