NBU changes rules of reserving to stimulate long-term financing
Starting December 10, 2025, the National Bank of Ukraine (NBU) will exclude loans obtained by banks from non-resident legal entities with foreign state shareholders or an IFO share of at least 10% in the charter capital from the calculation of required reserves.
"Currently, the algorithm for calculating required reserves does not include all loans raised from IFOs. The innovations will increase incentives for banks to raise long-term funds to finance reconstruction projects," the National Bank reported on its website.
The regulator added that, starting November 10, 2025, reserve ratio calculations will also exclude funds forcibly withdrawn in accordance with the Russian Federation's asset seizure law, as well as funds blocked due to sanctions.
"These funds are immobilized and do not affect monetary processes; therefore, excluding them optimizes the calculation of required reserves. The introduced changes will not significantly impact the total volume of reserves in the banking system," the NBU explained.
The regulator clarified that the relevant changes were approved by the National Bank Board on October 10, 2025.
According to the NBU, required reserves for the period from September 11 to October 10 amount to UAH 574.1 billion.