The National Bank of Ukraine (NBU) has allowed banks to provide loans in domestic currency against the collateral of foreign currency on customers’ accounts.
This has been reported by the press service of the central bank.
“As part of further relaxations of anti-recessionary foreign exchange restrictions, the National Bank of Ukraine has allowed banks to provide loans in domestic currency against the collateral of foreign exchange holdings held in customers’ accounts,” reads a report posted on the NBU website.
Previously, banks were prohibited from issuing loans in domestic currency to the clients (including under the opened credit lines and through rollover of previously extended loans), if the property rights for the foreign currency held in the accounts with the banks were pledged as collateral for such loans, the NBU said. (Ukrinform/Business World Magazine)
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