Ukrainian Parliament Adopts Law on Bank Nationalization

Ukrainian legislators approved law that would allow nationalization of a systemic bank following the Russian invasion, lawmaker Yaroslav Zheleznyak says on his Telegram-channel.

• Draft law envisages transfer of such a systemic bank for 1 hryvnia ($0.03) to state deposit guarantee fund; deposits of major or sanctioned owners will be converted into bank’s capital
• Government could repay losses to shareholders if audit shows the bank was worth more than 1 hryvnia only after Russia pays Ukraine compensation for the war and only from those proceeds

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Daryna Krasnolutska in Kyiv at dkrasnolutsk@bloomberg.net

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