The article is devoted to the study of the essence of the main components of financial security of the state as a condition for ensuring the functioning of the national economy in martial law on the basis of financial legislation and providing proposals for its provision. Identification of current threats and risks to Ukraine's financial security and study of the state's competence to ensure Ukraine's financial security from real and potential threats. Finding sources of funding and determining the use of financial resources is the basis for ensuring the protection and development of production in the country in peacetime and, most importantly, in the war. The article is prepared with the use of current regulations relevant to this topic and problem. The main threats and risks to Ukraine's financial security have been updated and described. The process of development of issues of legal support of financial security of the state is analyzed. The peculiarities of the domestic legislative provision of the financial security of the state are determined. It is substantiated that the financial security of the state, as a component of economic security depends on its elements that have an impact on national security in general. Ensuring measures that have an impact on financial security, namely the security of the budget system, banking system, tax system and in the field of finance of enterprises operating in the country during the war. Establishment of a public-private mechanism of management, which regulates relations in the public sector of the economy, whose activities are aimed at ensuring the country's defense capabilities, and whose finances are under the full control of the state. The financial security of Ukraine at war is determined by the state of financial resources in order to finance the army, defense industry, the ability of enterprises, regions, businesses to obtain and direct financial resources to protect the country, to ensure the systematic reproduction of material production. Ensuring the financial security of the state in a state of war requires state regulation of the banking system and entrepreneurship.
Abstract. The authors of the article have studied the problem of managing non-performing loans within loan portfolios. It has been substantiated that Ukraine as a developing country is in such socio-economic conditions of development that increase credit risks for banks. Numerous studies of the determinants for the formation of loans portfolios in countries with different levels of economic development demonstrate that developing countries are prone to negative consequences that lead to insolvency of debtors in case of a drop in the GDP, inflation, legal uncertainty, political crises, etc. The lack of long-term experience of banks in solving problems of increasing the share of non-performing loans in banks’ portfolios demonstrates that minimization of such assets requires regulation at the level of the banking system, but not a separate bank. Based on statistical data, it has been demonstrated that the minimization of problem loans of banks gained significant positive dynamics only after the National Bank of Ukraine regulated the process of managing distressed assets by adopting a regulatory act. Detailing the process of legal regulation of managing distressed assets allowed banks to structure and organize the work of their divisions in accordance with the normatively defined life cycle of distressed asset in such a way that all measures taken by them affect the efficiency of their work. Using permits, prohibitions and obligations as legal means of regulating relations between banks and their debtors, those relations have become predictable, allowing banks to control the process of managing non-performing loans and make timely decisions on the use of tools to minimize the share of distressed assets of the bank. The wide choice and consistency of applying financial and legal instruments in the process of managing non-performing loans allows banks to maximize the contractual settlement of debt and address to the competent authorities for the application of state coercion to debtors. Direct prohibitions, which are provided in the procedure of writing-off impaired assets, prevent corruption manifestations in this process. However, the authors have argued that the practice of 2008—2019 in terms of managing non-performing loans of banks demonstrated that the effectiveness of this process directly depends on government regulation. If the economic preconditions for the formation of problem loans depend on various factors of objective and subjective nature, then the management of non-performing loans directly depends on the existing legal models in the state for solving this problem. The autonomy of banks and their right to independently determine their strategies for managing distressed assets does not provide the desired efficiency without the imperative intervention of the central bank. Thus, the state regulation of the life cycle of distressed assets has demonstrated its effectiveness, and thus confirmed the need for regulatory influence on the processes of minimizing non-performing loans in Ukrainian banks. Keywords: non-performing loans, distressed assets, agreement-based regulation, state influence, state coercion, legal regulation. GEL Classification G18, G21, G34, K12, K42 Formulas: 0; fig.: 2; tabl.: 0; bibl.: 12.
The article is devoted to the study of the peculiarities of a People’s Deputy of Ukraine’s request to banking institutions with the purpose of obtaining information containing bank secrecy. It is emphasized that today information is an important resource for socio-economic, technological and cultural development. In addition, information is defined as the most important civilisational value and has a dominant status. Considering this, the institute of bank secrecy is a mandatory attribute of the legal system of the State, the content of which is determined by the peculiarities of economic and legal doctrine and the formation of the regulatory framework. The author analyses the system of legal acts which regulate the proper functioning of the legal regime of banking secrecy. The main ways in which banks are obliged to ensure the preservation of bank secrecy are identified. Attention is focused on the regulatory framework that establishes an comprehensive list of grounds for obtaining information containing bank secrecy and the bodies entitled to receive such information. The two main positions on the need to provide the People’s Deputies with the right to obtain information constituting bank secrecy are outlined. Representatives of the first position focus on the fact that People’s Deputies should not have access to bank secrecy; the representatives of the second one, on the contrary, justify their position by the necessity and competence of People’s Deputies to receive such information. Each of the parties relies on the current legislation of Ukraine to argue its views. The final point on the resolution of this issue was established only by the decision of the Constitutional Court of Ukraine. It has been established that the possibility of a request by a People’s Deputy of Ukraine to a banking institution to obtain confidential information is provided for in the current legislation, but only within clearly defined limits, namely: the information is necessary for the legislative work; the issues under consideration and related to obtaining such information should be within the powers of the Verkhovna Rada of Ukraine. It is noted that a request to banking institutions to obtain information with restricted access under a certain procedure may be submitted either individually or through the activities of the Verkhovna Rada of Ukraine committees.
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