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The document ceased to be valid since  June 10, 2017 according to Item 2 of the Resolution of Board of the National Bank of Ukraine of June 8, 2017 No. 49

It is registered

Ministry of Justice of Ukraine

May 25, 2007

No. 541/13808

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of May 10, 2007 No. 168

About approval of Rules of provision by banks of Ukraine of information to the consumer about terms for crediting and aggregate value of the credit

According to item 4 of article 7 of the Law of Ukraine "About the National Bank of Ukraine", Articles 47, 49 and 56 Laws of Ukraine "About banks and banking activity", article 11 of the Law of Ukraine "About consumer protection" for the purpose of consumer protection during the conclusion of agreements on provision of consumer loans and ensuring provision by banks to consumers of the complete information about aggregate value of the credit the Board of the National Bank of Ukraine DECIDES:

1. Approve Rules of provision by banks of Ukraine of information to the consumer about terms for crediting and aggregate value of the credit (further - Rules) (are applied).

2. To department of methodology of bank regulation and supervision (N. V. Ivanenko) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to the attention of structural divisions of central office, territorial administrations of the National Bank of Ukraine, and also banks of Ukraine for use in work.

3. To department of bank regulation and supervision (V. O. Zinchenko) and territorial administrations of the National Bank of Ukraine during implementation of inspection checks of banks and their branches, departments to check fulfillment of requirements of Rules.

4. The resolution becomes effective in 10 days after state registration in the Ministry of Justice of Ukraine.

5. To impose control over the implementation of this resolution on the chief executive - the director of Directorate of bank regulation and supervision O. I. Kireev, Department of bank regulation and supervision (V. O. Zinchenko) and chiefs of territorial administrations of the National Bank of Ukraine.

Acting Chairman A. V. Shapovalov

Approved by the Resolution of Board of the National Bank of Ukraine of May 10, 2007 No. 168

Rules of provision by banks of Ukraine of information to the consumer about terms for crediting and aggregate value of the credit

It is approved

National Bank of Ukraine

 

1. General provisions

1.1. These Rules 49 and 56 Laws of Ukraine "About banks and banking activity", article 11 of the Law of Ukraine "About consumer protection" for the purpose of consumer protection are drafted according to item 4 of article 7 of the Law of Ukraine "About the National Bank of Ukraine", Articles 47, during the conclusion of agreements on provision of consumer loans (further - credit agreements), warnings of drawing to consumers of moral or material harm because of provision of consciously unreliable or incomplete information.

1.2. These Rules regulate procedure for provision by banks to the consumer of complete, necessary, available, reliable and timely information about aggregate value of consumer loan (the credit for current demands, the credit in investing activities, mortgage loan) taking into account interest rate for it, the cost of all accompanying services, and also other financial liabilities of the consumer which are connected with obtaining, servicing and loan repayment (including provided in the form of credit line, the overdraft on the card account, etc.) and there shall be legislations of Ukraine and/or the credit agreement on provision of consumer loan paid by the consumer according to requirements.

1.3. Banks shall provide accomplishment of these Rules:

in case of distribution of information on services in loan granting to consumers;

during the conclusion of credit agreements with consumers;

in case of oral or written addresses of consumers.

1.4. The terms used in these Rules are used in the values determined by legal acts of Ukraine and regulatory legal acts of the National Bank of Ukraine (daleenatsionalny bank).

2. Requirements about provision to the consumer of the preliminary information about terms for crediting and estimated aggregate value of the credit

2.1. Banks shall provide before the conclusion of the credit agreement to the consumer in writing information on terms for crediting, and also estimated aggregate value of the credit, having specified the following:

a) the name and the location of bank - the legal entity and his structural division;

b) terms for crediting, in particular:

possible credit amount;

the term for which the credit can be obtained;

the purpose for which the credit can be utilized;

forms and types of its providing;

need of implementation of assessment of property and if such assessment is necessary by whom it is performed;

the available crediting forms with the short description of differences between them, including between obligations of the consumer;

type of interest rate (fixed, floating, etc.);

benefits and shortcomings of the offered schemes of crediting;

c) estimated aggregate value of the credit taking into account:

loan interest rate, the cost of all accompanying services, and also other financial liabilities of the consumer which are connected with obtaining, servicing and loan repayment (including for benefit of the third parties - insurers, appraisers, registrars, notaries, etc.);

loan repayment options, including the number of payments, their frequency and amounts;

opportunity and conditions of early repayment of the loan;

d) other conditions, stipulated by the legislation.

2.2. Information on the payments of the consumer specified in Item 2.1 of this Chapter is provided with obligatory specifying of base of their calculation (the amount based on which calculations, in particular the amount of granted loan, the amount of outstanding loan, fixed amount, etc. are made is specified).

2.3. If separate terms for crediting will be effective during not all term of use of the credit, banks have surely to acquaint the consumer with conditions, and also with the term during which such conditions, and with procedure for informing the consumer on their change will be effective.

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