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Ministry of Justice of Ukraine

August 29, 2005

No. 946/11226

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of August 12, 2005 No. 290

About modification of some regulatory legal acts of the National Bank of Ukraine and establishment of limits of open foreign exchange position of bank

(as amended on 05-02-2019)

According to articles 44 and 55 of the Law of Ukraine "About the National Bank of Ukraine" and for the purpose of ensuring banking system stability the Board of the National Bank of Ukraine DECIDES:

1. Make to the section VIII of the Instruction on procedure for regulation of activities of banks in Ukraine approved by the resolution of Board of the National Bank of Ukraine of 28.08.2001 N 368 and registered in the Ministry of Justice of Ukraine 26.09.2001 for N 841/6032 (with changes), such changes:

1.1. To exclude Item 1.11 of Chapter 1.

1.2. To state Item 2.5 of Chapter 2 in such edition:

"2.5. Normative value of common open (long/short) foreign exchange position of bank (No more than 30 percent shall be N 13).

In this case restriction of risk separately for long open foreign exchange position and short open foreign exchange position of bank is set:

common long open foreign exchange position (H13-1) shall be no more than 20 percent;

common short open foreign exchange position (H13-2) shall be no more than 10 percent".

2. Declare invalid Item 3 of the resolution of Board of the National Bank of Ukraine "About the single questions connected with regulation of activities of commercial banks" of 17.12.98 N 524, registered in the Ministry of Justice of Ukraine 05.01.99 for N5/3298.

Item 3 is excluded according to the Resolution of Board of the National Bank of Ukraine of 22.06.2011 No. 204

3. Approve Regulations on procedure for establishment of limits of open foreign exchange position by the National Bank of Ukraine and control of their observance by banks it (is applied).

4. To department of currency control (O. A. Scherbakov) to bring contents of this resolution to permission of territorial administrations of the National Bank of Ukraine and banks for use in work.

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

6. Oblige banks of Ukraine to provide fulfillment of requirements of this resolution, since 01.10.2005.

7. To impose control over the implementation of this resolution on General department of banking supervision (Tkachenko O. O.), Inspection department, methodology and licensing of currency transactions (Pasenov N. O.) 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 August 12, 2005 No. 290

Regulations on procedure for establishment of limits by the National Bank of Ukraine
open foreign exchange position and control of their observance by banks

This Provision is developed according to article 44 of the Law of Ukraine "About the National Bank of Ukraine" for the purpose of ensuring stability in the foreign exchange market and restrictions of negative impact for its condition of transactions on purchase sale of foreign currencies and bank metals which are performed by authorized banks.

1. The National Bank of Ukraine (further - National Bank) has the right to establish for the bank (further - bank) performing in the foreign exchange market of Ukraine transactions on purchase sale of foreign currency and bank metals for hryvnias, limits of such open foreign exchange positions: general (long/short) in foreign currencies and bank metals and separately on groups of the corresponding foreign currencies and bank metals, and also on the corresponding currency or bank metal, separate active transactions with currency values.

2. Limits of open foreign exchange position (further - limits) are the quantitative restriction set by the National Bank of Ukraine as a percentage of the daily size of the foreign exchange positions opened by bank, namely: general (long/short) in foreign currencies and bank metals and separately on groups of the corresponding foreign currencies and bank metals, and also on the corresponding currency or bank metal, separate active transactions with currency values to the regulatory capital of bank.

3. Limit of common open foreign exchange position of bank (The l 13) is determined as ratio of the total value of open foreign exchange position of bank by all foreign currencies and bank metals in hryvnia equivalent to the regulatory capital of bank.

4. Limit of common long open foreign exchange position of bank (L13-1) is determined as ratio of size of excess of amount of requirements for foreign currency and bank metals over amount of obligations in hryvnia equivalent to the regulatory capital of bank.

5. Limit of common short open foreign exchange position of bank (L13-2) is determined as ratio of size of excess of amount of obligations by foreign currency and bank metals over amount of requirements in hryvnia equivalent to the regulatory capital of bank.

6. The National Bank sets limits the separate ordering document board decision of the National Bank of Ukraine and brings its content to permission of banks not later than in 10 days prior to Date of Introduction them in action.

7. The bank shall observe limits daily.

Calculation of arithmetic-mean size of the open foreign exchange position expressed as a percentage for month under report is perfromed on such formula:

Формула к Пост. Прав. Нац.Банка от 12.08.05 №290 

where VBVP - arithmetic-mean size for month under report

the open foreign exchange position expressed as a percentage for month under report;

VBVP - the actual value of the open i expressed as a percentage

foreign exchange position for i-y the working day in which the long/short foreign exchange position opened;

n - quantity of the working days in month under report in which the long/short foreign exchange position opened.

Arithmetic-mean sizes of the corresponding open foreign exchange positions expressed as a percentage for month under report are reporting data which are used by National Bank for control of observance by bank of the set limits, except case, stipulated in Item 10th this Provision.

8. The bank within limits has the right to determine limits for the structural divisions.

9. The bank perfroms calculation of common (long/short) open foreign exchange position based on the daily balance of bank.

The bank perfroms calculation of size of open foreign exchange positions in foreign currencies and bank metals and calculation of the regulatory capital of bank according to regulatory legal acts of National Bank.

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