17:32 12.12.2019

NBU from March 2020 to ease requirement for reserves in hryvnias to zero, toughen in currency to 10% – NBU governor

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NBU from March 2020 to ease requirement for reserves in hryvnias to zero, toughen in currency to 10% – NBU governor

The National Bank of Ukraine (NBU) has decided to introduce a differentiation of requirements for mandatory reserves depending on the currency: for reserves in the hryvnia this ratio will be reduced to zero, and for reserves in foreign currency it will be raised to 10%, Governor of the National Bank Yakiv Smolii has said.

"This will help reduce the dollarization of bank deposits and will make it possible to cheapen hryvnia credit resources for the population and businesses," he said at a briefing in Kyiv.

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