Ukraine’s Central Bank Lowered Reserve Level, Kommersant Says

Ukraine’s central bank lowered the amount of required reserves banks hold on a special account at the central bank during one month to 50 percent from 60 percent, Kommersant-Ukraine newspaper reported, citing documents it obtained.

The new reserve requirement comes into force on May 31, according to the Kiev-based newspaper. The level of reserves held on a daily basis on central bank accounts will be increased to 40 percent from 30 percent, according to Kommersant.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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