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Ministry of Justice of Ukraine

October 15, 2019

No. 1113/34084

THE ORDER OF THE NATIONAL COMMISSION PERFORMING STATE REGULATION IN THE SPHERE OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of May 30, 2019 No. 980

About approval of the Regulations on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of the financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees

According to Item 1, to part one item 4 of Article 28, to article 29 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", to the subitem 18 of item 4 of the Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, the National commission performing state regulation in the sphere of the markets of financial services, POSTANOVILA:

1. Approve Regulations on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of the financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees which are applied.

2. In the markets of financial services together with department of legal providing to submit to department of state regulation and methodology of supervision this order to the Ministry of Justice of Ukraine for state registration.

3. This order becomes effective in three months from the date of its official publication.

4. To financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees to bring the activities into accord with requirements of the Regulations on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of the financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees, approved by this order within three months from the date of the introduction of this order in force.

5. And members of the commission to provide to management of ensuring activities of the Chairman publication of this order after its state registration.

6. Control over the implementation of this order to assign to the member Natskomfinuslug Zaletov E. M.

Commission chairman

I. Pashko

It is approved:

Chairman of the Antimonopoly Committee of Ukraine

 

Yu. Terentyev

Approved by the Order of the National commission performing state regulation in the sphere of the markets of financial services of Ukraine of May 30, 2019 No. 980

Regulations on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of the financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees

I. General provisions

1. This Provision is accepted for the purpose of ensuring stable activities of the financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees, timely and unconditional accomplishment by them of obligations to clients (creditors) and also prevention of possible losses of equity because of the risks inherent in such activities.

2. Action of this Provision extends to financial institutions which obtained the license for implementation of economic activity on provision of guarantees and guarantees (except credit unions) (further - guarantors).

3. This Provision establishes the requirements limiting risks on transactions with financial assets and financial standard rates and procedure for their calculation which are obligatory for execution by all guarantors.

4. In this Provision terms are used in such values:

book value of assets - the amount on which the asset is recognized the financial reporting, after deduction of any cumulative depreciation amount and accumulated losses from reduction of its usefulness according to the legislation;

liquidity - capability of the guarantor to provide timely accomplishment of the monetary commitments which is determined by balance between terms and repayment sums of the placed assets and terms and the amounts of accomplishment of obligations, and also the amounts of other sources and the directions of use of means by the guarantor;

acceptable assets - the guarantor's assets, except for the amounts concerning means which use is limited which include money and their equivalents, securities which issuers are the central executive bodies, local executive bodies, the National Bank of Ukraine and the Public mortgage institution, and also securities of international financial institutions.

Other terms used in this Provision are applied in values according to the legislation of Ukraine.

II. Financial standard rates

1. The guarantor shall fulfill the following obligatory financial standard rates and requirements:

1) the standard rate of adequacy of the capital (To 1);

2) the standard rate of the maximum risk on one or connected persons (To 2);

3) the standard rate of inventory of liquidity (To 3);

4) requirements for restriction of risks of the guarantor for financial assets.

2. The standard rate of adequacy of the capital (To 1) it is established for providing timely and in full accomplishment by the guarantor of the obligations on guarantees issued and guarantees.

The standard rate of adequacy of the capital (To 1) it is determined as ratio of equity of the guarantor reduced by the amount of long-term financial investments which are considered by method of equity participation of other companies and other financial investments, bills of exchange, securities which are not in the stock exchange list at least of one of stock exchanges (including trade in which on the stock exchanges is forbidden by the legislation of Ukraine) to book value of the assets of the guarantor weighed on the risk degree increased by the obligation amount on all warranty types and the guarantees provided by the guarantor which are considered on off-balance accounts.

Value of the standard rate of adequacy of the capital (To 1) shall constitute at least than 7 percent.

Procedure of payments of book value of the assets weighed on risk degree:

acceptable assets are weighed for 0 percent;

other assets are weighed for 100 percent.

3. The standard rate of the maximum risk on one or connected persons (To 2) it is established for the purpose of restriction of the risks of the guarantor arising owing to failure to carry out by such persons of the undertaken obligations.

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