Ukraine’s National Bank changes demands for deals registration at interbank currency market

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The National Bank of Ukraine (NBU) has changed the requirements to the banks on the confirmation and registration of the deals made at the interbank currency market as
Thanks to the innovations, the demands to confirm the deals by the means of the Deals Confirmation System at the interbank currency market of Ukraine is completely removed. According to new rules, the banks can use vCli or other means such as SWIFT for confirming of the deals made at the interbank market. Moreover, the time of the deal-making will not be restricted by the working hours of the interbank market and the deals can be made at any time.

Talking about the deals’ registration during the purchase or sale of the hryvnia credit resources, the demand to use the means of CredInfo is removed. Now such deals do not demand the registration.
The National Bank specified that the information on the state of the interbank and credit markets received from the removed systems will be replaced by a data received from the channels of the information exchange from Bloomberg and Reuters and bank reports.

According to the National Bank, such steps allow banks to be more flexible in the deal-making and will reduce the load on the informing of the National Bank
. The NBU will be able to receive more update and precise information on the state of the markets.
As we reported the NBU has developed and suggested to discuss the new project of legislation regarding the licensing procedure for Ukrainian banks. 
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