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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of August 19, 2022 No. 919

About approval of the Procedure for provision to Fund of guaranteeing household deposits of the credit and/or fee of the state on irretrievable basis

According to article 25 of the Law of Ukraine "About system of guaranteeing household deposits" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for provision to Fund of guaranteeing household deposits of the credit and/or fee of the state on irretrievable basis which is applied.

2. Declare invalid the resolution of the Cabinet of Ministers of Ukraine of July 9, 2014 No. 251 "About approval of the Procedure for provision to Fund of guaranteeing household deposits of the credit or fee of the state on irretrievable basis and Techniques of evaluating approach of risk of essential reduction of amount of its means" (The Official Bulletin of Ukraine, 2014, No. 57, the Art. 1556).

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of August 19, 2022, No. 919

Procedure for provision to Fund of guaranteeing household deposits of the credit and/or fee of the state on irretrievable basis

1. This Procedure determines procedure for granting to Fund of guaranteeing household deposits (further - Fund) the credit and/or fee of the state on irretrievable basis for timely accomplishment of task by Fund for ensuring functioning of system of guaranteeing household deposits at the expense of means of the government budget (further - the credit (contribution) of the state).

2. In this Procedure terms are used in the value given in the Law of Ukraine "About system of guaranteeing household deposits" (further - the Law).

3. The basis for loan granting of the state is need of maintenance of liquidity of Fund with simultaneous exhaustion of opportunities of replenishment of fund at the expense of the sources determined by part one (except Item 9) article 19 of the Law.

4. The basis for provision of fee of the state is need of maintenance of liquidity of Fund with simultaneous exhaustion of opportunities of replenishment of fund at the expense of the sources determined by part one (except Item 9) article 19 of the Law, and availability of signs of unstable financial condition of bank system, and also the circumstances menacing to stability of bank and/or financial system of the country, confirmed with the relevant decision of the Council for financial stability created by the Presidential decree of Ukraine of March 24, 2015 No. 170.

5. The loan (fee) of the state is granted to Fund in the amount of, necessary for providing covering of the expenses connected with accomplishment of the functions by Fund.

6. The loan (fee) of the state is granted in the form of means or domestic government bonds within the corresponding budget settings provided by the law on the Government budget of Ukraine the current year.

7. The loan of the state is granted:

1) in national currency with interest payment at the level of market rate on government securities of Ukraine of the compared repayment periods issued by the Cabinet of Ministers of Ukraine during provision of such credit;

2) on security:

future revenues to the account of Fund;

the domestic government bonds belonging to Fund and which are not encumbered with any other obligations in the amount of 100 percent of their fair value.

8. The loan can be granted in exchange for the bill of exchange issued by Fund on the same conditions as domestic government bonds.

9. The term of loan granting of the state depends on planned receipts and expenses of fund (in the form of the forecast of cash flow) during the loan granting term for which the application is submitted.

10. Conditions to Fund do not provide fee of the state its return and interest payment.

11. Availability at Fund of debt on earlier granted loan is not obstacle for provision to Fund of the new credit and/or fee of the state.

12. The fund for loan granting of the state gives to the Ministry of Finance:

1) offers on loan granting of the state signed by the director - the manager of Fund, under seal Fund (in the presence), with indication of the size, terms of provision and use, and also reasons for need of attraction of the credit of the state with the corresponding calculations;

2) the copy of the decision of executive directorate of Fund on need of attraction of the credit with indication of its amount certified of the procedure established by the legislation.

13. The fund for provision of fee of the state gives to the Ministry of Finance:

1) offers on provision of fee of the state signed by the director - the manager of Fund, under seal Fund (in the presence), with indication of the size, provision terms, and also reasons for need of attraction of contribution of the state with the corresponding calculations;

2) the copy of the decision of executive directorate of the Fund approved by administrative board of Fund, about need of attraction of contribution of the state with indication of its amount, certified of the procedure established by the legislation;

3) the copy of minutes abstract of meeting of Council for financial stability which specifies recognition of signs of unstable financial condition of bank system, and also the circumstances menacing to stability of bank and/or financial system of the country.

14. The Ministry of Finance no later than 14 days from the date of receipt of the request of Fund provides provision to Fund of the credit and/or fee of the state on irretrievable basis in the corresponding size based on the law on the Government budget of Ukraine for the corresponding year.

In case of absence in the law on the Government budget of Ukraine the current year of budget settings in size necessary for Fund in a month from the date of receipt of the request of Ministry of Finance Fund develops and initiates submission by the Cabinet of Ministers of Ukraine to the Verkhovna Rada of Ukraine of the relevant bill including offers of Fund, and within 14 calendar days from the date of entry into force of the adopted Law provides provision of the corresponding financing.

 

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