The National Bank of Ukraine (NBU) cancelled its moratorium on the early withdrawal bank deposits, which has been in act since December 2008.

A respective bank’s resolution N282 of May 14, 2009, which came into force on the day it was concluded, was forwarded to reporters.

In particular, the moratorium was cancelled to make stronger “certain positive trends seen in the restoration of the trust of depositors in the Ukrainian bank system”, the National bank’s resolution admits.

According to the resolution, the National bank cancelled provision 2 of NBU resolution No. 413, under which banks were obliged to take all the necessary measures not to allow an early return of deposits.

In fact, the December NBU resolution prolonged the moratorium concluded in the autumn of 2008.

The clause also instructed banks to take acts to cut gaps in the terms of assets and liabilities: to revise the value of property received as collateral; to decrease administrative expenses and send at least 60% of their net profit for 2008 to their reserve funds.