19:09 24.05.2018

NBU allows additional capitalization of sanctioned Ukrainian banks by their parent structures

1 min read
NBU allows additional capitalization of sanctioned Ukrainian banks by their parent structures

The National Bank of Ukraine (NBU) has permitted the additional capitalization of sanctioned Ukrainian banks by their parent structures registered in accordance with the legislation of a foreign country.

According to the NBU's website, these changes were approved by NBU resolution No. 55 of May 24, which amended central bank resolution No. 654 dated October 1, 2015. The decision comes into force on May 25.

Permission for the additional capitalization of sanctioned Ukrainian banks by their parent structures will make it possible to avoid recognizing Ukrainian subsidiary banks, being under sanctions, insolvent due to capital insufficiency.

The NBU also extended the mechanism for implementing the sanctions applied by the NSDC by banks, non-banking institutions, the national postal operator, and payment organizations.

Thus, the NBU brought its requirements in accordance with the decision of the National Security and Defense Council (NSDC) of May 2, 2018 on the application and cancellation of personal special economic and other restrictive measures (sanctions), enacted by the decree of the president of Ukraine on May 14, 2018.

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