If there are any violations, then the bank will be declared insolvent, HUBS reports.
The National Bank of Ukraine (NBU) has passed the resolution, stipulating the right of the regulator to declare banks insolvent in case of incompliance of the amount of their authorized capital with requirements of Ukrainian legislation, NBU press-office reports.
As it is emphasized in the message, the requirements to the minimum amount of authorized capital have been established by Article 31 of the Law On Banks and Banking.
Meanwhile, for banks, the authorized capital of which does not comply with requirements, the National Bank has developed a time-phased plan of bringing the authorized capitals of financial institutions in compliance with requirements of this legislation.
NBU adds that this resolution comes into force since the day of its official publication.
