The government submitted to the Parliament a draft law on the restructuring of foreign currency mortgage loans

The Cabinet of Ministers of Ukraine on 3 February introduced to Parliament a draft Law on the restructuring of the obligations of citizens of Ukraine on loans in foreign currency to purchase a single housing (mortgage loans).

On the website of the Parliament at the moment the text of the law is absent.

According to a post on the website of the National Bank of Ukraine in the network Facebook, the government draft law allows you to restructure of mortgage loans 37 thousand families for the sum more than 20 billion USD, accounting for 40% of the total volume of foreign currency mortgages provided by banks to individuals, and 23% of total foreign currency loans granted to individuals.

According to the NBU, the bill provides for fixation of the rate of interest at which the credit is extended, for 3 years.

As reported, the law on restructuring of credits in foreign currency, the Verkhovna Rada adopted on 2 July, after which a number of MPs called on the President to apply the veto.

In turn, the national Bank of Ukraine July 3, stated that the adoption of this law will inflict devastating damage to the financial and banking system of Ukraine, will endanger the well-being of all citizens.

«If all loans granted to natural persons-residents in foreign currency, to convert into hryvnia at the exchange rate 5,05 UAH/1$, the banking system will suffer losses in the amount of about 100 billion UAH», – noted on the website of the Central Bank.

Speaker Volodymyr Groysman long signed the law, and did it once in the Parliament was registered a government bill on restructuring foreign currency mortgage loans with additional benefits for participants of the ATO. In particular, the Cabinet proposes to allow individuals to restructure loans for the purchase of single family housing with the write-off of 25-75% of the volume of the mortgage, and for members of ATU –80-100% mortgages, the balance of which does not exceed about 2.5 million UAH on 1 January 2015 and for which no outstanding debt as of 1 January 2014 or she was repaid. These loans constitute about 20 billion USD, or about 40% of the total mortgage, and the proposed restructuring mechanism was supported by 19 of the largest Ukrainian banks, which account for 75% of banking system assets.

The government submitted to the Parliament a draft law on the restructuring of foreign currency mortgage loans 03.02.2016

Февраль 3rd, 2016 by
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