National Bank of Ukraine Resurrects Interest Rate Limits for Foreign Loans

    November 2009

    On October 15, 2009 the National Bank of Ukraine (NBU) enacted a new regulation that brought back to life limits on maximum interest rates for foreign loans. The regulation and interest rate limits went into effect on November 15, 2009.

    In “National Bank of Ukraine Resurrects Interest Rate Limits for Foreign Loans,” published in the November 2009 edition of the Russia/Eurasia Executive Guide, Squire Sanders lawyers Peter Z. Teluk and Kateryna S. Kokot discuss the details of the regulation. They describe how the limits will be applied, the implications for loan agreements registered before November 15, considerations when extending foreign loans and possible exceptions to the interest rate limits for Ukraine residents carrying out projects of strategic importance to the country's economy.