In order to ensure that Public Joint-Stock Company Commercial Bank PrivatBank (hereinafter – PRIVATBANK PJSCCB) meets its obligations to individual depositors on time, the National Bank of Ukraine has adopted a decision (NBU Board Resolution No 176/БТ, dated March 12, 2015) to provide liquidity support and disburse the next UAH 1,215 million tranche of a stabilization loan with a maturity of two years.
The aircraft and a guarantee issued by the holder of a qualifying holding in PRIVATBANK PJSCCB have been pledged as collateral against the refinancing loan from the National Bank of Ukraine. The collateral appraisal has been carried out by one of the leading international audit companies that meet the criteria set forth in the NBU regulations.
Disbursement of the refinancing loan is conditional on PRIVATBANK PJSCCB using this loan solely to meet its obligations to individuals.
When adopting this decision, the regulator acted on the premises that PRIVATBANK PJSCCB accounts for 26% of all household deposits and 15% of all the assets within the banking system. Furthermore, this financial institution is the largest bank in Ukraine that has the status of a specialized savings bank, with household deposits accounting for over 50% of the bank's liabilities.