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Only land plots with a cadastral number can serve as security

CMS Cameron McKenna
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Ukraine
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January 26 2012

On 20 December 2011, the Parliament of Ukraine adopted the Law of Ukraine “On Amendments to several Legislative Acts of Ukraine with regards to Strengthening of Control over the Conclusion of Pledge Agreements and Mortgage Agreements and the Title to Them” No. 4188-VI (the “Law”

NBU will support banks with national currency liquidity

CMS Cameron McKenna
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Ukraine
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December 21 2011

The National Bank of Ukraine (the “NBU”) adopted Regulation No. 434 on “Procedure for carrying out foreign currency swap transactions by the NBU”, dated 5 December 2011

NBU to stimulate use of local currency in cross-border transactions

CMS Cameron McKenna
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Ukraine
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November 30 2011

In an attempt to expand the use of Ukrainian Hryvnia (“Hryvnia”) in cross-border transactions, the National Bank of Ukraine (the “NBU”) submitted to the parliament Draft Law No. 9488 “On Amendments to the Article 7 of the Decree of the Cabinet of Ministers of Ukraine “On the System of Currency Regulation and Currency Control”, dated 22 November 2011 (the “Draft Law”

Banks’ freedom restricted with respect to consumer loans

CMS Cameron McKenna
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Ukraine
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November 24 2011

In its Ruling No. 15-рп2011 (the “Ruling”), dated 10 November 2011, the Constitutional Court of Ukraine (the “CCU”) ruled that provisions of Article 11 of Law of Ukraine No. 1023-XII “On Consumer Rights Protection”, dated 12 May 1991, as amended (the “Law”) apply to all consumer loan agreements between banks and borrowers not only at the stage of the conclusion of such agreements but also during their performance

Transparency of banks’ ownership to improve

CMS Cameron McKenna
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Ukraine
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November 15 2011

On 8 September 2011, the National Bank of Ukraine adopted Resolution No. 306 “On the Approval of Several Legislative Acts of the National Bank of Ukraine”, which became effective on 7 November 2011

No licenses for payments by Ukrainian sureties to foreign creditors

CMS Cameron McKenna
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Ukraine
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September 7 2011

On 25 July 2011, the National Bank of Ukraine (the "NBU") adopted Resolution No. 250 amending the Regulation "On the procedure of issuing individual licences for transfer of foreign currency outside Ukraine to pay for the bank metals and perform certain currency transactions" (the "Resolution"

Terms and conditions for state and municipal guarantees changed

CMS Cameron McKenna
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Ukraine
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August 17 2011

On 7 August 2011, the Law of Ukraine No. 3614-VI “On Amendments to the Budget Code of Ukraine and Several Other Legislative Acts of Ukraine” (the “Law”) came into force

Reissue of banking licences

CMS Cameron McKenna
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Ukraine
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August 5 2011

On 27 July 2011, the National Bank of Ukraine (the “NBU”) issued Letter No. 41-2083676-8851 “On the Reissue of Banking Licences and Written Permits of the National Bank of Ukraine to Perform Certain Transactions” (the “Letter”) according to the amendments introduced by Law of Ukraine No. 3024- VI “On Amendments to Certain Ukrainian Laws on Control over Bank Operations” dated 15 February 2011, as amended (the “Law”

More freedom on currency swap operations

CMS Cameron McKenna
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Ukraine
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June 2 2011

On 13 April 2011, the National Bank of Ukraine (the "NBU") approved Resolution No. 111 ‘On Amendments to Certain Legislative Acts of the National Bank of Ukraine’ (“Resolution No. 111”), which brought changes to the Regulation ‘On the Procedure for and Terms of Foreign Currency Trading’ approved by Resolution No. 281 dated 10 August 2005