The National Bank of Ukraine has streamlined measures related to the repeal of the requirement obliging banks to keep the mandatory reserves on a special account with the National Bank of Ukraine, which are envisaged by NBU Board Resolution No. 480, dated August 8, 2014.
The National Bank of Ukraine has not lifted the requirement to keep the mandatory reserves on a special account for a special category of banks. The move is aimed at setting aside additional funds to provide liquidity and solvency support to those banks that are closely supervised and overseen by the National Bank of Ukraine.
This requirement is applied to the banks that have fallen within the category of troubled financial institutions, as well as banks having debts on loans granted by the National Bank of Ukraine that have been placed under special supervision through the appointment of bank supervisor.
The above-mentioned measures are envisaged by NBU Board Resolution No. 500, dated August 18, 2014, “On Amendments to NBU Board Resolution No. 371, dated September 19, 2013” (as amended).