Given the current macroeconomic situation, the National Bank of Ukraine pushes ahead with liberalization of FX regulation and controls by easingrestrictions that have become inefficient.
Thus, the NBU has simplified the terms and procedure for some transactions involving the purchase and transfer of foreign currency:
● First, the regulator has simplified the rules governing the purchase and transfer of foreign currency under transactions in domestic government bonds carried out by foreign investors. In addition, the NBU has set out the rules for carrying out transactions in domestic government bonds received by foreign investors through the conversion of depository receipts into domestic government bonds by the foreign bank.
● Second, in cases when settlements under foreign investment operations and the subsequent return of foreign investment are carried out through one bank, a customer is allowed to submit a simplified package of documents, which shall be the basis for these operations;
● Third, the regulator has set out the rules governing the purchase of foreign currency for the purpose of fulfilling liabilities in foreign currency by resident guarantor (surety) under the loan agreements signed with authorized banks.
These steps will cause no destabilization impact on the FX market, while making it easier to perform operations involving export/import of capital and improving the regulatory framework of the NBU.
The amendments to this effect have been approved by NBU Board Resolution No. 65 of 18 July 2017 On Amendments to the Regulation On Procedure and Conditions of Foreign Exchange Trading, which shall come into force from 20 July 2017.
No comments:
Post a Comment