RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of June 8, 2017 No. 49

About approval of Rules of calculation by banks of Ukraine of total cost of the credit for the consumer and real annual interest rate under the agreement on consumer loan

According to Articles 7, 15 and 56 Laws of Ukraine "About the National Bank of Ukraine", article 56 of the Law of Ukraine "About banks and banking activity", article 5 of the Law of Ukraine "About consumer crediting", for the purpose of establishment for banks of Ukraine for the consumer and real annual interest rate under agreements on consumer loan the Board of the National Bank of Ukraine decides method of calculation of total cost of the credit:

1. Approve Rules of calculation by banks of Ukraine of total cost of the credit for the consumer and real annual interest rate under the agreement on consumer loan which are applied.

2. Declare invalid the 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", registered in the Ministry of Justice of Ukraine on May 25, 2007 for No. 541/13808.

3. To department of methodology (Ivanenko N. V.) after official publication to bring contents of this resolution to the attention of banks of Ukraine for management and use in work.

4. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Rozhkova K. V.

5. The resolution becomes effective since June 10, 2017.

Approved by the Resolution of Board of the National Bank of Ukraine of June 8, 2017 No. 49

Rules of calculation with banks of Ukraine of total cost of the credit for the consumer and real annual interest rate under the agreement on consumer loan

1. These rules establish for banks of Ukraine method of calculation of total cost of the credit for the consumer and real annual interest rate under agreements on consumer loan.

2. These rules are developed according to the Laws of Ukraine "About banks and banking activity", "About the National Bank of Ukraine", "About consumer crediting".

3. The terms used in these rules are used in the values determined by acts of the legislation of Ukraine, including regulatory legal acts of the National Bank of Ukraine.

4. The bank calculates total cost of the credit for the consumer (further - total cost of the credit) in terms of money according to method of calculation of total cost of the credit for the consumer given in appendix 1 to these rules.

5. The bank provides to the consumer the detailed list of the payments constituting total cost of the credit in schedule type (according to the terms specified in the agreement on consumer loan - by the number of days, monthly, quarterly) by repayment sums of principal debt, interest payment for use of the credit, the cost of all accompanying services of bank, the credit intermediary (in the presence) and the third parties on each payment period in the form given in the table of calculation of total cost of the credit for the consumer and real annual interest rate under the agreement on consumer loan of appendix 2 to these rules.

The bank can provide to the buyer the payment schedule in case of crediting in the form of crediting of the account, credit line.

6. The bank calculates real annual interest rate under the agreement on consumer loan (further - real annual interest rate) as a percentage according to technique, calculation of the real annual interest rate for the agreement on consumer loan given in appendix 3 to these rules.

7. The bank calculates real annual interest rate, based on the assumption that the agreement on consumer loan remains valid during the effective period provided by terms of the contract about consumer loan and that bank and the consumer will be executed by the obligations on conditions and in the terms determined in the agreement.

8. The bank has the right to calculate total expenses on consumer loan, based on the assumption that payments for services of bank will remain invariable and will be applied during the term of the agreement about consumer loan if the agreement on consumer loan contains the conditions allowing interest rate realignment and/or other payments for the services of bank included in total expenses on consumer loan, and such change cannot be determined at the time of calculation of total cost of the credit and real annual interest rate.

9. The bank notes real annual interest rate and total cost of the credit on line of "All" in columns 17 and 18 (according to) the form given in appendix 2 to these rules.

Appendix 1

to Rules of calculation with banks of Ukraine of total cost of the credit for the consumer and real annual interest rate under the agreement on consumer loan (Item 4)

Method of calculation of total cost of the credit for the consumer

The bank calculates total cost of the credit for the consumer in terms of money on the following formula:

                                    OCK = ORK + ORPK,

where OSK - total cost of the credit;

ORK - the general loan amount, that is the amount of the means provided and/or can be provided to the consumer under the agreement on consumer loan;

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