Статья посвящена вопросам, связанным с валютным регулированием, которые возникают, когда украинский заемщик берет кредит у иностранного кредитора
The conclusion of loan agreements with foreign lenders takes place in various cases in foreign capital markets, but attracting foreign borrowings is humpered by imperfections in the tight Ukrainian currency controls.
The licensing regime is the rule applicable to all outbound payments under cross-border loan agreements. Failure to obtain an individual license from the National Bank of Ukraine (NBU) for making payments under the cross-board loans exposes the person in breach to a fine in the full amount of such payment.
Performance of obligations under cross-border loans and suretyships (guarantees) requires the availability of foreign currency funds to the obligors. So, guarantor banks would be restricted from purchasing currency for making payments under their guarantees securing the obligations of a non-resident, since such payments by banks are not subject to the individual licensing regime.
There is the maximum permitted rate of interest under a loan agreement between a Ukrainian borrower and a foreign lender in the Ukrainian legislation. The NBU has the authority to review and alter this rate (the Interest Ceiling). At present, the shortage that the lender may fail to receive as a result of this prepayment limitation may reach up to 1.2% of total payments, excluding repayment of principal, which results from the difference between 9.8% per annum and 11% per annum, i.e. difference in the rates between the Interest Ceiling for loans for the term less than 1 year and the Interest Ceiling for loans for the term over 3 years.
Severance of the Ukrainian currency control rules may be illustrated by the requirement contained in the Resolution No. 171 dated 18 June 2008 of the NBU. According to this requirement Ukrainian banks have to keep at a non-interest-bearing reserve account with the NBU 20% of the amount of their short-term foreign currency loans for the whole term of such loans.
Источник: The Ukrainian Journal of Business Law. – 2011. – № 6. – P. 22 – 24.