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NBU to suspend long-term refinancing, interest rate swaps from Oct
KYIV. Sept 9 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) suspend long-term refinancing and interest rate swaps at the start of Q4 2021 to curb inflation, the press service of the regulator said on Thursday.
"Phasing out the emergency monetary measures is in line with the NBU’s monetary policy, which aims to curb inflation. On the other hand, this decision will not affect the banking system, given its high liquidity surplus," NBU Governor Kyrylo Shevchenko said.
According to the report, the last long-term refinancing tender will be held on September 10, and the last interest rate swap auction is scheduled for September 29.
"The suspension of further interest rate swap transactions by the NBU does not mean that the regulator is no longer interested in developing this instrument. We are ready to continue to discuss ways to improve the infrastructure of different segments of the financial market," NBU Deputy Governor Yuriy Heletiy said.
In addition, from 1 October 2021, the maturity of refinancing loans offered in weekly tenders will be reduced to 30 days from 90 days.
