On 7 April 2016, the Board of the National Bank of Ukraine issued Resolution No. 242 extending the time frame for banks to bring their authorized and regulatory capital to minimum statutory levels.

“Following lengthy discussions with bankers, the Independent Association of Banks, the responsible committee, the regulator has decided to extend the time frame for banks to increase their capital to levels sufficient  to meet minimum capital requirements,” said NBU Deputy Governor, Ms Kateryna Rozhkova. – The banking community has brought forth  a number of compelling arguments, such as the banks' inability to use the profit  earned in 2016 to inject additional capital into banks, lengthy merger proceedings, and the long time required to  surrender a banking license or find an investor in this juncture”.

The revised timeframe set for banks to bring their authorized and regulatory capital to minimum statutory levels:

Additionally, the NBU has extended until 11 January 2017 the timeframe for banks to submit recapitalization programs indicating specific sources for recapitalization and supporting documents to the regulator.