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Individuals' Deposit Guarantee Fund has ordered auction organizers to sell assets of insolvent banks solely via electronic trading platforms, reported the Fund’s press service referring to a decision of the Fund’s Executive Directorate dated June 25, 2015.
"This will speed up the process of assets sales, ensure convenience and speed of information exchange, and will attract a wide range of potential buyers. Electronic trading and the principles of its functioning is an effective tool for selling banks’ property," the statement reads.
According to the above-mentioned decision, an auction organizer shall provide unhindered access to auctions and equal conditions for all participants through their website. Another requirement is to ensure holding of not less than 100 auctions at the same time.
Furthermore, according to the Fund’s requirements, the site shall have its own domain name, and must not redirect users to other resources and web pages. Putting up assets of insolvent banks for sale must be performed according to clear categorization based on the type of property.
"Auction holders shall bring their electronic trading platforms in line with the requirements by September 1, 2015," the statement reads.
As UNIAN reported earlier, Individuals' Deposit Guarantee Fund generated UAH 200 million from selling assets of liquidated banks and said it would provide its estimates of this process at the end of the first half of the year.