On November 16, 2015, the  Board of the National Bank of Ukraine  issued  Resolution No. 788 On Approval of Amendments to the Regulation on Specifics of Bank’s Reorganization upon the Decision of the Bank Owners.

Henceforth, pursuant to this Resolution, the National Bank shall issue a preliminary permit and approve a plan of bank’s reorganization upon the decision of the bank owners not later than two business days after the Bank submits a complete set of documents.  A simplified reorganization procedure shall only apply to banks that need additional capitalization according to the results of the diagnostic study.

Decisions on granting a banking license, a general license for foreign exchange operations to a bank, established by merger, shall be taken within two weeks after the bank submits the respective documents, instead of two months as provided by the Law of Ukraine On Banks and Banking.