The National Bank of Ukraine (NBU) has facilitated the rules for registering agreements on taking credits or loans in foreign currency from nonresidents by residents, the central bank has reported on its website.

The decision is outlined in NBU resolution No. 26 dated March 23, 2017.

The NBU in particular relaxed registration rules if the creditor is changed from resident into nonresident. The regulator expanded the list of participants of these agreements who have the right to apply to the central bank to initiate the relevant registration.

"Henceforth, the registration or amending the agreement can be settled with the application from both resident borrowers and nonresident creditors, if the nonresident creditors are replaced by other nonresident creditors, and the authorized banks, if the creditors (authorized banks) are replaced by new nonresident creditors," the NBU said.

Earlier only borrowers have the right to initiate the registration and amendments to the agreements.

The NBU decision envisages the introduction of the automated agreement registration system. With the introduction of the system the list of grounds for annulling the registration will be relaxed: now the NBU would not annul the registration of agreements if there are not enough statistics information about the transactions under the agreement in the period of 90 days.

The NBU also annulled the requirement to obligatorily submit a certificate on the volumes of the loan and the state of its repayment by resident borrowers.

The amendments will take effect from April 10, 2017. The resolution took effect on March 25, 2017.