NBU has decided to set the rate on unsecured overnight loans does not lower the discount rate 5 PP

National Bank has decided to set the rate on unsecured overnight loans at a level no lower than the discount rate 5 percentage points.

says the decree NBU № 415 from July 21, registered with the Ministry of Justice on 10 August.

The interest rate on overnight loans without collateral is the highest rate of National Bank and placed on a tender basis at a rate not lower than the discount rate plus 5 percentage points, - says the paper.

Ordinance also provides that the rate on overnight loans secured set at no lower than the discount rate 3 percentage points

In determining a discount rate of NBU, according to the decree, taking into account: the actual and projected levels of inflation, actual and projected levels of real GDP, the size of the budget deficit and the sources of its cover, the actual and projected rates of payments and trade balance, growth in money supply in circulation, the dynamics of interest rates in the interbank credit market, the dynamics of the rates on loans and deposits of banks.

Ordinance also provides that in determining the NBU discount rate takes into account inflation or devalvatsionnye expectations, as well as the rates refinancing central banks of countries with close trade and economic relations with Ukraine.

As reported, in August 12, 2009 NBU reduced the discount rate at 0.75 PM up to 10.25%.

On August 21, the NBU has set overnight rate at 17.0% per annum for unsecured loans and at the level of 15,5% per annum in the secured credit gosobligatsiyami.

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