NBU extended the term for repayment of loans by banks
The National Bank of Ukraine has decided to extend the maturities of bank loans.
This is provided by the Resolution of the National Bank dd. September 4, 2014 № 551 "On amendments maturities for bank loans", the official page of the National Bank of Ukraine on Facebook states.
This decision was taken in order to prevent deterioration of Ukrainian banks' liquidity and ensuring timely fulfillment of their obligations to depositors and creditors.
Commenting on the Resolution number 551, the Director of the General Department of Banking Supervision Alla Shulha noted that such move of the regulator towards banks will enable them to temporarily free up funds for current expenditures, which will not only enhance the banks' ability to ensure timely and complete performance of their obligations, but will also prevent unstable situation in the banking system of Ukraine.
"Given the difficult economic situation in Ukraine and significant restrictions on Ukrainian banks' access to internal and external funding, the National Bank moved the terms for repayment of principal debts by banks on loans of the National Bank to maintain liquidity and loans to preserve liquidity from September - November 2014 to December 10, 2014 year" - Shulha said.