banking in ukraine traces its history back to 1918 when on december 22, 1917, the central council of ukraine adopted a law "on transformation of the kiev office of the russian state bank into the ukrainian state bank". the law united all offices of the former state bank, noble land bank, and peasant land bank. at the same time there existed a decree of the central executive committee of ukraine about the nationalization of banks since december 14, 1917. on january 5, 1918, the ukrainian state bank started to issue its own money. on august 10, 1918, there was signed a statute on the ukrainian state bank. on august 23, 1918, there was established the state land bank.