The
Government has created a mechanism to support commercial banks through participation
in their statutory capital. Prime Minister of Ukraine Yulia Tymoshenko imparted
during the press conference that a respective Ordinance of the Cabinet of
Ministers on the system of recapitalization of commercial banks of Ukraine had been endorsed at its sitting.
“We will be
ready to tackle improvement of capitals of our national banks from the end of
the following week,” the Head of Government emphasized, Government portal informed.
Yulia
Tymoshenko explained in order to receive increase of statutory capital from the
Government in exchange for the part of its shares a bank have to pass special
diagnostic procedures, that notably will determine an amount of supplementary
interests.
According
to the Premier, all the decisions concerning national capitalization of banks
will be approved during a Government sitting in two parts – a decision on
involvement into the statutory capitals of a concrete bank and on conditions of
such participation and amounts of capitalization.
“The Government can boost the capital of banks
at their will and, in such a way, to provide them with an opportunity to
improve effectiveness of their work with customers. I consider it will help the
banks,” Yulia Tymoshenko urged and added that such cooperation is voluntary.
