Foreign currency loans translated into UAH! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

Foreign currency loans translated into UAH! - News about real estate, Kiev, Kyiv region. Real Estate In UkraineThe Ministry of Finance is in favour of giving borrowers the possibility of translation of foreign currency loans...Pinzenyk intends to transfer foreign currency loans in the hryvniaThe Ministry of Finance is in favour of giving borrowers the possibility of translation of foreign currency loans in the hryvnia and the gradual reduction of capital adequacy of banks from 10% to 8%.The relevant proposals contained in the draft Memorandum on joint actions of the National Bank of Ukraine (NBU) and commercial banks and the Ministry of Finance on issues of return of credits to the population and enterprises that have emerged due to the devaluation of the hryvnia."The banks will allow the borrower to fully or partially transfer the liabilities in foreign currency for the payment of the balance or part balance of principal and interest on the loan obligations in national currency recalculation of liabilities at the exchange rate of foreign currency, the hryvnia, which is lower than the current, but not below the rate in force at the time of loan", - the document says.Banks will allow the borrower to fully or partially transfer the liabilities in foreign currency for the payment of the balance or the amount of principal and interest on the loan obligations in national currencyAccording to the draft Memorandum of such transfer is possible if the implementation of the partial prepayment by the borrower (instant) fulfillment of obligations agreed with the Bank amount to pay part of the balance of principal and/or interest on the loan. It is envisaged that the size of the rate on such loans will be at a level close to the rate on the Bank loans in UAH at the date of issuance of the loan that is restructured.The size of the rate on such loans will be at a level close to the rate on the Bank loans in UAH at the date of issuance of the loan that is restructuredIn addition, the Memorandum proposes the provision of Bank borrowers the option to defer the implementation of obligations on payment of loans without exemption from the payment of interest and installment obligations on the loan provided immediate early redemption of the obligations before the Bank."The commercial banks of Ukraine include the amount of loss from such transactions in the specified possible (but not exclusive) forms on the increase in gross expenditure (reducing profit), to reduce the reserves, and in cases of insufficiency of the sources - to reduce the capital", - emphasized in the draft Memorandum.According to the document, the commercial banks are implementing measures to facilitate the return of loans to borrowers prior to 1 April 2009.The draft Memorandum also provides that the NBU, among other things, would expand the list of acceptable collateral to attract loans of refinancing of the national Bank and will reduce the capital adequacy standard. In addition, the draft Memorandum provides that the NBU will provide to the banks certain rights to purchase foreign exchange in the interbank market to recover monetary position.The NBU will expand the list of acceptable collateral to attract loans of refinancing of the national Bank and will reduce the capital adequacy standardThe document also provides that the NBU will simplify the process of accumulation of capital banks.



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