Ukrainian banks can be bought out for 2 cents ...News

Russia Today - Economy
Ukrainian banks can be bought out for 2 cents
source : Russia Today ( News ) () 72
A new law allows the government to purchase any lender it deems “insolvent,” according to an official statement Ukrainian President Vladimir Zelensky has signed a decree that will allow for strategic banks to be nationalized if deemed insolvent, according to a document published on the parliament’s website on Wednesday. The legislation enables banks declared insolvent to be bought out for a symbolic price of 1 hryvnia (less than $0.03) and subsequently nationalized. Currently, there are 14 banks classified as systemically important in Ukraine, a list that includes both private and state-owned financial institution

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