DECISION OF EXECUTIVE DIRECTORATE OF FUND OF GUARANTEEING HOUSEHOLD DEPOSITS OF UKRAINE

of March 18, 2016 No. 370

About approval of Changes in Regulations on conclusion of insolvent bank from the market

According to Item 10 parts one, to Item of 1 part five of article 12 of the Law of Ukraine "About system of guaranteeing household deposits" the executive directorate of Fund of guaranteeing household deposits SOLVED:

1. Approve Changes in the Regulations on conclusion of insolvent bank from the market approved by the decision of executive directorate of Fund of guaranteeing household deposits of July 5, 2012 No. 2, registered in the Ministry of Justice of Ukraine on September 14, 2012 for No. 1581/21893, which are applied.

2. To provide to department of strategy and normative and methodological providing together with legal department submission of this decision to the Ministry of Justice of Ukraine for state registration.

3. This decision becomes effective from the date of, its official publication following behind day.

4. And the international organizations to provide to department of public relations placement of this decision on the official page of Fund of guaranteeing household deposits on the Internet after its state registration.

Approved by the Decision of executive directorate of Fund of guaranteeing household deposits of Ukraine of March 18, 2016 No. 370

Changes in Regulations on conclusion of insolvent bank from the market

1. To add Item 2.1 of Chapter 2 of the Section I after the paragraph of the thirteenth with the new paragraph the fourteenth the following content:

"The organization of realization of property of the liquidated bank, - the measures taken by Fund for pre-sale preparation, repair, completion, implementation of developer projects, withdrawal from property of separate details, unsuitable for operation, nodes, aggregates, etc. for their further realization, assessment, the choice of method, procedure for forming of lots (including consolidation of assets of several banks) and property acquisition conditions by adoption of relevant decisions which implementation is assigned to the authorized person of Fund on liquidation of bank;".

With respect thereto the fourteenth - the thirty seventh to consider paragraphs respectively paragraphs the fifteenth - the thirty eighth.

2. In the Section II:

1) in Chapter 1:

in Items 1. 1.4 words to "the skilled investor bank (the accepting bank)" shall be replaced with words 3, to "the winner of open tender";

in Items 1. 1.6 words to "the skilled winner investor" shall be replaced with words 5, "to the winner opened";

2) in Chapter 2:

exclude Item 2.2.

With respect thereto Items 2.3 - 2.6 to consider respectively Items 2.2 - 2.5;

be reworded as follows Item 2.2:

"2.2. Monitoring is carried out by Fund in the way:

appointments of employees of Fund into which power carrying out monitoring of observance by bank of requirements of procedure for forming and maintaining databases about investors is included, carrying out banking activities by bank, including information collection and copies of the documents necessary for preparation of the draft of the settlement plan, ensuring evaluating assets of bank according to the procedure, established by Fund (including credit debts before bank, availability and cost of ensuring obligation fulfillment according to credit agreements, debt on the securities which are in property of bank, requirements of bank to the client on cancelled debt and availability and cost of ensuring accomplishment of the obligation on such debt, etc.);

receipts of information from clients, investors and other creditors of bank for the purpose of accomplishment of the functions and powers assigned to Fund;

receipts of copies of documents and databases.

Monitoring is carried out according to the procedure, established by regulatory legal acts of Fund.

The fund also has the right:

receive the reporting from problem bank according to the Law and regulatory legal acts of Fund;

participate in inspection checks of problem banks (according to the separate verification plan constituted by Fund) according to the petition of Fund and/or for the offer of the NBU;

carry out unscheduled inspection for the purpose of information collection on other questions of activities, than are provided in part one of article 32 of the Law which list affirms executive directorate of Fund.";

Item 3.2 of Chapter 3 to be reworded as follows 3):

"3.2. The temporary administration is entered for the term which is not exceeding one month. In case of conclusion of insolvent bank from the market by the method provided by Items 3 - 5 parts two of article 39 of the Law, temporary administration can be prolonged for a period of up to one month. In case of conclusion of insolvent bank from the market by the method provided by Items 1, 2 parts two of article 39 of the Law, the term of temporary administration can be prolonged for five days with the termination no later than day of receipt of the decision on withdrawal of the banking license and liquidation of bank.

In case of compliance of bank to criteria, stipulated in Item 2.12 Chapters 2 of the Section IV of this provision, executive directorate Fonda approves the settlement plan in which it is specified that the least costly method of removal of bank from the market is the method, of stipulated in Item 1 article 39 of the Law, and submits to the NBU the proposal on withdrawal of the banking license and liquidation of such bank. In that case the temporary administration stops in day of receipt of the decision on withdrawal of the banking license and liquidation of bank.";

4) in Chapter 4:

the paragraph one of Item 4.17 to be reworded as follows:

"4.17. During implementation of temporary administration by Fund or the authorized person of Fund on temporary administration in case of delegation to it powers of Fund from among persons elected by Fund for performance of works (rendering services) to insolvent banks or banks which are liquidated such persons according to regulatory legal acts of Fund can be involved.";

in Item 4.18:

word in paragraph one to "the skilled investor" shall be replaced with words to "previously qualified persons allowed to participation in open tender";

exclude paragraph two.

3. In the Section III:

1) in Chapter 1:

add Item 1.6 with the paragraph of the following content:

"Life and health of the authorized person of Fund are insured against accidents.";

in Item 1.19:

in the paragraph the second shall be replaced with words the words "together with the auditor(s) candidate" "after election of the auditor(s) as Fund according to the procedure, established by regulatory legal acts of Fund";

third to be reworded as follows the paragraph:

"The authorized person of Fund on temporary administration involves the auditor(s), determined by Fund for such bank, within expense budget, connected with implementation of temporary administration.";

paragraphs two, third Item 1.26 to be reworded as follows:

"Can involve the auditor(s) to carrying out inventory count of property of bank on condition of adoption of such decision by executive directorate of Fund;

can attract to assessment of assets of insolvent bank of subjects of estimative activities;";

be reworded as follows Item 1.28:

"1.28. The fund or the authorized person of Fund on temporary administration (in case of delegation to it appropriate authority) constitutes and provides in Fund the modified balance, the copy of the minutes of inventory-taking group, the list of assets and liabilities of insolvent bank certified by signatures of Fund on behalf of the relevant structural division of fund or the authorized person of fund on temporary administration (in case of delegation to it appropriate authority) and the chief accountant and seal (in the presence) of insolvent bank, will be part of information packet which is provided to previously qualified persons.";

exclude Item 1.31.

With respect thereto to consider Item 1.32 Item 1.31;

to be reworded as follows paragraph two Item 1.31:

"To previously qualified persons included in the list which is created by the NBU with indication of the electronic link to the announcement published on the official page of Fund on the Internet - no later than the next working day after the publication on the official page of Fund on the Internet of the corresponding announcement;";

2) in Chapter 2:

to add Item 2.1 after the paragraph of the fourth with the new paragraph the fifth the following content:

"No later than three working days from the date of the beginning of the procedure of conclusion of bank from the market makes the decision on compliance/discrepancy of the bank referred to category insolvent, to the criteria established by this Provision on analysis results of the reporting of such bank NBU".

With respect thereto the fifth - the seventh to consider paragraphs respectively paragraphs the sixth - the eighth;

add Item 2.2 with words ", except as specified compliance of insolvent bank to the criteria established by this Provision or removal of bank from the market with participation of the state";

Chapter 3 to be reworded as follows 3):

"3. Preparation of the settlement plan and the choice of method of conclusion of insolvent bank from the market

3.1. The fund starts plan development of settlement in day of introduction of temporary administration.

3.2. The fund determines the method of conclusion of insolvent bank from the market which is subject to approval of Fund by executive directorate in the settlement plan.

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