The requirements for banks to periodically re-evaluate and evaluate the availability and condition of property received as collateral are reinstated.
The National Bank of Ukraine has decided to renew the requirements for banks to periodically re-evaluate and inspect the collateral. This was reported by the press service of the NBU.
The regulator recalled that this requirement for financial institutions was suspended from the beginning of the introduction of martial law.
According to the decision of the National Bank, from July 1, 2023, the countdown of deadlines for checking the availability and condition of the property received by the bank as collateral has been continued. The regulator promised that the process would be gradual.
The decision of the NBU does not apply to property in territories where hostilities are taking place, in temporarily occupied territories, or if, in the opinion of the bank, the implementation of such an inspection poses a threat to the safety of life and inspectors health.
Starting August 31, the deadlines for the re-evaluation of the collateral of such objects, which are accepted by banks in the calculation of credit risk, will begin, which will ensure consistency in credit risk assessment techniques according to on prudent approaches and IFRS.
The National Bank also expanded the list of active transactions with persons related to the bank, which are not subject to the ban established since the introduction of martial law in Ukraine.
“This list will be supplemented by operations to provide secure guarantees in the domestic market of Ukraine and guarantees based on counter-guarantees of parent banks,” said the NBU.
Recall that earlier the National Bank said from whom they collect data on card payments.
Source: korrespondent
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