Economy 2024-03-15T05:17:16+02:00
Ukrainian news
Zelenskyy Approves Specifics Of Withdrawing Systemically Important Bank From Market Under Martial Law

Zelenskyy Approves Specifics Of Withdrawing Systemically Important Bank From Market Under Martial Law

law, bank, President Volodymyr Zelenskyi

President Volodymyr Zelenskyy has signed a law on the peculiarities of removing a systemically important bank from the market under martial law.

This is evidenced by the data on the page of bill No. 8069, Ukrainian News Agency reports.

The document gives the Ministry of Finance the right, at the suggestion of the National Bank, to participate in the withdrawal of a systemically important bank from the market on the grounds that came during the aggression against Ukraine carried out by the Russian Federation.

Nationalization of a systemically important bank will take place through the procedure of classifying the bank as insolvent, but it will not require recapitalization by the state - the sale of the bank for UAH 1 will be carried out regardless of the actual size of the bank's regulatory capital on the day of the NBU's decision.

The Deposit Guarantee Fund will not change the size of the authorized capital of an insolvent systemically important bank, the denomination of shares of such a bank, in particular, it will not exchange monetary obligations of the bank for shares of additional issue.

Instead of exchanging deposits for shares with their subsequent redemption, the state introduces the termination of the obligations of the bank to the controllers and owners of significant participation in such a bank, as well as subsidiary persons with the subsequent crediting of funds for these obligations to the bank's income (the bank's capital also increases).

Compensation of the share price to shareholders (if it exceeds UAH 1 at the conclusion of the audit company) will be possible only after compensation of losses to the state of Ukraine from the Russian Federation and only at the expense of such funds.

As Ukrainian News Agency earlier reported, the Wall Street Journal reported that Russian businessman Mikhail Friedman is ready to transfer USD 1 billion from his personal fortune to the Ukrainian Alfa Bank, which he co-founded, in order to convince the UK to remove sanctions from him.

After that, the head of the Servant of the People faction in the Verkhovna Rada, David Arakhamia, announced the need to increase the capital of Alfa Bank (Ukraine) 2.3 times to UAH 65.3 billion.

In April 2022, the NBU agreed on the trustee of Alfa-Bank (Ukraine) Symeon Diankov, who received the right to vote on shares owned by shareholders whose reputation was recognized as not safe.

Currently, Diankov participates in the management of Alfa-Bank (Ukraine) within the authority.

The U.S. Treasury and the UK Foreign Office said that Ukrainian Alfa-Bank is a separate legal entity that is not related to the Russian bank and is not subject to sanctions.

In July, Alfa-Bank (Ukraine) decided to rename itself to Sense Bank.

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