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NBU toughens responsibility of investors for realization of bank readjustment plans

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NBU toughens responsibility of investors for realization of bank readjustment plans
Photo: Konstantin Melnitskiy

The National Bank of Ukraine has amended its resolution on punishment for violation of banking laws, toughening responsibility of investors for the implementation of financial readjustment plans of bank capitalization programs.

According to a posting on the central bank's website, the decision is stipulated in NBU resolution No. 32 of January 17, 2015.

The amendments have been drawn up, taking into account amendments made to Ukrainian law.

The resolution, among other things, expands a list of grounds for punishing banks: the grounds include proposals of banks' curators to apply the above-mentioned measures.

The NBU also obtained the right to demand the termination of powers of a member of the bank's board or the holding of an extraordinary general meeting of the banks' boards.

The document also expands the list of criteria for putting banks on the list of troubled banks.

The central bank also increased the fine for tampering statistics by banks by 10 times: 1,000 non-taxable minimums could be collected from banks (today the minimum amounts to UAH 17), while earlier it was only 100 taxable minimums.

Source: Interfax-Ukraine

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