According to the National Bank of Ukraine, commercial banks should begin negotiations with customers on restructuring loans now and not wait until the financial situation of Ukrainians worsens.
The National Bank of Ukraine calls on commercial banks and other financial institutions not to take any steps that would worsen the situation of customers. This was at a briefing on March 17, said the first deputy chairman of the National Bank of Ukraine Yekaterina Rozhkova.
Rozhkova said that the National Bank canceled inspections and stress testing of banks, as well as relaxed some regulatory and regulatory requirements for banks.
“This is exactly the time when you need to demonstrate real partnerships. I’m talking about those customers who have accounts payable to banks. As for the population, the Verkhovna Rada today adopted a law that forbade all financial institutions (not only banks) to calculate fines, penalties and other penalties for individual borrowers who, due to quarantine, will delay [выплаты] on loans. Loans are not canceled, interest on loans must be paid, but if for good reason there is a delay in these payments, banks do not have the right to increase interest on loans, calculate fines, penalties and so on, “she said.
Rozhkova recommended that banks now begin negotiations on the restructuring of loan arrears. “You do not need to wait until the financial condition of customers deteriorates, you need to start this work today. We urge banks not to take any steps that would worsen credit conditions for customers,” said the first deputy head of the NBU.
The hryvnia began to decline on March 10 amid a record drop in world oil prices, as well as panic in the stock markets due to the coronavirus pandemic. During the week, the National Bank sold about $ 981 million at foreign exchange auctions. The total volume of foreign currency sales since the beginning of the year as part of NBU interventions amounted to $ 1.5 billion, while the National Bank sold $ 1.29 billion in two weeks (from March 2 to March 13).
Since the beginning of the year, the official hryvnia to dollar rate has fallen by about 3 UAH. In the cash market, the dollar selling rate is about 29-30 UAH / $.