Deposit Guarantee Fund proposes sale of part of NBU pledges through ProZorro.Sale
The Individuals' Deposit Guarantee Fund has proposed to disband the pools of assets of insolvent banks as collateral from the National Bank of Ukraine (NBU) and put them up for individual trading in the ProZorro.Sale system using the model of Dutch auctions.
According to a press release, a pilot project for the sale of two pools of claim rights on loans on the U.S. sites of First Financial Network (FFN, Oklahoma City) and The Debt Exchange, Inc. (DebtX, Delaware) was unsuccessful due to the discrepancy between the seller and potential investors in their real value.
The fund does not specify the discount required by potential investors. At the same time, Svitlana Rekrut, the deputy managing director of the fund, during a press conference in Kyiv reported price offers were several times lower than the established starting price.
Accordingly, the fund considers it expedient to try to sell these assets through the ProZorro.Sale system.
"Today we propose that the NBU put all the assets that were part of the pools up for individual trades at the book value. The sales price will be formed by the market, let's see at what level these assets will be of interest to potential buyers," fund head Kostiantyn Vorushylin said.