The National Bank of Ukraine introduced changes to the requirements for the formation of mandatory reserves by banks in order to increase the effectiveness of regulation of the money market in the conditions of martial law and stimulate the attraction of external financing.
From November 10, 2025, compulsorily seized and sanctioned funds will not be included in the calculation of mandatory reserve standards. We are talking about forcibly seized funds in accordance with the Law of Ukraine “On the Basic Principles of Forcible Seizure in Ukraine of Objects of Property Rights of the Russian Federation and Its Residents”, as well as those that have come into the possession of the state in accordance with this law.
Funds blocked due to the application of special economic and other restrictive measures in accordance with the Law of Ukraine on Sanctions are also excluded. This decision will allow to optimize approaches to the calculation of reserves, because such funds are actually immobilized and do not affect monetary processes. At the same time, the total amount of reserves in the banking system will not change significantly.
Additionally, from December 10, 2025, the NBU excludes from the calculation of required reserves loans that banks receive for a period of more than one year from non-resident legal entities, the shareholders of which are a foreign state and/or the share of international financial organizations in the authorized capital is at least 10%. Currently, all loans received from MFIs have already been removed from the calculation algorithm. The innovations are aimed at increasing incentives for banks to attract long-term resources to finance reconstruction projects.
