ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
This intervention of the National Bank of Ukraine is formulated with regard to a bank' "net FX purchases/position", defined as the difference between currency amount sold and bought.
Previously, the amount of foreign currency and investment metals purchased in national currency, hryvnias, could not exceed the amounts sold by more than 0.1% of the bank’s regulatory capital (USD equivalent).
In the future, banks will be allowed to increase their net FX purchases up to 0.5% of their regulatory capital. This intervention of the National Bank of Ukraine increases banks' flexibility to manage their FX positions, and respectively the important for their activity liquidity. This change permits greater holdings of foreign currency that may facilitate the import and export of goods.
Resolution No. 7 enters into force on 9 February 2017.
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