You're reading: Owners of NBU depository certificates will get income for additional day

The National Bank of Ukraine (NBU) from July 15 will charge interest on depository certificates starting from the day of receipt of funds from the bank but not from the next day after they are received as is currently the case.

The central bank by its resolution No. 432 of July 3 made the appropriate changes to the regulation on the NBU’s regulation of the liquidity of Ukrainian banks. The resolution is available to view on the NBU website.

According to the resolution, the last day when interest will be charged is the day which precedes the day of depository certificate repayment.

“Accrual of interest on NBU depository certificates, placed among the banks prior to the entry into force of this decision, is carried out in accordance with the conditions of their placement and NBU regulatory acts being in effect on the day of depository certificate placement,” the regulator said.

As reported, at present rent rates on depository certificates range from 20 percent on overnight instruments to 26-27 percent per annum on 7-30-day instruments.