The National Bank of Ukraine (NBU) has revised its regulatory framework to enhance foreign investors' access to reconstruction financing in Ukraine, according to the regulator's press service.
Effective from July 24, 2024, the NBU will expand its services to include:
- Opening and servicing securities accounts for foreign financial institutions as nominal holders.
- Opening and servicing securities accounts for foreign depositories as direct owners.
These changes aim to create infrastructure for attracting foreign investments into Ukraine. By establishing securities accounts for foreign financial institutions, the NBU will bridge domestic and international financial markets, allowing foreign capital to flow into Ukraine.
The updates will facilitate investments in various financial instruments issued for reconstruction, including local government bonds, infrastructure bonds, international financial organization bonds, and other debt instruments aimed at Ukraine’s recovery.
Additionally, the changes support the planned expansion of the link with the international central depository Clearstream Banking Luxembourg. This adjustment aligns with the provisions of the Memorandum of Economic and Financial Policies with the IMF and represents the first phase of efforts to improve capital market infrastructure.
