ENP Newswire -
Release date- 04062014 - Governor of the
A number of issues, including draft laws designed to stave off the adverse effects of the crisis on banking sector stability, measures to address the crisis' repercussions, and a moratorium on mortgage foreclosures for foreign currency loans secured by mortgage against residential property were high on the agenda.
The meeting was focused on discussing the draft law amending some laws of
The Governor of the
In the course of the Committee meeting, the participants explored possible ways to establish legal mechanisms to settle the problems faced by bank borrowers who had obtained foreign currency loans. The crisis that has triggered an increase in the exchange rate of the hryvnia against foreign currencies, specifically, the US dollar made it difficult for bank borrowers to service foreign currency loans. Given the fact that the vast majority of borrowers do not have sources of income in foreign currency, it is getting more and more difficult for them to meet their debt obligations.
Mr Stepan Kubiv informed the meeting participants that the
A sharp rise in the official exchange rate is a problem that has affected all market players, including both borrowers and creditors.
Preliminary data show that the total number of mortgage loan agreements denominated in foreign currency is 87.1 thousand pieces, with outstanding debts thereon being worth UAH 46.4 billion. The number of agreements to provide mortgage loans denominated in foreign currency that are used for house purchase is 64.2 thousand pieces, with outstanding debts thereon being worth UAH 26.4 billion. The average value of these loans amounts to
The meeting participants agreed to continue their efforts to devise legal mechanisms to address the problem related to outstanding foreign currency loans by setting up a
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