The National Bank of Ukraine (NBU) has announced significant changes to its reserve calculation rules, effective from December 10, 2025. The primary objective of this adjustment is to stimulate long-term financing within the country’s financial system. By excluding loans obtained by Ukrainian banks from non-resident legal entities with foreign state ownership or an IFO share of at least 10% in the charter capital from the calculation of required reserves, the NBU aims to reduce the burden on domestic banks and encourage more investment in long-term projects.
The decision comes as part of the NBU’s broader strategy to enhance financial stability and support economic growth. The central bank has emphasized that the new rules are designed to promote a more dynamic and resilient banking sector, which in turn can attract foreign direct investment. This move is expected to lower the cost of capital for Ukrainian banks, making it more attractive for them to engage in long-term financing activities.
However, the NBU has also warned that the changes will be implemented carefully to ensure that the financial system remains stable. The bank is monitoring the potential impact of these adjustments on the overall economy and is prepared to make further refinements if necessary. Analysts speculate that this policy shift could have a positive impact on Ukraine’s economic development by encouraging more sustainable investment and reducing reliance on short-term financing.