The Committee on Finance, Taxation and Customs Policy recommends to adopt the draft law on improving the mechanisms of withdrawing banks from the market and meeting the requirements of creditors of these banks

Information Department of the Verkhovna Rada of Ukraine Secretariat
Published on 18 June 2021, at 17:03

The Committee on Finance, Taxation and Customs Policy considered the draft law on improving the mechanisms of withdrawing banks from the market and meeting the requirements of creditors of these banks (No. 4546).

The draft law proposes to improve some issues of compensation for damages (losses) related to the bank, including by providing for the possibility of concluding by the Deposit Guarantee Fund of individuals an agreement on voluntary compensation for such damage (losses) or an amicable agreement, mechanism for returning funds to former creditors of the bank after its liquidation, exemption from court fees, state duties, fees in the field of state registration. In addition, the draft law clarifies some procedural aspects of withdrawal of an insolvent bank from the market, liquidation of banks, powers of the DGF, its bodies, the mechanism of legal protection of employees of members of the administrative board of the fund, etc.

The Committee on Finance, Taxation and Customs Policy recommends to adopt the draft law on improving the mechanisms of withdrawing banks from the market and meeting the requirements of creditors of these banks.

Also in the second reading was considered the draft Law "On Amendments to Certain Legislative Acts of Ukraine on Improving the Organization of Corporate Governance in Banks and Other Issues of the Functioning of the Banking System".

The draft law is aimed at improving the regulation of banks and banking groups, the organization of corporate governance and risk management systems in banks.

The MPs supported the wording of the bill taking into account the results of discussions and votes at the Committee meeting, as well as taking into account proposals: 1035, 1148, 1168, 1169 (partially) and 1170. The Committee recommends to the Verkhovna Rada to adopt the draft law in the second reading and in general.