The law on restructuring of foreign currency loans lead to new bank failures - Bank Act

of restructuring of foreign currency loans Exchange will cause damage to the economy by 95 billion hryvnia and new bank failures, the director of the legal department of the National Bank of Ukraine Viktor Novikov. It is reported. &Laquo; Withakonoproekt will damage the banking system around 95 billion, but it's not just bank losses, and losses for the entire economy of Ukraine. This law, if its implementation will harm the entire system and can lead to the fact that some banks will be withdrawn to the Guarantee Fund. This means additional costs to the budget and reduce the juicelnyh benefits, since it will make payments guaranteed sums on deposits & raquo ;, – Novikov said. Earlier, the National Bank of Ukraine insisted on the rejection of the draft law. July 2nd Council in second reading and generally adopted a bill on restructuring foreign currency loans. During this docut voted 229 MPs at the minimum required 226 currently has 6 MPs appealed to the Speaker asking them not to enroll their vote for the bill. The bill provides that subject to restructuring all consumer loans obtained for the acquisition of any property, without limiting the amount of debt. Customer credit indebtedness converted at the NBU rate on the date of the loan agreement. Exchange difference is written off by banks. Minister of Finance of Ukraine Natalia Jaresko called the adoption of this law populism that « has nothing to do with justice & raquo ;. She said the potential losses of the banking systemand in the case of the entry into force of the bill would amount to 95 billion USD. Minister of Economic Development and Trade Ayvaras Abromavychus also called the law populist, and expressed hope that the law on restructuring of foreign currency loans will be either canceled or vetoed by the president.