The National Bank of Ukraine has expanded the set of benchmark domestic government debt securities that banks may use to cover part of their required reserves, adding the government bond identified as ISIN UA4000237564 from 28 October 2025. Banks can continue to meet up to 60% of reserve requirements with eligible benchmark bonds, a mechanism the NBU frames as supporting participation in Ministry of Finance auctions and financing the state budget without monetary financing. The added security was first placed by the Ministry of Finance of Ukraine on 14 October 2025 and brings the benchmark list to 19 issues (UA4000227201, UA4000227490, UA4000228043, UA4000228381, UA4000228811, UA4000229116, UA4000232177, UA4000232607, UA4000232615, UA4000232896, UA4000232912, UA4000233613, UA4000234140, UA4000234553, UA4000234934, UA4000235642, UA4000236418, UA4000236632 and UA4000237564). The updated list was approved by NBU Board Decision No. 392 amending the 23 November 2017 decision and is enacted on 28 October 2025.
National Bank of Ukraine 2025-10-27
National Bank of Ukraine adds ISIN UA4000237564 to benchmark government bonds eligible for banks’ reserve requirements
The National Bank of Ukraine has expanded the list of benchmark domestic government debt securities that banks can use to cover up to 60% of their reserve requirements, adding the government bond ISIN UA4000237564 effective 28 October 2025. This measure aims to support participation in Ministry of Finance auctions and finance the state budget without monetary financing. The updated list includes 19 issues, as approved by NBU Board Decision No. 392.