The Verkhovna Rada has passed a bill on the capitalization and restructuring of banks that mitigates the requirements to banks due to the hryvnia devaluation.

An Interfax-Ukraine correspondent has reported that the bill amending the law on measures aimed at facilitating capitalization and restructuring of banks (No. 2449-d) was supported by 239 lawmakers on Thursday.

The press service of the National Bank of Ukraine (NBU) said that the central bank welcomes the adoption of the document.

"The bill is one of the measures of the comprehensive program on development of the financial sector until 2020 passed in spring 2015. It is structurally important, as it first aims at stabilizing the operation of the Ukrainian banking system and strengthening protection of rights of other creditors of banks. In the future the document would allow minimizing the impact of the difficult economic situation on the operation of banks and related negative developments caused by devaluation of the national currency and the loss of trust of depositors," the NBU said.

The bill on the capitalization and restructuring of banks aythorizes the NBU to not place banks in the category of distressed and insolvent banks if the reduction of regulatory capital, the adequacy of regulatory capital, the ratios of current and short-term liquidity, and the increase of negatively classified assets on which risks should be assessed and reserves should be formed, are due to the devaluation of the hryvnia and the formation of reserves for possible losses on active banking operations.