National Bank of Ukraine BOARD

Resolution №328

October 16, 2008

On Amendments to the Resolution of

The National Bank of Ukraine Board

№319 of October 11, 2008

Taking into account the practice of implementation of Resolution of the National Bank of Ukraine Board No 319 of October 11, 2008, "On Additional Measures concerning Banking Activities" and governed by Articles 7, 15, and 55 of the Law of Ukraine "On the National Bank of Ukraine" and Articles 66, 67 of the Law of Ukraine "On Banks and Banking", the National Bank of Ukraine Board

has resolved:

1. To amend Resolution of the National Bank of Ukraine Board No 319 of October 11, 2008, "On Additional Measures concerning Banking Activities" as follows:

1.1. The following new indent shall be added to paragraph 1.1:

"In case of reduction of the bank term deposit volumes by 2% within the period of five business days, the bank may apply to the National Bank of Ukraine for immediate liquidity reinforcement in an amount up to 60% of the authorized capital of the bank for a period of up to one year with 15% charge, simultaneously submitting the duly executed agreement of pledging the shares/stocks of the qualifying holding owners, under which the National Bank of Ukraine is the beneficiary (holder of pledge)."

1.2. In paragraph 2:

Paragraph 2.1 shall be rewritten as follows:

"2.1. may grant a loan in foreign currency to counterparties with no foreign currency income within the volume of their indebtedness on this date.

Banks may grant all other loans according to the set procedure, provided they have enough resources available";

Paragraph 2.2 shall be eliminated.

In the view of the above changes, paragraphs 2.3 – 2.6 shall be considered as paragraphs 2.2 – 2.5.

Paragraph 2.3 shall be rewritten as follows:

"2.3. accept payment orders for money transfer to be executed within the account balance as of the date when the order is received according to paragraphs 8.1, 8.4 of the law of Ukraine "On Payment Systems and Money Transfer in Ukraine" and transfer the money to the recipient:

within one branch/subsidiary – at the day of receipt of the payment document submitted within the operational time of the bank;

within one bank – up to two operational days;

interbank transfer – up to three operational days".

1.3 In paragraph 4:

In subparagraph 4.1:

the word "exclusively" shall be eliminated;

the following new indent shall be added to the paragraph:

"This procedure does not cover the operations effected for performance of import agreements";

in paragraph 4.4  words "or advanced payments (except for payment for critical import)" shall be eliminated.

2. The Resolution comes into effect from the date of its signing.

Governor                                                                                                   V.S. Stelmakh