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Cabinet instructs Ministry of Economy to reorganize State Mortgage Institution
KYIV. Dec 7 (Interfax-Ukraine) – The Cabinet of Ministers instructed the Ministry of Economy, instead of the Ministry of Finance, to create a commission to reorganize the State Mortgage Institution (SMI) by joining it to the Ukrainian Financial Housing Company.
This is enshrined in the Resolution of the Cabinet of Ministers No. 1265 of December 2, 2021.
According to the document, the government also transferred the integral property complex of the SMI to the management of the Ministry of Economy from the sphere of management of the Ministry of Finance, and also instructed the Ministry of Economy to carry out measures within ten days to formalize the corporate rights of the state in the authorized capital of Ukrainian Financial Housing Company.
As reported, in September-2021, the Cabinet of Ministers approved the accession of the State Mortgage Institution to the Ukrainian Financial Housing Company PrJSC with the transfer of the rights and obligations of the State Mortgage Institution to Ukrainian Financial Housing Company.
SMI was created by the government of Ukraine in October 2004. The main activity is the refinancing of mortgage lenders at the expense of funds raised from the placement of securities.
