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The document ceased to be valid since  November 23, 2017 according to Item 3 of the Resolution of Board of the National Bank of Ukraine of  November 21, 2017 No. 118

RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of February 23, 2015 No. 124

About features of implementation of some currency transactions

(as amended on 13-04-2017)

According to requirements of article 99 of the Constitution of Ukraine, Articles 7, of 25, of 44, 56 Laws of Ukraine "About the National Bank of Ukraine", the Decree of the Cabinet of Ministers of Ukraine of February 19, 1993 "About system of currency control and currency exchange control" Board of National Bank Ukraine decides No. 15-93:

1. Enter the following additional measures concerning activities of banks in the sphere of carrying out currency transactions:

1) to prohibit to authorized banks to perform purchase of foreign currency at the request of clients at the expense of the funds in hryvnia raised by these clients in the form of the credit. The responsibility for violation of requirements of this subitem is conferred on authorized banks.

Requirements of this subitem do not extend to the transactions performed:

physical person at the expense of borrowing facilities in hryvnia for the purpose of accomplishment of own obligations to authorized creditor bank under the agreement of consumer crediting in foreign currency;

the subject of managing - resident of Ukraine at the expense of the borrowing facilities in hryvnia raised by this subject under the state guarantee for the purpose of financing of the programs approved by the Cabinet of Ministers of Ukraine connected with increase in defense capability and safety of the state (within the amount on which the corresponding state guarantee is issued);

2) to oblige authorized banks to make advance payments (advance payment) in foreign currency for commodity import under the external economic contract (contract) which total cost exceeds 5000000 US dollars (equivalent of this amount in other foreign currency on the official rate of hryvnia to the foreign currencies established by the National Bank of Ukraine on the date of the conclusion of the agreement) only with use of letter of credit form of calculations which answers the following conditions:

the letter of credit shall be confirmed with bank which rating on classification of one of the leading world rating companies (Fitch Ratings, Standard & Poor "s, Moody" s) conforms to requirements to the first-class banks (not below investment class). The requirement of this paragraph does not extend to case when financing of commodity import is performed with participation of foreign export credit agency which country of incorporation belongs to the countries which have official rating assessment not below category A, confirmed in the bulletin of one of the leading world rating companies (Fitch Ratings, Standard & Poor's, Moody's);

purchase of foreign currency can be performed only for the purpose of ensuring confirmation of the letter of credit (forming of cash cover) and for fee of nonresident banks which take part in transactions according to the letter of credit;

payment of means according to the letter of credit is performed after receipt of documents and establishment of their proper representation.

2. Requirements of the subitem 2 of Item 1 of this resolution extend to purchase, transfer of foreign currency on own transactions of authorized banks and transactions which are performed at the request of clients.

3. In case of not determination  of total cost of the agreement of the requirement of the subitem 2 of Item 1 of this resolution are applied by the external economic agreement (contract) which provides commodity import if the total amount of the transfer (on accomplishment of obligations to the nonresident on commodity import) made since the date of entry into force of this resolution together with transfer amount which order on accomplishment is provided exceeds 5000000 US dollars respectively, or equivalent of this amount in other currency on the official rate of hryvnia to foreign currencies on the date of the conclusion of the agreement.

If the external economic agreement (contract) which provides commodity import, was signed before entry into force of this resolution, then requirements of subitems 2 and 3 of Item 1 of this resolution are applied if the total cost of the goods acquired at the nonresident according to this agreement which on the date of entry into force of this resolution is not paid yet and is subject to payment in accordance with the terms of the agreement, exceeds 50000 US dollars or 500 000 US dollars respectively, or equivalent of this amount in other currency on the official rate of hryvnia to foreign currencies on the date of the conclusion of the agreement.

Requirements of subitems 2 and 3 of Item 1 of this resolution extend also to cases of implementation by the resident of advance payments (advance payment) in foreign currency for commodity import under the external economic agreements (contracts) signed with the same nonresident if the total amount of advance payments (advance payment) under these agreements during one calendar month exceeds 50000 US dollars or 500 000 US dollars respectively, or equivalent of this amount in other currency on the official rate of hryvnia to foreign currencies.

4. Requirements of the subitem 2 of Item 1 of this resolution do not extend to import transactions of residents on purchase:

goods at the expense of the funds raised directly by these residents on the credits, loans according to international treaties of Ukraine which consent to be bound is provided by the Verkhovna Rada of Ukraine or from international financial institutions which member is Ukraine, or from international financial institutions under agreements with which Ukraine undertook to provide the legal regime provided to other international financial institutions;

the military goods, goods of double use and services (technical assistance) of double use determined by the Law of Ukraine "About the state control of the international transfers of military goods and double use";

oil which is classified in commodity subcategory 2709 00 90 00 according to UKTVED;

gas natural which is classified in subsubline item 2711 11 00th 00, 2711 21 00 00 according to UKTVED;

the unirradiated fuel elements (fuel elements) classified in subsubline item 8401 30 00 00 according to UKTVED;

the electric power that is classified in commodity subcategory 2716 00 00 00 according to UKTVED;

the gasolines, fuel oil and diesel fuel classified in goods item of 2710 according to UKTVED except commodity subcategories 2710 91 00 00 and 2710 99 00 00.

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