Resolution of the NBU Amends Rules for Banking System Operation under Martial Law
The National Bank of Ukraine (NBU) resolution introduces changes to the banking system’s operational rules during martial law. The main changes concern currency transactions, specifically the conditions for import payments and dividend payments to non-residents. The document supplements the existing Resolution No. 18 dated 24.02.2022 with new provisions regarding:
– Procedure for making payments under import contracts involving foreign export credit agencies
– Conditions for dividend payments to non-residents
– Restrictions on using currency loans to purchase securities
Key innovations:
– Payments to foreign export credit agencies are allowed within 10% of the overdue debt amount per month
– Additional requirements for dividend payments to non-residents are established:
* Minimum issuer operating period: 12 months
* Minimum non-resident corporate rights ownership period: 6 months
– Use of currency loans for purchasing currency securities is prohibited
