The National Bank of Ukraine (NBU) has included property in the list of acceptable collateral for gaining stabilization credits.
The decision is stipulated in NBU resolution No. 40 of February 15, 2011, which has been posted on the Web site of the Ukrainian parliament. The document has been registered in the Justice Ministry, but it will take effect only after its official publication.
"Property (buildings and facilities) that belong to a bank or an owner of the large stake in the bank and located in Ukraine [is included in the list]. The correlating coefficient for this collateral is 0.7," the resolution says.
As reported, the list of acceptable collateral for gaining stabilization credits includes government bonds, NBU’s debt securities, state-secured bonds of the State Mortgage Institution, guarantees of the Ukrainian cabinet and foreign currency (U.S. dollars, euros, pounds Sterling, Swiss franks and Japanese yen). The coefficient for these types of collaterals is 0.9.
NBU resolution No. 40 also amends the conditions for credit agreements for stabilization credits, taking into account new opportunities for the formation of reserves.
