The state Bered "under my wing" Finansovye institutions! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

The state Bered Distressing situation of many banks is becoming more public. Shareholders of several financial institutions ready to accept the state. Here only it is not clear who...State the roofDistressing situation of many banks is becoming more public. Shareholders of several financial institutions ready to accept the state. Here only it is not clear who is the national Bank or the Cabinet - take control of shareholders of Ukrainian banks and how much money you will need to spend on their recapitalizationThe government first publicly introduced measures for recapitalization of the banking system. The idea of additional support for banks was discussed in the National Bank and in the government House since October 2008, when Prime Minister Yulia Tymoshenko has publicly announced: the objectives of the recapitalization, the Finance Ministry is ready to allocate almost $5 billion. However, until recently, it was unknown whether the recapitalization program apply only to state banks.At the moment more than 15 Ukrainian banking institutions are experiencing serious financial difficulties, eight of them entered temporary administration. Although long term, the state has still not recapitalized none of the banks, although the measures were stipulated in the agreements with the International monetary Fund (IMF), and in the 2009 budget for this purpose laid 44 bln. Just last week, the government removed all doubt by declaring: discussed the issue of providing additional capital, including non-governmental credit institutions. Thus, the partial redemption of the banking system is open.The complexity of understandingBack in December of last year, according to the results of diagnostic tests conducted on the initiative of the National Bank, the need for a capital increase of seventeen of the largest banks, which account for 66% of the active operations of the banking system, estimated at 25 billion USD. However, the fact that after checking the first group of banks for their recapitalization is still not implemented, indicates problems in the harmonization process between the NBU and the Cabinet of Ministers.Only last week, "looking" for banks from the government first Vice-Premier Oleksandr Turchynov said on simplification of the procedure of entering of the Cabinet of Ministers in the capital of commercial banks, approved by resolution No. 960 dated 4 November."We abandoned the old principle that participation in the capital of financial institutions is possible only by the actual nationalization. Now we have a different approach: if a powerful local Bank needed assistance, the state may participate in its capital as a minority shareholder with, say, 10% interest, but really, it's just not simple, and preferred shares that give owners the right to priority receive dividends at a fixed rate regardless of the level of profit earned by the Bank," he said.Another innovation will become the norm, allowing shareholders to repurchase from the state of the sold shares, the old shareholders will have a priority right. The government also does not hide the fact that the easing of the terms of the recapitalization will allow the state to have more control over banks receiving support.Meanwhile, for large banks, the NBU is preparing its proposals for the recapitalization. However, an alternative assistance from the NBU is possible only in the form of refinancing in an amount not exceeding the amount of the regulatory capital of the Bank. The acting head of the NBU Anatoly Shapovalov has already stated that in the near future the national Bank will provide an additional financial institution about 7 billion USD. refinancing.He said that currently, the design of collateral under him. To date, the debt refinancing in front of the national Bank have already 135 banking institutions in the amount of 67 billion USD. when the amount of the outflow of funds from banks in the amount of 75 billion USD. But in accordance with article 86 of the law on state budget for 2009, the national Bank is obliged to reconcile the policy of refinancing of banks with the Cabinet of Ministers, than with strongly disagree at the IMF.Demonstration performanceIn the near future, experts predict an increase in the number of applicants for state "roof". This week the government was ready to demonstrate the first partial nationalization of the Ukrainian Bank. The applicant has been kept secret, but in banking circles is called Rodovid Bank.Besides the extraordinary shareholders ' meeting of Rodovid Bank, held on February 25, it was decided to transfer to state ownership of at least 50% 1 of the shares in the authorized capital of the Bank. "If the government will approve the repurchase of shares of Rodovid Bank, this will be a first in Ukraine, - says the analyst Yaroslav Stetsik. In Western practice, partial nationalization of the financial institution gives almost a 100% guarantee of its financial recovery and successful development in the future.What will be the consequences of the recapitalization in Ukrainian" while it is unclear. Today the level of public confidence in banks remains at a fairly high level, but the image of financial institutions with solvency problems can alienate customers, who can continue to collect the funds from the Bank, which will reduce the effectiveness of the recapitalization".According to rumors, being prepared for nationalization and troubled Nadra Bank and Ukrprombank. In any case, the recapitalization will provide banks with additional funds they need, which should positively affect their solvency.Rhetorical questionsHere are just scarce liquidity not all will get to those in need. All the money that banks receive from the state, according to government officials, will promote the six major industries: agriculture, mechanical, automotive, retail, real estate development and construction. Officials are not conducting the selection of specific projects for lending, but explain that money is to be spent to stimulate the economy. And here the question arises: were the priorities set right, and which industries need government support and money?In addition, to obtain state support in the form of injections of capital can only one commercial Bank, which belongs to the category system forming.It is unclear at what price the government plans to enter into the capital of banks. Who and how will determine the fair value of securities? The government expects that payment of the banks ' shares will be nominal government bonds, which will then redeem the national Bank. However, to go through an additional issue at face value means to add value to current shareholders. According to another version, the value of shares will be calculated by deducting from the nominal price of securities liabilities of financial institutions to creditors.There are still a number of problematic aspects of the conduct of the recapitalization "in Ukrainian, and debate for more than three months. First of all bureaucratic procedures. All decisions on state participation in the authorized capital will be taken at meetings of the government in two stages. At the same meeting, the Cabinet will consider the proposal of the Bank on its recapitalization, next, decide on the conditions, timing and the amount of state funds allocated. Moreover, a necessary condition will be the audit of banking institutions and the appointment of a supervisor. So, you can forget about a quick infusion of funds into the system. In addition, when the information that the Bank has applied to the Ministry of Finance will be published, it is likely that investors will merge it before a decision will be made on recapitalization.But the biggest issue is the funding source. Stabilization Fund the budget is empty, which means, your only option may be the issue, since IMF funds for these purposes cannot be used. According to the Memorandum with the IMF, the national Bank has and limited equity opportunities - up to UAH 21 billion. At the same time, the Cabinet assesses the required amount is almost two times more (44 bln.).



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