This NBU Resolution introduces technical amendments to the procedure for the formation of mandatory reserves by Ukrainian banks. The essence of the changes lies in clarifying the list of funds attracted from resident banks that are not included in the reserve base. In particular, this concerns interbank loans and deposits attracted through a central counterparty in organized capital markets under repo transactions. By doing so, the regulator eliminates legal uncertainty regarding the reserving of funds in complex financial transactions.
The structure of the document is concise and consists of four clauses. The main amendment is made to subparagraph 2 of clause 5 of section I of Regulation No. 806, where the conditions for excluding funds attracted through a central counterparty from the mandatory reserve base are detailed. Compared to the previous version, the provision now directly accounts for the specifics of repo agreements concluded in organized capital markets with the participation of a central counterparty.
The most important provision for banks is the clear definition of the criteria under which funds attracted through repo transactions via a central counterparty are not subject to mandatory reserves. The primary condition is documentary confirmation that these funds were attracted by the central counterparty specifically from another resident bank. This allows banks to optimize the reserve formation process and avoid a double regulatory burden when conducting transactions in organized markets. The Resolution enters into force on August 10, 2026.
