Given the difficult economic and political situation in Ukraine, the armed conflict and active combat operations in some regions of the country, with a view to preventing the deterioration in liquidity conditions in Ukraine's banking sector, instability in the banking system as a whole, and in an effort to meet the macroeconomic targets under the IMF's EFF (Extended Fund Facility) arrangement, on April 14, 2015, the National Bank of Ukraine approved Resolution No 249 On Measures to be Taken by Ukreximbank JSC in Order to Ensure Execution of Deeds in Respect of Amendments to the Terms of Foreign Borrowings.
By virtue of this Resolution, the National Bank has obliged Ukreximbank JSC to take action to modify the terms of foreign borrowings according to the list approved by Ordinance of the Cabinet of Ministers of Ukraine No. 318-р dated April 4, 2015. The amendments to the terms of foreign borrowings of Ukreximbank JSC are intended to ensure the stability of financial position, solvency and further compliance of the Bank with prudential ratios, limits of open foreign exchange position and provisioning requirements established by the National Bank of Ukraine, should contribute to maintaining liquidity, and ensure the Bank’s ability to timely fulfill obligations to depositors as well as uninterrupted settlements.