17:40 23.08.2017

NBU lifts restrictions on issue of forex cash and banking metals from current and deposit accounts

NBU lifts restrictions on issue of forex cash and banking metals from current and deposit accounts

The National Bank of Ukraine (NBU) has lifted restrictions on the issuance of cash in foreign currency and banking metals from current and deposit accounts through cash desks and ATMs, the NBU reported on the website.

"Individuals will be able to receive cash in foreign currency or banking metals from current and deposit accounts through cash desks and ATMs without any restrictions on the amount," the report said.

The restriction had been valid since September last year, according to which one client could receive no more than UAH 250,000 in equivalent per day.

According to the report, at present the NBU considers it possible to completely remove such a restriction, given the significant improvement in the liquidity of the banking system in foreign currency and the stabilization of the foreign exchange market. Such a decision should help restore depositors' confidence in banks, the regulator said.

In addition, the NBU will liberalize the approach to savings (deposit) certificates by removing the ban on their issuance, which has been in effect so far, and abolishing the demand to repay them only by transferring funds to the account of the certificate holder. In addition, the requirement for a minimum period of placement, which should be at least six months, is removed for deposit certificates in foreign currency.

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