National Bank of Ukraine has forbidden replace creditors or debtors in the loan agreements with Non-residents

August 20 NBU Board adopted a resolution №551, which amended the decree №354 on June 3, 2015 №354.

This document is forbidden to register changes to agreements on attraction of credits / loans in foreign currency from non-residents if these changes involve replacement of creditor or debtor.

The ban does not apply to cases where the resident borrower is authorized banks, as well as contracts concluded by residents from international financial organizations.

Also under the ban  falls registration of credit agreements in foreign currency between residents in the event of assignment contracts for these new non-resident lender.

As explained by the Director of the open market NBU Sergey Ponomarenko, this step will, in particular, to prevent the transfer of domestic debt on loans to residents outside.

The resolution came into force on 22 August 2015.

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