The NBU is going to improve monetary instruments
The bank-regulator is planning to amend the procedure for formation of a required reserve by banks, according to the information posted on the Facebook page of the NBU.
“We are intending to upgrade our monetary instruments. Actually, the aggregate reserves will remain unchanged, but certain adjustment of the required reserve rates will take place. We strive to unify the required reserve ratio for deposits placed by legal and natural persons in hryvnia and foreign currencies. As regards term deposits (fixed-date), the rate will be 3%, while for current or card accounts – 6.5%. Moreover, 50% of cash reserves of a bank will be kept as vault cash on hand “, – noted Chair of the National Bank of Ukraine Valeria Gontariova.
She announced that the regulator will strictly supervise adherence of the banks to the norms setting out formation of required reserves and undertake the stringent measures to the violators.
The penalties for breach of legislative norms will not be applied only to those banks that will be considered financially troubled.
