Banks are allowed to issue hryvnia loans secured by foreign currency deposits

The national Bank of Ukraine has allowed banks to make loans in UAH secured by foreign currency deposits. Because of the financial crisis this rule temporarily “frozen”.

“Until now, banks were forbidden to issue to customers loans in national currency (including open credit lines and by extending the previously granted loans) if the enforcement were given the property rights on monetary funds in foreign currency placed on accounts in banks. The national Bank decided to allow the issuance of credits in such cases. This, according to the NBU Board, will contribute to the revival of Bank lending”, – stated in the message controller.

Restrictions, effective today, August 30.

Earlier it was reported that the national Bank has removed the “draconian” restrictions on the foreign exchange market.

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