The Ukrainian leader signed the law on the nationalization of systemic banks in the conditions of war

15:35 26 October Kyiv, Ukraine

On October 26, Volodymyr Zelenskyy signed a law (No. 8069) on the specifics of withdrawing a systemically important bank from the market under martial law.

This was reported on the website of the Verkhovna Rada.

According to the co-author of the bill, Deputy Chairman of the Finance Committee of the Council Yaroslav Zheleznyak, the law comes into force one day after its publication.

Recall that the law was adopted by the Rada on October 7.

The document provides that the nationalization of a systemically important bank will take place through the procedure for classifying the bank as insolvent, but will not require additional capitalization from the state - the sale of the bank for 1 hryvnia will be carried out regardless of the actual size of the bank's regulatory capital on the day the NBU makes the relevant decision.

The Fund will not change the size of the authorized capital of an insolvent systemically important bank, denominate the shares of such a bank, and will not exchange the bank's monetary obligations for shares of an additional issue.

As you know, 14 financial institutions are included in the list of systemically important banks. Among them are Oschadbank, Privatbank, Ukrgasbank, Ukreximbank, UkrSybbank, Raiffeisen Bank.