OREANDA-NEWS. October 16, 2009. The NBU submitted to the Finance Ministry a project for the rehabilitation of commercial banks toxic assets. Namely, the banks regulator suggests that all toxic assets should be transferred to one bank in exchange for securities issued by the relevant bank.

Millennium Capital sees this news as a positive factor for commercial banks, since it will enable the banks to write off toxic assets from their balance sheets thus releasing funds from bad assets reserves for the purposes of operational activities. By our estimates, this will release funds to the tune of around UAH 50bn. Millennium Capital hopes that the NBU intentions are serious and will not be put on hold once the IMF mission leaves Ukraine.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.