The draft law suggests that all banks and other financial institutions operating on the territory of Ukraine be given one month to restructure obligations envisioned by loan agreements in compliance with written applications of Ukrainian citizens, who have unfulfilled obligations denominated in foreign currency under respective loan agreements.
In compliance with the draft law, all consumer loans attracted for acquisition of any property less limitation of debt amount are subjected to the restructure.
Consumer loan, lien on which is transferred to another person (if it is not a financial institution), and is implemented by a borrower or a warrantor at the price of the right of surrender.
The consumer loan debt is converted at the official exchange rate of the National Bank of Ukraine as at the date of loan agreement signature. The exchange rate difference is written off by banks.
The interest rate on the loan after the restructure should not exceed the one set before the restructure.
Respective draft law was registered under No. 1558-1.