The National Bank of Ukraine (NBU) has included the guarantees of the Ukrainian cabinet on a list of acceptable collateral for refinancing credits issued to state banks, according to a posting on the central bank's Web site.
The report says that NBU resolution No. 553 of September 15, 2009
approved a temporary procedure for crediting or refinancing those state
banks that issue long-term credits for events linked with Ukraine’s
preparations for the Euro 2012 European football championship.
“NBU resolution No. 568 of September 20, 2009 amended the temporary
procedure to expand the list of acceptable collateral for refinancing
credits, in particular, with state bonds of Ukraine, state guarantees
of the Ukrainian cabinet and other highly liquid assets of banks,”
reads the report.
The NBU said that the step would give the opportunity to support the
long-term liquidity of state banks that credit events linked with
Ukraine’s preparations for Euro 2012.
