The National Bank allowed banks to disclose to executors data on amounts in debtors' accounts. The relevant resolution №18 of the regulator came into force on February 16 and is mandatory for all banks in Ukraine.
The NBU clarified what information the bank is obliged to provide to the state executive service, as well as private executors.
The NBU obliged banks to disclose secret information about debtors' accounts
The exact amounts will be named
Previously, executors could only request information about the availability of an account in a particular financial institution by means of a request for a specific client of the bank.
"The document makes the only change in the existing practice of providing information on the accounts of debtors to executors, including by court decision. And obliges financial institutions at the request of the authorized person to provide not only information about the account of a particular citizen, but also data including the amount ", - told UBR.ua Deputy Director of the Legal Department of Creditvest Bank Alexei Lysenko.
The data disclosure mechanism itself does not change. The Contractor shall provide the bank with a request for disclosure of information on the availability of the account and funds on it. He responds with the necessary data.
Of course, such a request needs grounds. It is simply impossible to inquire about a person's financial condition in this way.
Now the information on the availability and or condition of the debtor's accounts must contain the numbers of accounts opened by him in the bank, as well as the amounts of funds that are available in such accounts.
Sometimes, says the expert, there were anecdotal situations. The bank collects money from its debtor in enforcement proceedings, and at the same time refuses to provide the executor with information about his accounts.
Upon written request, performers may request:
information on the availability or status of the debtor's accounts;
data on cash flows and transactions on the debtor's accounts for a specific period of time;
information on the debtor's agreements on the storage of valuables or the provision of an individual bank safe in the financial institution to the debtor for rent.
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In addition, at the end of January, the NBU issued another resolution (№10), which obliged banks to supplement the internal regulations by establishing the powers of the person who delivered the executive document.
The updated procedure applies to all debtors, even for small amounts.
"If the case of non-payment falls into the executive service, the executor will be able to take advantage of the updated procedure for the debtor. What is the amount of debt and its essence - does not matter," - says Lysenko.
Will this make the job easier for the performers?
The innovations will make the work of the executors a little easier, because after the first request they will understand whether there are enough funds in the debtor's account to repay the obligations. This will save a little time and optimize work.
As before, executors will be used to "freeze funds" two scenarios: the seizure of all funds in the account or a specific amount. It does not depend on the whim of the executor, but on the essence of the executive document.
"The latter does not always have a monetary assessment of the debt. In the case of a known amount, such as in the case of fines for violation of traffic regulations, the seizure is imposed on a specific amount. The NBU has no influence on executive practice, "Alexei Lysenko said.
Others do not have such access
It should be noted that in some countries, enforcement authorities do not have access to information on the balance of funds in the debtor's accounts, and at the same time this does not interfere with the enforcement of court decisions.
These are countries where an automated system for seizing debtors' funds has been introduced.
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The seizure imposed by the executor on the debtor's funds is sent by the system to all banks, as well as other financial institutions.
Thus, says the expert, in countries where there is an automated system of seizure of debtors' money does not suffer from either bank secrecy or the obligation to enforce a court decision.
Source: www.ubr.ua