The Ministry of Finance and NBU developed the plan for prevention of non-returns of the credits

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The high probability of non-returns of the credits forced National bank, the Ministry of Finance and banks to develop the joint action plan on restructuring of a debt of borrowers. If participants of the credit market agree with conditions of the corresponding memorandum, NBU can lower for them the standard of adequacy of the capital, and the Ministry of Finance - to provide tax privileges. However, it will extend only on those banks which will sign the memorandum. Such practice is illegal, experts are sure.

The government intends to sign the first memorandum with participants of the financial market, victims of world crisis. Still similar documents were signed only with the companies of real sector of economy: metallurgical, chemical, construction and pharmaceutical companies. Yesterday Ministry of Finance I published the draft of the tripartite memorandum developed following the results of the last meetings of the Ministry of Finance, National Bank (NBU) and commercial banks which has to solve a problem of return of the credits.

The Ministry of Finance demands from banks to go voluntary for restructuring of a debt of their borrowers, having given them opportunity in whole or in part to transfer the credit from foreign to national currency on condition of partial early repayment of the main amount of debt or percent on the credit. It is also offered to banks to grant to borrowers a delay on payment of the main sum of a loan without release from repayment of percent. At early payment of part of the rest of the main sum the bank can exempt from payment of percent on the credit or reduce them, and also transfer a debt from the borrower on the solvent client. Any of these scenarios has to provide cancellation of the commissions and sanctions at early repayment of the credit.

If commercial establishments agree on these conditions, NBU promises to introduce transparent procedure of refinancing of banks, to expand the providing list for its receiving, freely to refinance them on the security of OVGZ, and also to carry the restructured credits to the highest class of risks. Such restructuring can lead to losses of banks and therefore for them can lower step by step the standard of adequacy of the capital from 10% to 8%. Thus the Ministry of Finance promises to develop the bill of reference of such losses on gross expenses of banks for the purpose of decrease in taxable profit during the period from October 1, 2008 to April 1, 2009.

However, unlike the previous memorandums, action of the new will extend only on the credit institutions which have signed it "on condition of performance by banks of the norms provided by the memorandum". In the Ministry of Finance couldn't comment on such scheme, and lawyers consider it illegal. "The law one for all, and the memorandum - the document of optional character which establishes the principles of mutual understanding, - was declared by the managing partner of Lavrinovich and Partners law firm Maxim Lavrinovich. - Any law or the resolution can't extend only on signed the memorandum. Under the Constitution it illegally and can be challenged in court".

Are revolted and in the Association of the Ukrainian Banks (AUB). "AUB which concentrated 95% of a banking system why - that I didn't take part in development of the document. It not system work. The main problem that people who solve nation-wide problems, worry only about local interests", - the president of AUB Alexander Sugonyako noted. Meanwhile and bankers demand to finish the memorandum which will be effective only at stabilization of an exchange rate. "If to shift everything to banks, there will be big problems because everyone has to assume part of risks, - the chairman of the board of "Industrialbank" Leonid Grebinsky considers. - The main thing, it is necessary to clean an exchange difference. For this purpose the state at last - that has to calculate a normal stable course".


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