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Ukrainian Parliament passes law on accelerated banks' capitalization procedure
30.12.2014 09:24 "Agro Perspectiva" (Kyiv) —
The Ukrainian Verkhovna Rada adopted the bill on measures to facilitate banks’ capitalization and restructuring (¹1564), which is part of the government-introduced reform package and edited with the parliamentary coalition, Government Portal reports.
As to the report, presenting the bill in the Parliament, the Ukrainian Prime Minister Arseniy Yatseniuk stressed that one of the key problems of today’s Ukrainian financial and economic system is the banking sector.
«Due to the devaluation of the national currency, confidence in the national banking system has been undermined. It is objectively related to military actions and Russian military aggression. Millions of Ukrainian citizens who have their deposits in the banking system, went to take them off, as they are not sure that tomorrow they will be able to get these funds from the bank,» the PM said.
As to him, the current legislation involves "procedures of banks’ capitalization, which will last for months.
"Instead, the Government proposed the bill ¹1564 which provides «prompt and quick decision making regarding capital inflow into banks and the Deposit Guarantee Fund and guarantees to the citizens of Ukraine to obtain the funds they have on their deposits within the limits prescribed by law,» Yatseniuk emphasized.
Reportedly, Yatseniuk admitted that banks’ capitalization will be carried out publicly.
«This will send a clear message to all shareholders and especially depositors in banks that the banking system is able to get through this difficult period of the year 2015,» the PM stressed.
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