The national Bank of Ukraine (NBU) has allowed banks and non-Bank financial institutions to implement on the basis of individual license of the national Bank of the purchase and transfer of foreign currency for placement outside of Ukraine of the security Deposit in the accounts of international payment systems.

As reported on the NBU’s web site, according to its decision of 10 October 2017 No. 101, which shall come into force on 12 October, also clarifies the application of the exceptions on the prohibition of early repayment of credits, loans in foreign currency received by residents from non-residents. In particular, under such exceptions are subject to all kinds of payments on certain credit agreement s or loan agreements, that is, the payments on the principal sum including interest and other payments stipulated in the agreement.

“These changes will help to ensure proper conditions for the participation of non-Bank financial institutions in international payment systems and the further development of economic relations in Ukraine. At the same time, they will not lead to additional pressure on the foreign exchange market”, – stated in the message.

Previously, the transfer of funds for placement of a security Deposit to ensure that transactions were only banking institutions-participants of the international payment systems.