OREANDA-NEWS. The Committee of VR of Ukraine on Finance and Banking recommends that the Parliament should adopt as a basis the draft law on amendments to several legislative acts of Ukraine re activity of the remedial bank/

The bill is aimed at increasing stability of public sector banks activity on account of improving the quality of their assets by transferring to a specialized banking institution rights to claim of these banks under commitment of debtors and/or under securities.        

Particularly, the Law “On Banks and Banking Activity” shall be supplemented with new article 71.

It was also noted that the Cabinet of Ministers, the National Bank and the Ministry of Finance uphold this bill and claim that it is aimed at creating legal framework for managing distressed assets of public sectors banks and at increasing stability of these banks activity.

During the consideration of the draft law, the Committee members emphasized the introduction of additional public control over the remedial bank activity and disclosure of information on its activity.