RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of March 31, 2014 No. 182

About reduction of limits of open foreign exchange position of bank system of Ukraine to international standards

According to articles 7 and 44  of the Law of Ukraine "About the National Bank of Ukraine" and based on Regulations on procedure for the establishment of limits of open foreign exchange position by the National Bank of Ukraine and control of their observance by authorized banks approved by the resolution of Board of the National Bank of Ukraine of August 12, 2005 No. 290, registered in the Ministry of Justice of Ukraine on August 29, 2005 for No. 946/11226 (with changes), the Board of the National Bank of Ukraine decides:

1. Enter step-by-step inclusion in calculation of common (long/short) open foreign exchange position of authorized banks of the reserves created for compensation of possible losses on active banking activities in foreign currency (further - reserves), according to the schedule which is given in appendix to this resolution.

Authorized banks can include for calculation of common (long/short) open foreign exchange position reserves in the amount of, exceeding specified in graphics of percent, but no more than the size of the bonds of internal state loans which are available in portfolio of bank with indexed cost.

2. Approve the Calculation procedure authorized banks of limits of open foreign exchange position which is applied.

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