NBU has limited the issuance of foreign currency loans

29 August 2014 10:18  1777803 078707
NBU has limited the issuance of foreign currency loans

The National Bank of Ukraine has obliged banks to issue foreign currency loans to legal entities, entrepreneurs and permanent offices of non-residents only to pay their foreign liabilities.

This is stated in the Decree of the NBU dd. August 28 №534, obtained by the UNIAN, which shall enter into force after its official publication and is to be published on August 29.

"Authorized banks shall not provide foreign currency loans to legal entities, individual entrepreneurs and permanent offices of non-resident legal entities for the use of foreign currency in the domestic market of Ukraine", - the decree states.

As noted, the authorized banks shall provide foreign currency loans to clients only to pay their foreign liabilities.

The National Bank stresses that if they find any cases of foreign currency lending against clients' domestic liabilities, the regulator will impose harsh sanctions on banks, up to revocation of the general license for currency transactions.

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