The sense of the Bank to prepare: the Council gave the go-ahead for nationalization
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On May 29, the Verkhovna Rada voted for draft law No. 9107−1 on the withdrawal of the bank from the market under martial law in the second reading. Danylo Hetmantsev, head of the Tax Committee of the Russian Federation, wrote about this in the Telegram channel.
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What are we talking about?
The draft law concerns the procedure of withdrawal from the market of banks belonging to sanctioned persons in such a way that the termination of their participation in the state banking system does not harm the interests of bank clients and their depositors.
“Regarding the bill itself, as I wrote earlier about the main thing, its purpose is to ensure the stability of the banking system in the conditions of martial law introduced in Ukraine in connection with the military aggression of the Russian Federation against Ukraine, as well as the protection of the rights and interests of depositors and other creditors of banks.”, Hetmantsev wrote.
Read: The Financial Committee re-approved the bill allowing the nationalization of Sens Bank
The initiative is aimed at counteracting risks, in particular by giving the National Bank the authority to make a decision on:
- prohibit a sanctioned person (individual and/or legal entity) from acquiring or increasing a significant stake in the bank;
- o withdrawal from the market of a systemically important bank (nationalization) taking into account the features established by clause 23 of Section X “Final and Transitional Provisions” of the Law;
- On the introduction of the possibility of withdrawing a systemically important bank from the market (nationalization) in the absence of signs of insolvency (when blocking sanctions are applied to the bank or the owner of a significant participation in it);
- On the consolidation of the norm, which provides for the possibility of compensation to persons for the damage they suffered as a result of the liquidation of a bank or the withdrawal of a systemically important bank from the market, exclusively at the expense of the funds of the aggressor state.
Let’s remind
On May 2, the Verkhovna Rada did not fully support draft law No. 9107−1, which improves the procedure for withdrawing a bank from the market under martial law.
Read: How and when Sense Bank will be nationalized
On April 11, the Verkhovna Rada voted in the first reading for draft law No. 9107−1, which will allow the NBU to start the nationalization of Sens Bank (formerly Alfa Bank).
The National Bank of Ukraine wrote and submitted a bill for consideration by the parliament, the adoption of which will allow the state to nationalize Sense Bank.
Author: 
Editor of the news feed Yaroslav Holoborodko Writes on the topics: Macroeconomics, stock market, cryptocurrency
Source: Ministry of Finance
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