RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of November 3, 2009 No. 650

About stimulation of crediting of economy of Ukraine

For the purpose of support of positive shifts in economy of Ukraine, increase in banking system stability, being guided by articles 7 and 55 of the Law of Ukraine "About the National Bank of Ukraine", Articles 66, 67 Laws of Ukraine "About banks and banking activity", the Board of the National Bank of Ukraine DECIDES:

1. Approve the Temporary accounting treatment by banks of cost of providing in the form of irrevocable unconditional guarantees of banks when forming reserve for compensation of possible losses on credit operations (further - the Temporary procedure) which is applied.

2. Allow banks till 31.12.2011:

2.1. In case of determination of net credit risk for calculation of reserve for compensation of possible losses on credit operations:

consider according to the Temporary procedure 100 percent of cost of providing in the form of irrevocable unconditional guarantees of banks with rating not below, than "investment class" according to the international scale which is confirmed in the bulletin and is posted on the official site of one of the leading world rating companies (Fitch IBCA, Moody's, Standard & Poors), on the credit operations classified as "doubtful" and "hopeless";

accept providing in the form of property rights on real estate which belongs to housing stock, on which later

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