As it became known, the National Bank adopted the resolution, urged to hold a banking system from crash after in a week the population withdrew $3 billion deposits. Since October 13 of NBU forbids banks to issue ahead of schedule deposits and to increase crediting, having frozen the size of their assets.
For decrease in panic moods of NBU will suggest the president to create from NBU profit Stabilization Fund which will increase guarantees of investors from 50 thousand UAH to 200 thousand UAH. Without such document in the country there would be a train of bankruptcies, bankers are sure, however, in their opinion, it is necessary to take additional measures as the resolution of the regulator can be challenged in vessels.
After consultations on Friday with the president Victor Yushchenko, representatives of the Cabinet and management of the largest banks of the country with which the head of National Bank Vladimir Stelmakh communicated also on Saturday, NBU adopted the resolution which is rigidly limiting activity of banks, participants of meetings reported. The first deputy chairman of NBU Anatoly Shapovalov confirmed adoption of such resolution, but refused to open details. According to available data, the resolution is similar to the measures taken during crisis in November - December, 2004, and, as well as then, isn't registered in Ministry of Justice. The document National Bank has to publish today.
The main restriction of the present resolution NBU - the six-months moratorium on early removal of deposits by investors and a gain of a credit portfolio. "The volume of assets is frozen as of October 13, - explained a source in NBU. - Banks will be able to credit, but within repayment, or to reduce a share of securities in a portfolio". In NBU note that, unlike the resolution of 2004, didn't write directly - "to forbid to issue deposits" because, according to the Civil code, the investor has the right ahead of schedule to take away the deposit. "But we registered that "performance by banks of obligations under contracts on attraction of financial resources before the termination of term of full implementation of obligations irrespective of category of the contractor" isn't allowed, - told other source.- That is irrespective of from whom took money, in Ukraine or abroad, it is forbidden to fulfill these obligations ahead of schedule". In case of reduction of liabilities of banks, their management will have to address first of all to shareholders, and already then in NBU - for refinancing.
To resolute actions of NBU the panic among the population which the beginning in large quantities to remove deposits from all banks pushed, strengthened by information attack to Prominvestbank to which NBU is compelled was to enter temporary administration. According to one of participants of a meeting at mister Stelmakh, only in eight last days deposit portfolios of banks decreased by $3 billion (for October 1 the portfolio made 340,1 billion UAH, or $69,96 billion).
"The panic among the population which sees began that banks in America and Europe go bankrupt every day. It is a lot of provocations when information that this or that bank the bankrupt is told. And at the president it was declared that noncompetitive fight is conducted, - Anatoly Shapovalov cleared a situation. - It is possible to tell that liquidity of our banking system "double": 21 billion UAH are on corresponding accounts, from them reserves - 12,9 billion UAH, in 5 billion more UAH is sterilized by deposit certificates. It is impossible to tell that our banking system experiences such crisis of liquidity, as in other countries. On Monday there is a resolution which stabilizes a situation and will remove stress".
The National Bank considered also the latest events in the currency market - the cash course to hryvnia to dollar devaluated in a month for 20%. "In the resolution there are things which in 2004 wasn't, - told a source in NBU. - Conversion accounts are limited to only the first group that there were no speculative operations of the translation from dollar in euro, from euro in ruble". "Dollars can be placed in Europe, and euro - in the USA and so on, but not in any unclear countries, - other official supplements the colleague. - It is made in order that, let us assume, placing dollars in Moldova, the bank didn't assume besides risks of the American dollar also risks of Moldova". The difference between selling rates and currency purchases in exchange offices won't have to exceed 4-5% (the norm is offered NBU on Friday). According to available data, restrictions were initially planned for a month.
Bankers consider that if NBU didn't take emergency measures, there could be a bankruptcy of a huge number of banks. "Investors already understood nothing.And if there are mass withdrawals on all banks, no banking system" will resist, - the vice-chairman of board of Finance and Credit bank Sergey Borisov declared. "Continuation of an excessive demand of the population which would try to remove deposits and to convert them in dollars, would lead to extremely serious loss of gold and foreign exchange reserves of National Bank and system assets", - the director of Institute of economy and forecasting of NAN of Ukraine, the member of council of NBU Valery Geets explains. Sergey Borisov is sure that banks in a situation of freezing of deposits shouldn't reduce percent on contracts.
Thus experts not against crediting restriction. "Now the question of building of assets for banks isn't basic, and the share of the market interests nobody", - Sergey Borisov is sure. He considers that within repayment of the given-out loans banks will credit both the enterprises, and the population, but will even more toughen requirements to borrowers, reducing risks. "To give out only the consumer credits silly and dangerously, instead of to credit under specific needs it is impossible", - mister Borisov explains. "For September the banking system gave out 18 billion UAH of the credits, and in the conditions of world crisis when all reduce crediting, it is abnormal and dangerous", - the chairman of the board of Oshchadbank Anatoly Guley considers. In his opinion, in two weeks the currency market is stabilized, and in a month the panic at the population will disappear: "Now a situation predicted, and we are quiet, and for us this most important".
However, action of the resolution can be stopped by investors or contractors of banks. "Such was in 2004 therefore NBU have two - three months to take other measures which will calm a financial system, - Valery Geets speaks. - NBU, Cabinet of Ministers and the Verkhovna Rada need to unite urgently for resolution of crisis which is much more difficult than that was four years ago. On the political financial, economic and world crises" are imposed.
As reported in NBU, the resolution will be discussed today by the National Security and Defense Council and becomes a basis of the decree of the president "About additional state guarantees of savings of the population" which has to be signed on Wednesday. "We assume creation of special fund within the state budget, - told a source in NBU. - We offer that the fund was formed of excess of the income over expenses of NBU. And that I could use money of this FGVFL fund on surcharges to all citizens of additional 150 thousand.UAH within guaranteeing deposits. FGVFL will be the operator of this money".