Yushchenko signed the law on improvement of banks

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The president Victor Yushchenko approved adopted by the Verkhovna Rada on July 24 the law "About Modification of Some Acts concerning Features of Realization of Measures for Financial Improvement of Banks".

The press is told about it - services of the President in the message.

This law provides, in particular, introduction of the simplified order of reorganization of banks, transfers of their assets and liabilities, reduction of authorized capital of bank at implementation of the plan of financial improvement within procedure of temporary administration.

Along with it, the interim administrator of bank can for the purpose of bank capitalization with the participation of the state in coordination with NBU make the decision on increase or reduction of authorized capital of bank.

The law establishes a special order of reduction of an authorized capital of bank in case the size of its capital less authorized capital and is planned participation of the state in bank recapitalization.

"It is provided that, unlike the general order, such reduction of the capital doesn't demand a consent of creditors and doesn't involve right emergence to demand the early termination or implementation of the corresponding obligations from them and compensation of losses by it", - is spoken in the explanatory note.

The law also provides that exchange of information between NBU and the Ministry of Finance concerning banks in which recapitalization the state takes part, is carried out without taking into account an order of disclosure of bank secret.

In addition, the law provides creation of so-called Sanatsionny bank.

In particular, according to the document text, the Cabinet on the representation of National bank coordinated with committee of Rada concerning finance and bank activity, can create the Sanatsionny bank which isn't the participant of Fund of guaranteeing deposits of natural persons.

The main objective of such bank is protection of interests of investors and creditors of banks.

The bank gets sanatsionny status after delivery of NBU of the corresponding license.

To interim administrators of problem banks the right during improvement of financial establishments to transfer them for this purpose is provided to Sanatsionny bank.


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