The National Bank banned the restructuring of foreign currency loans by converting them into hryvnia for all borrowers, except for financial institutions. The corresponding decision was enshrined in the Decree of the National Bank No. 102 dated May 20.

This resolution amended the NBU resolution No. 18 of February 24, which was supplemented by paragraph 193, according to which banks are prohibited from:.

carry out debt restructuring under loan agreements concluded by them with borrower clients (except for banks) by changing the currency of fulfillment of the obligation on a bank loan from foreign currency to hryvnia.

provide loans in national currency for the purpose of repayment by the client-borrower of bank loans in foreign currency (including interest and other payments under a loan agreement in foreign currency).

Consequently, banks are prohibited from converting dollar loans of clients (except banks) into hryvnia.

As you know, in 2021 the Verkhovna Rada adopted a law providing for the conversion of foreign currency loans into hryvnia..

The law provided that after restructuring, the loan must be repaid within 10 years, interest on such restructured loans is paid at the market rate in national currency. Such a right, according to the law, was given to borrowers who did not have overdue debts as of 2014.