RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of April 17, 2020 No. 52

About modification of the Regulations on the organization of process of management of troubled assets in banks of Ukraine

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", to Articles 44, 66 Laws of Ukraine "About banks and banking activity", for the purpose of increase in effective management of banks of Ukraine of troubled assets the Board of the National Bank of Ukraine DECIDES:

1. Bring in the Regulations on the organization of process of management of troubled assets in banks of Ukraine approved by the resolution of Board of the National Bank of Ukraine of July 18, 2019 No. 97, the following changes:

The paragraph the ninth the subitem 7 of item 4 of the Section I to state 1) in the following edition:

"write-offs / partial write-off of the depreciated financial assets at the expense of provisions under the expected credit losses (further - debt write-off) according to the legislation of Ukraine, regulatory legal acts of the National Bank of Ukraine (further - National Bank) and international accounting standards;";

Item 24 of the Section III after subitem 5 to add 2) with new subitem 5-1 of the following content:

"5-1) approves regulations on debt write-off.";

3) in the subitem 1 of Item 43 of the Section IV of the word "key indicators" shall be replaced with words "target indicators of strategy of management of troubled assets in short-term (up to one year) forecast period in quarterly section, key indicators";

To exclude 4) in the subitem 3 of Item 119 of the Section VIII of the word of "the debtor/partner according to the legislation of Ukraine and intra bank documents";

5) in the Section X:

to state the name of the Section in the following edition:

"X. Debt write-off";

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