Reserve requirements on foreign currency deposits tightened
The National Bank of Ukraine has decided to change reserve requirements for creation of the mandatory reserves, as stated in the Resolution of the NBU effective 1 July 2013.
In particular, the document provides for the following changes:
- on legal and natural persons’ short-term funds and deposits in foreign currency – increased by 1 p.p. up to 10;
- on legal and natural persons’ long-term deposits in foreign currency – increased by 2 p.p. to 5;
- on funds of deposits of natural persons in foreign currency on demand and current accounts - increased by 5 p.p. to 15;
- on funds attracted by banks from foreign banks and non-resident financial institutions in foreign currency (other than Russian rubles), increased by 2 percentage points to 5.
For funds in national currency and funds attracted from non-residents in RUR the norm remains at 0.
The document also lowers requirements to mandatory reserves of banks on a separate National Bank account by 10 p.p. - to 40%.
