NBU refused to peg the cost of the Guarantee Fund loan to inflation

9 October 2014 10:29  781202 082113
NBU refused to peg the cost of the Guarantee Fund loan to inflation

The National Bank refused to peg the interest rate on the loan of the Deposit Guarantee Fund to inflation.

The corresponding changes have been fixed in accordance with the NBU Resolution dd. October 8 №643.

"The interest rate on the loan of the Fund shall be equal to the discount rate of the National Bank and shall not be altered within the loan agreement term" - the document states.

Before that, the National Bank could have provided loans of the Fund at a price based on the level of inflation, but not below the NBU discount rate and the interest rate could have been changed during the loan agreement term.

In addition, in accordance with this Resolution of the NBU, restrictions on the maturity of loans of the Fund have been lifted: previously, the Fund could have attracted only short-term loans of the NBU.

Interfax-Ukraine

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