Today, on April 14, 2021, the Cabinet of Ministers has supported the draft Law of Ukraine "On Amendments to Certain Laws of Ukraine concerning the acquisition by the joint-stock company" State Savings Bank of Ukraine the status of a participant in the Deposit Guarantee Fund" dshaped by the Ministry of Finance.
The draft law envisages amending the laws of Ukraine "On Banks and Banking Activity" and "On the System of Individuals' Deposit Guaranteeing", according to which, if passed, in particular, the following is provided for:
JSC "Oschadbank" acquires the status of a member of the Deposit Guarantee Fund;
Deposits attracted by "Oschadbank" JSC before coming into force of the law, exceeding the limit of compensation of deposit funds, a part of the deposit shall not be compensated at the expense of the Fund and shall be guaranteed by the state;
The amount of initial fee to the Fund for "Oschadbank" JSC is set at the level of 1% of its regulatory capital on the date of obtaining the status of a participant in the Fund;
Peculiarities of JSC "Oschadbank" participation in the system of guaranteeing deposits of individuals are determined by the Fund's regulations.
"The decision of the Government is intended to be a powerful positive signal for potential investors in the capital of JSC "Oschadbank", in particular for the EBRD. Therefore the approval and introduction by the Cabinet of Ministers to the Parliament the relevant bill, developed by the Ministry of Finance, will activate negotiations with the EBRD on the entry into the capital of the bank ", Minister of Finance Serhii Marchenko stressed.
The entry of "Oschadbank" to the Deposit Guarantee System is provided by the updated Principles of Strategic Reform of the State Banking Sector. The features of the entry of "Oschadbank" to the Deposit Guarantee System were approved by the Financial Stability Board on September 2, 2020.