The Cabinet of Ministers approved the mechanism of recapitalization of banks

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The cabinet of Ukraine adopted the resolution defining the mechanism of recapitalization of the Ukrainian banks. About it today on a press - conferences were reported by the prime minister - the minister of Ukraine Yulia Timoshenko.

"The resolution provides all system of recapitalization of commercial banks of Ukraine. It is a question that the government created today the mechanism of support of commercial banks", - the prime minister told.

Yulia Timoshenko noted that this mechanism provides entry of the state into authorized capital of separate commercial bank. She is sure that it has to promote improvement of banks. "Because recently banks were compelled by part of the authorized capitals to cover losses which they incurred owing to world financial crisis. And the government now, at the request of banks, this voluntary is absolute cooperation, can strengthen the capital of banks and by that to give the chance to them to work with higher quality with clients", - the prime minister told, having emphasized that it concerns also those clients who have in commercial banks deposits.

In order that the bank had opportunity to increase the authorized capital at the expense of the state "in exchange for part of actions, it is necessary to undergo special diagnostic procedures which can testify, in what state there is a bank, how many for it it is necessary the additional capitals".

All decisions on participation of the state in authorized capital will be made at government meetings. Thus decisions will be made in two stages - the decision on occurrence of the state in authorized capital will be made at first, and at the second stage the decision on conditions, terms and the sum of public funds allocated to commercial banks" will be made.

"As a matter of fact, it everything will happen in full coordination to National bank and according to the government decision. We will be ready to pass to strengthening of the capitals of our domestic banks already since the end of the next week because everything is for this purpose prepared", - the prime minister - the minister emphasized.

We will remind, in the Law "About the State Budget of Ukraine for 2009" it is provided 44 billion hryvnias on recapitalization коммерческ

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