The National Bank of Ukraine (NBU) adopted some amendments, by which it softens the requirements to banks regarding the confirmation and registration of transactions, which they conclude on the interbank market, the regulator’s press office reports.
In particular, the National Bank cancels the regulation on the mandatory confirmation by banks of all transactions on the foreign currency purchase and sale on the interbank currency market of Ukraine through the contract confirmation system on the interbank currency market of Ukraine.
In future, for confirmation of own transactions on the interbank currency market of Ukraine, the banks will be able to use Wakly (voluntarily) as well as any other facilities, acceptable for transaction parties (for example, SWIFT).
In addition, the banks will have the opportunity to conclude transactions on the interbank currency market at any time, but not only during the operation of interbank currency market, as now, the regulator noted.
In addition, NBU cancels the requirements, which obligated the banks to register transaction on the purchase and sale of credit resources in the national currency on the interbank loan market of Ukraine through CredInfo system (System, through which the banks of Ukraine provide information on transaction regarding the purchase and sale of loan resources in the national currency on the interbank loan market). In future, such registration will be granted at all.
It is noted that the information, which was previously received through the currency market and CredInfo, was used by the National Bank for monitoring of the situation on the interbank currency and credit markets.
“In future, the National Bank will receive the respective data through channels for information exchange from trade information Bloomberg and Reuters as well as the statistical reporting of banks”, NBU explained.
The regulator considers that such steps will provide the banks with more flexibility in time for concluding transactions and will reduce load on them in terms of informing the National Bank, and NBU will allow receiving more operative information about the condition of monetary and currency markets.
