The National Bank of Ukraine (NBU) has extended its emergency measures for seven months as regards the special conditions for imposing corrective measures on banks and authorized persons of banking groups.
This decision is associated with the extension of the quarantine and restrictive measures.
The NBU will refrain from applying corrective measures to banks and banking groups until 31 December 2021 for their failure to comply with the established requirements for capital adequacy, liquidity, credit risk, and restrictions on transactions between the bank and the persons related to subordinated debt investors.
The decision will be applicable if violations occurred due to a negative impact of the quarantine and restrictive measures on a bank’s operation indicators or its borrowers and if banks abiding by the NBU’s recommendations refrained from distributing dividends in 2019 and 2020, and complied with set operational restrictions.
Respective amendments were approved by NBU Board Resolution No. 40 On Amendments to Resolution of the Board of the National Bank of Ukraine No. 73 dated 4 October 2020 dated 18 May 2021, which come into effect on 20 May 2021.