National Bank of Ukraine (NBU) has asked commercial banks to provide information about proceedings relating to foreign currency loans. This is stated in a telegram to the National Bank.

"National Bank of Ukraine has asked for up to 8 February 2010 the Legal Department ... information on the number of court cases in 2009 for claims of banks" clients on the invalidation of contracts for the provision of loans in foreign currency as well as the amount of such loans ..." - the telegram.

National Bank asked to share information passed in favor of the bank cases in favor of the client and the number of cases is still under consideration.

As reported in the Ukrainian courts had taken a number of decisions under which the prisoners with the bank to provide foreign currency loans was null and void, as one means of payment in Ukraine can only be a national currency - hryvnia.

Supreme Economic Court of November 18, 2009 overturned one of the above court rulings on the invalidation of the currency of the loan agreement.

National Bank of Ukraine in his letter dated December 7, 2009, in connection with bank queries regarding the legality of the conclusion of loan agreements in foreign currency, explained that the authorized banks shall have the right to carry out operations to extend credit in foreign currency under banking licenses and written authorization for the transactions with currency values, and the implementation of this type of operation does not require individual licensing.

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