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The National Bank of Ukraine has simplified the registration procedure for agreements on granting forex loans to resident borrowers by nonresidents, aiming to streamline the requirements to operations involving raising external financing by residents.
First, the regulator has simplified the registration procedures in case of replacement of a resident creditor with a nonresident creditor under the loan agreement, the NBU reported on its website.
Specifically, the NBU has expanded the list of parties to the loan agreement that are entitled to apply to banks to initiate the respective registration procedures. From now on, registration will be initiated or changes to these agreements will be made upon the request of a resident borrower, nonresident creditor and the authorized bank of the initial creditor.
Read alsoNBU says 37 banks should raise charter capital to $7.4 mln by July 11Second, the regulator has introduced a new automated registration system for agreements on granting forex loans to resident borrowers by nonresidents.
Third, the NBU has repealed a requirement for resident borrowers to submit a certificate indicating the actual loan amount and amounts repaid under the loan agreement. Up until now, resident borrowers were required to submit this certificate to the authorized bank if they deposited the borrowed funds in foreign currency on accounts abroad.
The updates came into effect March 25.