Bank certificates

In the Verkhovna Rada propose to adopt a bill that provides for the creation of bank certificates

The Verkhovna Rada Committee on Financial Policy and banking issues proposes to Parliament to adopt as a basis the bill on financial instruments of the Bank (№ 9034). This is reported by the press service of the Verkhovna Rada.

It is noted that the document proposes to introduce bank certificates – a new type of issuance securities, which will be issued by banks.

"The convenience of the use of bank certificates is that such a certificate combines the properties of bank deposit and securities. It is assumed that bank certificates can be both interest and account, "-said in a statement.

The relevant changes are to be made to the economic code and a number of securities laws, the stock market, the depositary system, the institutions of joint investment and the like.

According to the first Deputy chairman of the committee Mikhail Dovbenko, the bank certificate has several advantages in comparison with bonds and deposits. In particular, in comparison with the deposit certificate has high liquidity, ease of registration and the possibility of a certificate before the expiry date on the secondary market.

In comparison with the bond, the registration of the issue takes place within one day and does not require a significant amount of documentation compared to the fact that the bond is registered within 25 working days, he added.

"The bank certificate is, first of all, the result of bilateral agreements between the bank and its client. That is, such a tool is created unique, can the client and the bank to create essentially a tool in the form of security, "-said Dovbenko.

According to the Committee, the adoption of the bill will contribute to the development of the capital market through the mobilization of financial resources and their efficient use. It will also promote the introduction of a new type of financial instruments of banks in a non-documentary form.

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