The National Bank of Ukraine (NBU) plans to change a mechanism for calculating and assigning the requirements of obligatory reservation, First Deputy NBU Governor Oleksandr Pysaruk has said.
“The requirements of obligatory reserves for liabilities in foreign currency and liabilities in hryvnias should be in harmony and they should be narrowed,” he told reporters on Oct. 10.
Pysaruk said that the revised mechanism for calculating the reservation requirements recording of cash in cash desks of banks will change.
“It’s appropriate to include the volumes of cash in cash desks to the calculation of obligatory reserves to a certain extent… If not in full, at least 50% [of the sum of cash at cash desks],” he said.
Pysaruk said that in the conditions of continuous outflow of deposits banks have to store enough cash at cash desks, which complicates the observation of the reservation requirements for them.
He said that the NBU plans to harmonize the reservation requirements for liabilities in hryvnias and foreign currency, making them similar.
“The reservation requirements could differ depending on the term of liabilities,” he said.
“It’s likely that the [requirements for foreign currency and hryvnias] will be the same,” the banker added.
Pysaruk said that one of the punishments for the non-observation of the revised requirements of obligatory reservation will be restriction of access to the NBU’s interventions.
He also said that the central bank will have to relax the calculation of the regulatory capital, but the issue is being discussed.
