The National Bank of Ukraine (NBU) has softened the terms of banks' using refinancing loans, providing for the possibility of extending such obligations and exempting banks from paying fines.
The corresponding decision was fixed in NBU resolution No. 655 of October 9, the text of which has been posted on the website of the National Bank.
“If banks appeal regarding the impossibility of the proper fulfillment of obligations to the NBU on refinancing operations and repo, we will extend the terms and change other conditions of using the loans received under the terms determined by the provision on the NBU’s issuing stabilization loans,” reads the document.
However, according to the resolution, if security on such loans is insufficient, the bank must return part of the debt in proportion to the decrease in the value of collateral or recharge it in the appropriate size.
According to the decree, the NBU took such a step, in particular, in order to maintain the stability of the banking system and facilitate the timely implementation of commitments by the banks to their depositors.
