RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of June 17, 2004 No. 270

About approval of the Regulations on procedure for receipt by residents of the credits, foreign currency loans from nonresidents and provision by residents of foreign currency loans to nonresidents

According to Articles 7, of 30, "About the National Bank of Ukraine" and in pursuance of the resolution of Board of the National Bank of Ukraine of 21.05.2003 No. 209 "About measures for codification of regulatory legal acts of the National Bank of Ukraine" the Board of the National Bank of Ukraine decides 44 Laws of Ukraine:

1. Approve Regulations on procedure for receipt by residents of the credits, foreign currency loans from nonresidents and provision by residents of foreign currency loans to nonresidents it (is applied).

2. Add the List and rates of services in registration of organizations of banks, to provision of licenses (permissions) to banking operations, transactions with currency values and other services which are provided by the National Bank of Ukraine and its territorial administrations, the Boards of the National Bank of Ukraine approved by the resolution of 12.08.2003 No. 333 and registered in the Ministry of Justice of Ukraine 10.09.2003 for No. 787/8108 (with changes), Item 72 of such content:

"72. Provision to resident of the individual license on transfer out of limits of Ukraine of foreign currency for the purpose of provision by the resident of foreign currency loan to the nonresident - 3 400 UAH"

3. Recognize invalid:

Regulations on order of registration of agreements which provide the accomplishment by residents of debt obligations before nonresidents on the loans attracted from nonresidents, foreign currency loans approved by the resolution of Board of the National Bank of Ukraine of 22.12.1999 No. 602 and registered in the Ministry of Justice of Ukraine by 13.01.2000 No. 15/4236 (with changes);

the resolution of Board of the National Bank of Ukraine of 28.05.2001 No. 203 "About modification of the Regulations on order of registration of the agreements providing the execution by residents of debt obligations before nonresidents on the loans attracted from nonresidents, foreign currency loans" registered in the Ministry of Justice of Ukraine by 13.06.2001 No. 505/5696 (with changes);

the resolution of Board of the National Bank of Ukraine of 17.06.2002 No. 218 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of 28.05.2001 No. 203", registered in the Ministry of Justice of Ukraine by 08.07.2002 No. 564/6852.

4. To department of currency control (S. O. Yaremenko) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks for rukovodstvovaniye and use in work, and to banks - to permission of their clients.

5. To impose control of execution of this resolution on General department of banking supervision (V. V. Pushkarev), Department of currency control (S. O. Yaremenko) and territorial administrations of the National Bank of Ukraine.

6. The resolution becomes effective in 30 days after state registration in the Ministry of Justice of Ukraine.

Approved by the Resolution of Board of the National Bank of Ukraine of June 17, 2004 No. 270

Regulations on procedure for receipt by residents of the credits, foreign currency loans from nonresidents and provision by residents of foreign currency loans to nonresidents

This Provision is drafted according to requirements of Articles 7, of 30, 44 Laws of Ukraine "About the National Bank of Ukraine", Articles 5, of 11, 13 Decrees of the Cabinet of Ministers of Ukraine of 19.02.93 No. 15-93 "About system of currency control and currency exchange control", the Presidential decree of Ukraine "About settlement of procedure for receipt by residents of the credits, foreign currency loans from nonresidents and application of penalties for violation of the foreign exchange legislation" of 27.06.99 No. 734/99 and regulatory legal acts of the National Bank of Ukraine.

The National Bank of Ukraine (further - National Bank) this Provision establishes procedure for receipt by residents of the credits, foreign currency loans, including returnable financial aid from nonresidents, including order of registration of the agreements providing execution by residents of debt obligations before nonresidents on the loans attracted from nonresidents, foreign currency loans (further - agreements), and also procedure for provision by residents of foreign currency loans to nonresidents and issues to residents of individual licenses of National Bank on transfer out of limits of Ukraine of foreign currency for the purpose of provision by residents of foreign currency loans to nonresidents.

Section I. Procedure for receipt by residents of the credits, loans, rotary financial aid in foreign currency from nonresidents and registration of agreements

Chapter 1. General provisions

1.1. Residents (legal entities, including authorized banks, physical persons entrepreneurs, physical persons) (further - resident borrowers) can obtain the credits, loans, including returnable financial aid, in foreign currency (further in this Section - the credits) from nonresidents under agreements and according to the procedure, established by the Section I of this provision.

Regulations of the Section I of this provision do not extend to commercial credits, and also credit agreements / loan agreements which conditions provide use of national currency of Ukraine as currency of credit/loan and/or as instruments of payment.

1.2. The resident borrower (except authorized bank of Ukraine) attracts the loan from the nonresident through the authorized bank which provided consent to servicing of transactions under the agreement. The separate division of bank (branch, department) can carry out the functions of the serving bank under the agreement (further - the serving bank) determined by this Section as authorized bank, and from his name. If the contract with the nonresident provides receipt of the credit with receipt of funds on the account of the resident borrower outside Ukraine and/or debt repayment on such credit will be performed from the account of the resident opened outside Ukraine, then the resident borrower shall obtain in the procedure established by National Bank the individual license on placement of currency values on accounts outside Ukraine (unless the legislation of Ukraine allows to place currency values and to perform other transactions through the account opened outside Ukraine by resident without the corresponding individual license).

Servicing of transactions by authorized bank under the agreement is performed in case of availability and based on the valid registration of the agreement by National Bank.

The authorized bank performs the functions of the serving bank determined by the Section I of this provision, also by own agreements signed by it as the borrower with nonresident creditors.

1.3. Attraction of means by authorized banks on the terms of subordinated debt for the purpose of taking into account of these means in the capital of bank is performed on conditions which are provided by regulatory legal acts of National Bank on these questions. The agreement which provides attraction of financial resources in type of loan of foreign currency loans on the terms of subordinated debt for the purpose of taking into account of these means in the capital of bank, is subject to registration by National Bank according to requirements, established by the Section I of this provision.

The paragraph two is excluded according to the Resolution of Board of the National Bank of Ukraine of 20.07.2018 No. 83.

1.4. Resident borrowers obtain the credits and fulfill debt obligations before the nonresident creditor on the agreement only in non-cash form.

Currency transaction under the agreement which is performed with observance of requirements of the Section I of this provision does not require availability:

1) the individual license of National Bank on use of non-cash foreign currency in the territory of Ukraine as instruments of payment if initiator or the receiver on such currency transaction is the international financial institution (this regulation concerns only those transactions which are performed through the current account of international financial institution opened in authorized bank according to Procedure for opening and use of means according to current accounts of international financial institutions which are opened in authorized banks, the approved resolution of Board of the National Bank of Ukraine of May 19, 2014 for No. 286, registered in the Ministry of Justice of Ukraine on June 5, 2014 for No. 596/25373 (with changes) (further - the Procedure for use of accounts of IFI);

2) the individual license of National Bank on export, transfer and transfer out of limits of Ukraine of currency values if receiver on currency transaction is the nonresident creditor in agreement obligation and the currency is converted by resident (the borrower/debtor in agreement obligation and/or other person who fulfills obligations of such borrower / debtor in the obligation) within the amount which is payable the resident borrower for benefit of the nonresident creditor under the agreement taking into account requirements of this provision.

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