This isstated in bill # 2400, registered in the Parliament on 26 February2013, reports Economic Pravda. The draft law provides foramendments to the law "On banks and banking activity". As stated inthe explanatory note during the year the financial institutionsraced each other in trying to offer investors the highest rate,with the result of the maximum yield for hryvnia deposits reaching28% per annum.
"However, despite this level of profitability ofhryvnia deposits, investors prefered less profitable investments inforeign currency, resulting in the amount of foreign currencydeposits increasing by almost 30% in 2012 as the total volume ofindividual deposits in the banks increased by 19%," says in thenote.
In support of the need for passing the bill thedocument states that this regulation is necessary for furthervolume growth in lending resource of commercial banks in nationalcurrency, their cheapening, creating the conditions in which thepopulation would actively direct their income on goods and servicesof domestic producers.