Transparency of the banking system improved?

Experts believe that the transparency of the banking system of Ukraine will increase as a result of enactment of the Law of Ukraine "On amending some laws of Ukraine" (regarding the regulation of banks), adopted by the Verkhovna Rada of Ukraine on 15 February. g. As noted in UNIAN comments member Council of Entrepreneurs under the Cabinet of Ministers of Ukraine, the former head of the advisory group to the National Bank of Ukraine Viktor Lissitzky, the level of transparency of Ukrainian banks have to increase significantly after the introduction of amendments to the Law "On Banks and Banking". In his view, the banks - this is the social institution, which should closely controlled society and the controller, represented by the National Bank should have the appropriate authority for such monitoring. "Today, the authority of the NBU is higher than that of other regulators of the market", - said V. Lissitzky. In view of this expert commends allowed National Bank the right to obtain and verify information on the business reputation and financial status of the founders and owners of banks (in accordance with changes to the art. 34 of the Law "On Banks and Banking Activity"). Also V. Lissitzky welcomes the amendment to Art. 56 of the Law "On Banks and banking, which requires banks to "permanently placed on the website of the bank to-date information about the owners a substantial stake in the bank." As noted in the commentary UNIAN Head of Analysis and Research "Raiffeisen Bank Aval Dmitry Sologub, disclosure of ownership banks - a positive fact, and the need for such a move was discussed in the banking community long ago. "Improving transparency of the banking system of Ukraine is one of the requirements of international financial institutions, in particular, the International Monetary Fund", - said the expert. According to D. Sologub, this provision will allow National Bank to strengthen supervision of banks in order to prevent abuses such as lending to related parties. That, in turn, will contribute to the stability of the banking system. Recall, presenting the BP bill "On amending some laws of Ukraine" (regarding the regulation of banks) Deputy Head of the National Bank of Ukraine Igor Sorkin said his goal is to introduce procedures to identify the real owners of the banks and the establishment of special requirements for them. The other goal is to document implementation of the legislation of Ukraine Core Principles for Effective Banking Supervision Basel Committee and the provisions of the Directive (2006/48/ES ) of the European Parliament on the establishment and further implementation of the activities of credit institutions in terms of ensuring a transparent ownership structure of banks. According to Mr. Sorkin, the rules of law "will not prevent the establishment of banks with non-transparent ownership structure and strengthen the responsibility of the owners of the banks for their financial condition." These changes According to the representative of the NBU, "are essential to protect the interests of depositors." As UNIAN reported earlier, on Feb. 15, 2011 the Verkhovna Rada of Ukraine adopted the Law "On Amendments to Some Laws of Ukraine" (regarding the regulation of banks). The law provides for the increased demands to the bank's authorized capital from 75 to 120 mln. The law also established that during the creation of a bank National Bank receives full details of all the founders of the bank, regardless of the stakes in the authorized capital, with respect to ownership structure, business reputation, and financial condition. establishes requirements the financial condition and business reputation of the owners. implement codes, which obliges the owners of the bank during the whole period of ownership of shares in the bank meet the requirements established by law. The law also provides for the obligation of banks to disclose information about the owners substantial participation in the bank through the publication of periodicals publications or posting on the Internet. The National Bank is also empowered to place on his official Web site of information about the owners a substantial share in the banks. Source: unian.net