The Verkhovna Rada of Ukraine registered a draft law on certain measures for financial stability of credit unions. Bill № 8497 from 12.05.2011 referred to the Committee of People's Deputies of OU Oksana Bilozir. The bill proposes to provide state support to credit unions that are affected by the global financial crisis and unable to meet obligations to its members, by issuing long-term interest-free loan. It is assumed that the size and period for which the loan was issued will be determined by a specially authorized executive body in the regulation of financial services markets on the proposal of the Board of the credit union, approved by the Supervisory Board of the Union, to which was attached the relevant feasibility study. In addition, the bill provides that where a decision is not appropriate, or the inability of financial recovery of the credit union, the state pays compensation to depositors of the credit union in an amount corresponding to the size of the debt for his contribution, but no more than the amount established by the Ukrainian Law "On guaranteeing deposits of individuals . As stated in the explanatory memorandum, the bill will help protect the property rights of Ukrainian citizens, the restoration of public confidence in the activities of credit unions that will raise lending citizens of Ukraine to revive the economic activity of manufacturing and trading enterprises.
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