NBU Updates the List of Benchmark Domestic Government Debt Securities that Banks Can Use to Meet Reserve Requirements

NBU Updates the List of Benchmark Domestic Government Debt Securities that Banks Can Use to Meet Reserve Requirements NBU Updates the List of Benchmark Domestic Government Debt Securities that Banks Can Use to Meet Reserve Requirements 17 Aug 2026 11:23 The National Bank of Ukraine is updating the list of benchmark domestic government debt securities (benchmark bonds) that the banks have been allowed to use to partially meet the reserve requirements. Effective 17 August 2026: the domestic government debt securities identified as ISINs UA4000228043 and UA4000232607 were excluded from the list of benchmark bonds, given their scheduled redemption was completed on 22 July 2026 and 5 August 2026, respectively instead, the domestic government debt securities identified as UA4000239099, which were first placed by the Ministry of Finance of Ukraine on 4 August 2026, were added to the benchmark bonds list. This measure is intended to stimulate banks’ activity at Ministry of Finance’s auctions to place domestic government debt securities, which is essential for ensuring that the state budget is financed without resorting to monetary financing. As previously reported, the banks have been able to use the securities on the benchmark bonds list to meet up to 60% of the reserve requirements. The benchmark bonds list is made by the NBU based on the proposals of the Ministry of Finance of Ukraine. From 17 August 2026, it will include 20 issues of securities, namely: UA4000228381, UA4000228811, UA4000229116, UA4000232177, UA4000232615, UA4000232896, UA4000232912, UA4000233613, UA4000234140, UA4000234553, UA4000234934, UA4000235642, UA4000236418, UA4000236632, UA4000237564, UA4000238844, UA4000238984, UA4000239057, UA4000239073, and UA4000239099. The updated list of benchmark bonds the banks have been allowed to use to meet in part the reserve requirement was approved by NBU Board Decision No. 245 On Amendments to NBU Board Decision No. 752 dated 23 November 2017, dated 16 August 2026 , to be enacted on 17 August 2026. Background Reserve requirements are one of the instruments conventionally used by central banks. This is how reserve requirements operate: a bank sets aside in its correspondent account with the central bank an amount of funds identified as a percentage of the bank’s liabilities (also known as reserve ratio). The amount is calculated as an average over the reserve period. This makes it possible to smooth out potential occasional (unpredictable) fluctuations in liquidity, while also ensuring the effective use of reserve requirements for their primary purpose, which is to absorb a part of the banking system’s spare liquidity. The banks are allowed to cover a portion of required reserves with benchmark bonds in order to increase the effectiveness of money market regulation and avoid monetary financing of the budget deficit. Full information on the amount of reserve requirements formed by banks is available here . Tags: Tags: financial markets reserve requirements Поділитися: Поділитися: Theme news NBU Implements Package of Measures to Ease FX Controls, with Main Focus on Supporting Households 10 Aug 2026 21:15 Businesses Remain Upbeat about Their Performance Outlook – Business Outlook Survey in July 3 Aug 2026 12:25 NBU Expands the List of Benchmark Domestic Government Debt Securities that Banks Can Use to Meet Reserve Requirements 15 Jul 2026 19:15 All news Subscribe for notifications Subscribe to news alerts