Banking anti-crisis measures 


The measures include:

  • Enabling the NBU to lend banks up to 60% of their regulatory capital and 90% of the value of their collateral for up to a year at an annual interest rate of at least 15%
  • Allowing Ukrainian banks to make foreign currency loans to borrowers with no foreign currency income, within the limits of their indebtedness under such loans as at 13 October 2008
  • Allowing Ukrainian banks to provide any other loans (including in UAH) as prescribed by law without restrictions, if they have the requisite amount of foreign currency available to them. This does not prevent non-residents from granting loans to Ukrainian borrowers
  • Treating as an infringement of currency regulations and controls any purchase or exchange of foreign currency which is not accompanied by a corresponding transfer of goods into Ukraine from abroad, where it is done to accelerate the discharge of obligations to a non-resident under a loan agreement and/or for the import of any goods, works, services or intellectual property rights. This also prevents the early repayment of loans unless the borrower can do so from existing holdings of foreign currency without having to purchase any more
  • Individual residents and non-residents (that is, natural persons) can only transfer foreign currency abroad up to an equivalent of UAH 15,000 per month abroad without supporting documentation (such as a court decision, contract, purchase invoice, etc.) or up to an equivalent of UAH75,000 with supporting documentation

There are exemptions from the foregoing limitations on the transfer of foreign currency abroad for:

- payments for medical expenses incurred in another country and travel expenses incurred for medical services abroad

- payments connected with the death of individuals abroad (expenses for transportation and burial)

- money transfers that are made according to the decision of the judicial or other law enforcement authorities

- money transfers made in connection with permanent departure from Ukraine.

Law: NBU Resolution No. 319 (11 October 2008); No. 328 (16 October 2008); No. 340 (29 October 2008)