To negotiate with credit debtors, banks will under the new rules

Ukrainian business said the rules of restructuring for loans.

Домовлятися з кредитними боржниками банки будуть за новими правилами

The relevant document on behalf of the financial stability Board published by the national Bank of Ukraine (NBU was developed jointly with the Ministry of Finance), informs Rus.Media.

It is mandatory for state – owned banks-Sberbank, PrivatBank, Ukreximbank, Ukrgasbank. And urged commercial banks that are perceived by financiers as a secret order.

Rules should apply to large loans from 5% of Bank capital. Most in Oschadbank, Ukreximbank and Ukrgasbank, where the total amount of defaults 194 bln.

The new recommendations do not conflict with the basic requirements outlined in the current law “On financial restructuring”, but Supplement them. From all the mentioned rules it is possible to identify six key:

Any restructuring plan should be based on the consolidated financial statements for the past two years. She must be confirmed by the auditing report of company with a good reputation. The plan should include a cash flow forecast for the next 2-3 years.

The process should involve all entities that were directly or indirectly financed by the loan restructure.

Credit the debtor not only has no right to argue and to file lawsuits against the lender, but is also obliged to actively cooperate with them and facilitate everything. At the slightest disobedience or deception (reporting, ownership structure, etc.), restructuring should be phased out and the Bank is obliged to immediately start the process of debt enforcement, with the sale of collateral and all other important nuances. The Bank should be able to receive regular reports of the company and at any time to conduct his audit.

The owner of the company-the debtor is obliged to participate in the restructuring of own funds or assets.

All available funds should be directed, at least in part, to repay Bank loan. The company should remain as much money as it needs for the current life. The Bank may require additional collateral and guarantees.

A final decision on the restructuring of large loans must be approved by the Supervisory boards of state banks.

So the government was able to strictly control the concessions, which are state-owned banks, they were obliged every six months to report on the restructuring of the Ministry of Finance. And he will bring all to light. The next report should appear in February 2019. Commercial banks are not legally required to give all the detail to their clients. So no one is waiting for public reporting on work with problem loans.

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