21 April, 1998 - 00:00
A statement to this effect was made at a conference of commercial bank representatives by Iryna Samoilova, head of the banking department of the Ukrainian Bank Association (UBA), adding that she thought the National Bank’s requirements were excessive in certain respects.
While securities dealers are allowed access to the market with a 0.5 million ECU minimum statutory fund, commercial banks must each have 3 million ECU.
The bankers believe that NBU’s enhanced minimum statutory fund requirements, considering the progressive coefficient, may have a negative effect on the financial market, blocking the banking system’s normal growth, reports Interfax-Ukraine.
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