The parliamentary committee for finances, tax and customs policy does not plan to discuss government's bill No. 2571 on some issues of functioning of the banking system, the adoption of which is a prior action under the new program of cooperation with the International Monetary Fund (IMF). The committee will work with alternative bill, Deputy Head of the committee Oleksandr Dubinsky said.
«We do not plan to consider it [bill No. 2571]. It needs to be radically changed and an alternative bill should be submitted. This is, in principle, the position discussed with the head of the committee. This bill, which was introduced by the Cabinet of Ministers, not only contradicts the logic, but contradicts, in principle, the legal system and the Constitution. It demands to replace the ownership standards that are laid down in the Constitution by decisions of the National Bank and the Deposit Guarantee Fund,« Dubinsky said.
In his opinion, the authors of this bill, if they work in the National Bank, should be dismissed and they should be prohibited from working in the financial system, since the regulation of legal relations between creditors, depositors, shareholders and banks in the bill is «full nihilism of law.«
Thus, Dubinsky promised to develop an alternative bill, aimed at reducing the role of the NBU in declaring banks insolvent. At the same time, a few weeks ago, the deputy had joined the protesters at the NBU, demanding the dismissal of the NBU leadership.
Together with Ihor Palytsia, Oleksandr Dubinsky is Kolomoiskyi’s key speaker in the parliament. The two are heading the so-called “Kolomoiskyi’s group” consisting of 20 People’s Deputies.
On December 12, the Cabinet of Ministers registered bill No. 2571 in the Verkhovna Rada in pursuance of the IMF terms and conditions. The said bill provides, in particular, to set before the Supreme Court the consideration of cases concerning the withdrawal of banks from the market, the possible recapitalization by the state and compensation for the bank’s insolvency. According to the bill, all the pending court cases on those issues should be referred to the Grand Chamber of the Supreme Court. The bill stipulates that in the event of the bank’s insolvency, its owners may only claim compensation through the court. Such compensation should be calculated with the involvement of the auditors.
In the context of securing the above-mentioned lawsuits, the document, if approved, shall also prohibit to suspend the NBU decisions (regulations or individual acts) as well as to prevent the NBU and its workers from taking certain actions. The NBU will likewise be able to demand changes in the composition of the board or of the management board of the bank, should it consider them ineffective, and to oblige the bank to identify related parties to conduct transactions with them. In accordance with the bill, banks shall be obliged to constantly maintain the level of liquidity and financing sufficient to ensure timely and complete fulfillment of their obligations. At the same time, they should comply with the minimum values of liquidity standards set by the National Bank.