Page 45 - UKRRptJuly18

8.5.1 Fixed income - bond news
The National Bank of Ukraine (NBU) has authorised local administrations to place municipal bonds on the stock exchange on Free of Payment terms (FOP), Interfax news agency reported on June 26. Until now, the regulation on the conduct of depository and clearing activities and ensuring the settlement under securities transactions by the central bank regulating the NBU depository's municipal bonds trading, prescribed placement of municipal bonds only over-the-counter. In order to improve accessibility of lending resources for local authorities, the NBU has amended the regulation and authorized the NBU Depository to transact such operations. Specifically, the regulation defines the operating procedures for the NBU depository, stock exchanges, issuers and depository institutions on placement of municipal bonds on the stock exchange. The new rules also regulate the procedure for interaction between the NBU depository and the stock exchange during the placement of municipal
45 UKRAINE Country Report July 2018 www.intellinews.com