NBU plans to hold first long-term refinancing auction in first half of May – NBU governor

14:37, 23.04.2020 1 min read

The National Bank of Ukraine plans to hold a first long-term refinancing auction in the first half of May, NBU Governor Yakiv Smolii has said.

"We will introduce long-term refinancing loans for up to five years. They will be provided at a floating rate and with the same guarantee as tender loans. Now we are completing the technical preparations for introducing this tool and plan to hold the first long-term refinancing auction in the first half of May," Smolii said during a briefing on Thursday.

According to him, this tool will guarantee sufficient liquidity in the banking system if the mood of financial market players deteriorates.

He also said that the NBU expects that banks will use this tool for more active lending to projects requiring long-term financing, in particular, infrastructure.