February

At the meeting of the Council on Banking at the Cabinet of Ministers of Ukraine a strategy on introducing bill turnover was elaborated and prospects of its progress were discussed.

June

There took place a meeting of the administration of the NBU, AUB and that of the largest banks: the Ukraine bank, the Prominvestbank and the Ukrsotsbank with Mr. Olexandr Moroz, Head of the Verhovna Rada of Ukraine. There was reached an agreement on cooperation in drafting bank legislation and in elaborating equal conditions of taxation of banks along with other transactors.

The third convention of AUB took place.

August

There took place a meeting with Mr. V. A. Yushchenko, Chairman of Board of the NBU, in course of which the following items were discussed: mandatory crediting of the agro-industrial complex, interest restrictions for loans, new regulations of prime cost calculations, reports content. According to the results of the discussion the NBU then partially liberalized the regulatory framework

September

There was held the conference “Legislative Support in Development of Banking System of Ukraine”, organized by the Commission of the Verhovna Rada of Ukraine on Finance and Banking with the participation of the NBU and ABU deliberating on the issues of both the Ukrainian Stock Exchange and banks’ activities on the financial market, tendencies in development of savings banking, registration matters and regulating commercial banks’ activities. There also took place a meeting of Board Chairmen of commercial banks with Mr. Leonid Kuchma, President of Ukraine.

November

There were held consultations between the NBU and directors of commercial banks as to the then-current situation in commercial banks in connection with approval by the NBU of Directives NN 174 and 174-A. The Association supported these Directives’ repeal since imposed restrictions on interbank credits and granting loans to clients hampered the development of the country’s economy.