The National Bank of Ukraine from November 28, 2017 annulled its resolution No. 129 on some issues of operation of banks dated February 24, 2015, introducing the relaxation of requirements for banks in the period of shock factor influence: the sharp worsening of the economic situation, the large devaluation of the national currency, events in Crimea and in the east of Ukraine.

"The annulment… is linked to the fact that the negative consequences of this impact have already been identified by the banks and taken into account in their action plans to bring their performance indicators to the regulatory requirements that are being observed," the National Bank said in a press release on Monday.

The NBU said that there are positive changes in the banking sector: the hryvnia rate has stabilized, and the liquidity situation in the banking system has improved.

At the same time, for banks that still lead their performance indicators to regulatory requirements within the framework of their action plans developed pursuant to resolution No. 129, a moratorium on the application of measures for violating these indicators and restrictions on the implementation by certain banks of certain types of banking operations was extended.

The National Bank said that the relevant changes are stipulated in resolution No. 119 on some issues of the activities of banks and the recognition of some regulatory legal acts of the NBU dated November 24, 2017, published on Monday on the central bank's website, effective November 28 until January 1, 2019.

As reported, resolution No. 129 allowed not to apply punishment measures to banks for violation of economic requirements for the minimum size of regulatory capital (N1), regulatory capital adequacy (N2) linked to the revaluation of accounts in foreign currency and banking metals after the devaluation of the hryvnia after February 6, 2015 and the creation of reserves for possible losses under active bank transactions.

The relaxation also concerned the requirements for current liquidity (N5), short-term liquidity (N6), the maximum amount of credit exposure per counteragent (N7), large credit risks (N8), the maximum total amount of credits, guarantees provided to insiders (N10) and the limit for total short open currency position.