AUB: Negotiations with EU on free trade zone under threat

The bill № 0884 "On amendments to some laws of Ukraine (for the regulation of banks) did not meet the standards of the EU and Ukraine could harm negotiations with the EU. On this question in a letter to the President of the Association of Ukrainian Banks Oleksandr Sugonyako to the Minister of Justice Oleksandr Lavrynovych, the press service of AUB. According to the Association, this document should be withdrawn from consideration by the Verkhovna Rada and finalized in accordance with the requirements of EU legislation. In AUB believe that some rules of the bill could adversely affect compliance with competition in the banking market and will have devastating consequences for the "small" and "secondary" banks, as well as increase the concentration of financial risks. "To date, only 50 of nearly 180 Ukrainian banks have capital of more than 500 million UAH. Given the current situation and practices, we can assume that the sum of 500 million UAH (45 million euros) will be required by regulators as the minimum capital requirement for existing banks. Now the regulator already requires banks to have improved their regulatory capital to a size that exceeds the law for the creation of new banking institutions ", - said Alexander Sugonyako. Recall the other day AUB appealed to the European Commissioner for Enlargement and European Neighbourhood Policy, Stefan Fule a formal request to comment on the standards bill number 0884 for compliance with EU standards. On materials FINANCE.UA