The National Bank introduced the second credit support package for the economy in a month on September 5 — in response to intensified Russian attacks on infrastructure and businesses. This was reported by the regulator.
What is changing
Banks have been given the right to account for property rights to proceeds from shipped goods, completed work, or provided services as collateral. The liquidity coefficient for such security has been set at 0.3. This opens access to credit for companies that do not have sufficient fixed assets — equipment or real estate — for classical collateral.
Separately, the liquidity coefficient for local guarantees has been increased to 0.8. This makes them substantially more attractive for banks when assessing risk. Approaches to accounting for portfolio guarantees when mitigating credit risk have also been unified, and testing periods for banks to adapt to the new rules have been extended.
Who this is aimed at
The NBU directly names target groups: retailers and manufacturers of goods without significant fixed assets, as well as municipal enterprises. This refers to businesses that physically operate under fire — often without the ability to accumulate material assets that are traditionally accepted as collateral.
"The banking system is already supporting the economy by absorbing the shocks of a full-scale war and increasing lending at steady rapid rates. Given this positive momentum and the good state of the system, we must not only respond promptly to new challenges but act proactively," said NBU Governor Andriy Pyshny.
Context of the decision
This is the second relaxation package in a month: in August, the NBU already simplified lending conditions for farmers and businesses for the same reason — intensified attacks. In parallel, the government provided banks with 20.8 billion hryvnia in portfolio guarantees for business lending through a separate decision.
The regulator's logic is clear: the more accurately strikes target production facilities and logistics, the fewer traditional assets businesses have left for collateral. Expanding security instruments is an attempt to maintain the credit flow without waiting for the problem to become systemic.
- In August, the NBU already relaxed lending rules for farmers and businesses due to intensified Russian attacks.
- The Cabinet of Ministers provided 20.8 billion hryvnia in portfolio guarantees for business lending by banks through a separate decision.
The question is whether the banking system will manage to adapt new instruments faster than the intensity of attacks increases — this will determine whether lending remains an effective tool for supporting the economy or becomes a formality on paper.
