March

The Verhovna Rada of Ukraine (Parliament) passed the law “On Banks and Bank Activities”

September

Consultations were held with the administration of the NBU regarding re-registration procedures with the NBU of commercial banks having been previously registered with the State Bank of the USSR.

July

At the extraordinary general meeting of Banks-Members of the Association there were discussed problems concerning re-registration of Ukrainian banks as well as payment by them of statutory funds, meeting standard requirements and organization of crediting major manufacturing programmes.

Mr. B.I. Markov was elected First President of the Association.