The idea of creating a national bank that would serve as the main emission and central banking institution on the territory of Ukraine arose at the time of the existence of the Ukrainian People's Republic and was implemented during the Hetmanate. After the defeat of the national liberation movement on the territory of Ukraine, when it became a part of the USSR, for some time there were no banking institutions. However, at the end of 1921, the State Bank of the RSFSR was created, later renamed to the State Bank of the USSR. The National Bank of Ukraine with the status of the central issuing bank of the state was created on the basis of the Ukrainian Republican Office of the State Bank of the USSR.
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