The National Bank has updated the list of benchmark-OVDPs (domestic government loan bonds) to cover banks' required reserves.
This is stated in the NBU's message, the Ukrainian News agency reports.
Thus, from August 11, 2025:
- domestic government loan bonds with the identification number (ISIN) UA4000227193 will be excluded from the list of benchmark-domestic government loan bonds due to its scheduled repayment on August 6, 2025 in full;
- instead, domestic government loan bonds with ISIN UA4000236418 will be added to the list of benchmark-OVDPs, the first placement of which was carried out by the Ministry of Finance of Ukraine on July 15, 2025.
Banks are able to include the specified list of benchmark-domestic government loan bonds in covering up to 60% of the volume of required reserves.
The relevant list is determined by the National Bank, taking into account the proposals of the Ministry of Finance of Ukraine.
From August 11, 2025, it will contain 17 issues of securities, namely: UA4000227201, UA4000227490, UA4000228043, UA4000228381, UA4000228811, UA4000229116, UA4000232177, UA4000232607, UA4000232615, UA4000232896, UA4000232912, UA4000233613, UA4000234140, UA4000234553, UA4000234934, UA4000235642 and the new UA4000236418.
As the Ukrainian News agency earlier reported, a bank is required to reserve funds on its correspondent account with the central bank in an amount determined as a certain percentage of its liabilities (reserve ratio).
This amount must be formed on average over the reservation period.
This makes it possible to smooth out possible conjunctural (unforeseen) fluctuations in liquidity, while ensuring the effective use of the instrument itself for its intended purpose - limiting part of the free liquidity of the banking system.
In order to increase the efficiency of monetary market regulation and help avoid financing the budget deficit through emission sources, banks are allowed to cover part of the required reserves at the expense of benchmark government bonds.
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