The National Bank of Ukraine (NBU) expanded criteria for banks willing to participate in currency intervention asking for the best exchange rate. The information was published on NBU’s website.
The NBU decision is outlined in resolution No.1 dated Jan. 5, 2017, that amended the provision and conditions of trade with foreign currency. The new rules came into effect on Jan. 6.
Now 20 banks with the highest rating among interbank currency market players over the past quarter will be able to take part in currency intervention.
The rating will be calculated based on three criteria: the volume of banks’ currency sale and purchase transactions with other market players and the NBU (the criterion’s share of the final rating is 50 percent); the volume of banks’ cashless currency sale and purchase transactions with clients (30 percent) and the volume of banks’ assets (20 percent).
