In the Ukrainian banking sector has occurred a significant event, of which the expert community spoke very long time - the National Bank of Ukraine, finally started to clean up the banking sector from the "troubled" assets. To begin the discussion submitted to the establishment of the bank's bad assets. This was recently the deputy head of the NBU Igor Sorkin. He stressed that establishment of such institutions to overcome the crisis of distressed assets is quite common international practice. "Such an approach to improve the banking system, in our opinion, will reduce the burden on capital, reduce the amount of time, money and effort required for the maintenance of distressed assets, will provide banks the opportunity to return to normal operation and focus on its core functions, especially in lending to the economy "- said Sorkin. According to NBU, if before the crisis, the share of problem assets was 2.5% as at 1 April 2011 it reached 15% of banks' assets. accumulated bad assets adversely affect the regulatory capital of banks hamper the resumption of lending to the economy and are a significant obstacle to economic growth and enhancing the investment attractiveness of the country. The problem of the bad assets in one degree or another, is typical for the vast majority of countries with market economies. Alas, the impact of the financial and economic crisis in 2008 are still being felt everywhere. That's the only difference from other countries , Ukraine, until recently, the issue hardly dealt with. In the end, what is the objective and subjective reasons: there was an acute political struggle has not been a unified state policy, while the head of the NBU was Stelmakh, a man so wise life experience of what to expect away any sharp, reformist and potentially conflicting steps, it would be overly optimistic. But times have changed. And many times it is on this issue, as the main obstacle to attract serious foreign investment, focused, and representatives of international financial institutions - the IMF, WB, EBRD. Drive and the other arguments: "littered" the banks - a significant brake on the economy. This lack of lending industry and social programs, it's leveling the participation of banks in mortgage projects and much more in the economy. In March of this year, the World Bank has already directly stated that he supports the idea of ??creating a Ukrainian bank non-performing assets. This idea was denounced to the Ukrainian expert community project coordinator, World Bank in the financial sector in Ukraine, Belarus and Moldova, Marius Vismantas during the round table. "" We see the meaning of a "bad" bank or SPV, or any other legal structure that has worked with bad assets. I personally see the meaning of separation of good from bad ... These two areas require very different approaches, and we see the meaning of separation of bad assets from good banking institutions. "It seems that the Europeans have finished your patience. And then there's the National Bank and hinted that he no longer wants to turn a blind eye to this problem. It will be implemented National Bank Initiative - time will tell. But judging by the statements already made, the mechanism is seen as follows. First of all, there is a desire to get feedback from the expert community and the interested public about ways to resolve the situation with the assets. The approach is quite sensible and competent. In 2009 year, when these questions were just as keenly as now, the very absence of normal peer initiatives and assessment, coupled with the reluctance of the National Bank to make sharp movements, the two-year freeze as needed throughout the banking sector reform. Today, the National Bank seems to be ready to hear from the experts and bankers, their vision problems. The main thing now, to the willingness of bankers and expert environment for innovation. It is clear that many of the models, primenyamyh in the world, the NBU is inclined to create a new structure - the Bank of the bad assets, or "remediation" of the bank. It is It is clear that the new bank will be very different from their counterparts on the market. In fact, this institution will be a "bank" in name only. The function of this "orderly forest" should be in one - as soon as possible to clean the system and allow it to restart. This model has a slightly different form, but is close in fact, been successfully applied in Sweden. However, there are nuances and complexities, which happen to encounter the NBU and remediation to the bank. The main problem - is to ensure the transition of the bad assets into a new financial institution. It is clear that billions of Ukraine has to purchase at par or even at a discount, but for the "live" money in the stock no. World Bank, as already mentioned, supports the solution to the problem of bad assets. But it is unlikely he will be able to credits for all transaction. His methodological and advisory support has to be an invaluable help. The irony is that enormous sums to purchase the assets may not be needed. Again, if you resort to international experience and, above all, the already mentioned - Swedish. You can release the public securities: bills, bonds, certificates, which will replace the bad assets. In 2009, the National Bank, after a series of "round" table and a series of expert discussions have already made their proposals to the Cabinet of Ministers. But on the eve of presidential elections, such "trifles "Government is not too worried. However, there are other options. Because the resources needed in the new bank if it will buy the bad assets from troubled banks. If we use a scheme in which the Bank will be transferred assets, together with adequate part of the obligations, then the money to pay the bank does not need, and with bank creditors, liabilities are translated at the institution, will need to negotiate a restructuring of these obligations. Of course, the question arises, what to do with the bad assets transferred to the remediation Bank. But this is though extremely important, but secondary in importance the problem of having, in each case an individual decision. For example, in situations where the problem asset is the object under construction, you can organize public financing completion of construction in order to sell it to normal market price. Part of the collateral at the moment can not be sold at adequate prices, but you can rent. That is possible to organize work effectively with distressed assets, but most of this takes time, which banks experiencing liquidity problems and as a consequence, the economic standards of NBU, as well as in the regime of the interim administration, has not and can not be. However, we are not now on the disposition of assets, which, of course, also important, since it would settle with the creditors (including large whose interests are not taken into account during the liquidation of the bank and payments from the Deposit Guarantee Fund), troubled banks. The essence - in the changes that occur throughout the banking industry. Peeled "bad" assets and outstanding liabilities on deposits, reorganized banks can continue to operational activities. Such a bank is much easier to sell to a new owner who will recapitalize and restore its normal functioning. Interest in Ukrainian banks with foreign investors now have, but buy "raw" troubled banks willing enough. In summary, we can make a major conceptual conclusion: of the National Bank of Ukraine to establish a remediation of the bank to consolidate the bad assets and cleaning the banking sector - a very timely and necessary for the entire Ukrainian economy. The creation of such an instrument of state policy in the financial sector, will bring rapid, positive results. Banking cleared. The balance will be given in proper form, and the huge sums involved in a mandatory additional redundancy for the bad assets, will release and can be directed to various programs. Most of the banks will restore normal operation, the units - at a much more simplified than today, the system will be safely withdrawn from the market. disappear major obstacle to the resumption of investment programs that were curtailed or suspended foreign partners and international financial institutions after the crisis began in 2008. This is quite clearly already been expressed by representatives of World Bank and IMF. Finally, the undoubted benefit of the National Bank policy will bring the assets, most of which actually make loans under the still existing enterprises, their equipment, finished and unfinished objects of commercial and residential real estate, etc. In essence, the problem of the enterprise will receive a new impetus and opportunity to solve their financial difficulties. Thus, we can say about the benefits of a remedial bank not only for banking but also for the economy as a whole. It only remains to develop a unified mechanism which would take into account the views and interests of the state, investors, bankers and customers. And thus, would not sacrifice anything for the sake of one any target group. On materials FINANCE.UA
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