Objective. To offer technical support to the Independent Association of the Banks of Ukraine on establishing a Secretariat and Arbitration Committee, capacity building of their representatives and arbitrators, supporting the development of a new administrative base for the Law On Financial Restructuring in Ukraine, promoting an increase in out-of-court restructurings and improving the efficiency of a new regulatory framework.
The project provides expert assistance for the improvement of the financial restructuring procedure, including consultations with financial market makers. Three state banks already applied this procedure.
Products for the NBU and the most significant events are as follows:
- Measures on providing information on the extension of the validity of the Law On Financial Restructuring were taken, including publication on the website, participation in public events, and the preparation of information and reports for supervisory board members, as well as members of the parliamentary committee on financial, tax and customs policies.
- The opportunity for voluntary arrangement of nonperforming loans was obtained.
- This instrument continues to be implemented for the reduction of nonperforming loans.