LAW OF UKRAINE

of December 28, 2014 No. 78-VIII

About the measures directed to assistance of capitalization and restructuring of banks

This Law is directed to protection of economic safety of the state, the rights, freedoms and legitimate interests of citizens, creation of conditions for ensuring stable activities of banks of Ukraine, strengthening of financial capability of bank system of Ukraine and minimization of negative impact of difficult economic situation, in particular, owing to temporary occupation of the territory Ukraine and conducting anti-terrorist operation.

Article 1

1. The bank which by results of the diagnostic examination conducted at own expense with attraction of one of the auditing firms determined by the National Bank of Ukraine upon the demand of the National Bank of Ukraine by the technique determined by the National Bank of Ukraine needs additional capitalization (further - bank) shall perform capitalization of bank and/or restructuring, reorganization of bank for the purpose of ensuring compliance with indicator of capital adequacy of the first level by bank in the amount of at least 7 percent taking into account need of observance of the standard rate of sufficiency (adequacy) of the regulatory capital in the amount of at least 10 percent and indicator of capital adequacy of the first level in the amount of at least 4,5 of percent calculated according to basic and pessimistic macroeconomic scenarios respectively for 2014-2016. Capitalization and/or restructuring, reorganization of bank shall be carried out in time, determined by the National Bank of Ukraine taking into account the features established by this Law.

2. The bank in time established by the National Bank of Ukraine and according to its requirements shall submit for approval to the National Bank of Ukraine the program of capitalization of bank or the restructuring plan of bank.

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