The new rules aim to strengthen the protection of depositors and creditors and simplify the return of funds in case of bank bankruptcy.
President Volodymyr Zelensky signed Law No. 4962-IX, which regulates certain issues related to the activities of the Deposit Guarantee Fund for Individuals, the National Bank of Ukraine, and collective investment institutions.
This concerns the previously adopted draft law No. 13007-d by the Verkhovna Rada. The document provides for changes to the mechanisms for withdrawing insolvent banks from the market, returning funds to depositors and creditors, and also expands certain powers of the National Bank.
What the law changes
One of the key provisions is…