NBU provides refinancing to five banks

NBU provides refinancing to five banks

Ukrinform
The National Bank of Ukraine (NBU) provided a total of UAH 750 million in refinancing to five banks, the central bank’s press service reported.

“On June 25, 2021, a quantitative tender was held for the refinancing of banks for a term of 84 days. The applications of five banks for a total sum of UAH 750.0 million at an interest rate of 7.50% per annum were satisfied,” reads the report.

As Ukrinform reported, the National Bank is gradually curtailing emergency measures to support banks: long-term refinancing and interest rate swap operations. Thus, from July 1, 2021, the terms for long-term refinancing loans will be reduced from five to three years. The volume of auctions will be also limited: from July - up to UAH 5 billion, from August - up to UAH 4 billion, from September - up to UAH 3 billion.

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