Legal regulation of banks operations with a mortgage bonds

In modern crisis conditions of financial and investment services markets in Ukraine, for detection of problems in circulation mortgage bonds it is necessary to analyse individual questions of legal regulation of economic activities in financial institutions, including the banks, connected with release and the reference of these securities.Scientists of different branches of science and law mark value of mortgage bonds among tools of stock and investment markets. In economic science these questions were investigated by N. S. Krychok, A. S. Kirizleeva and others. In legal researches connected with the questions exposed in this article were engaged regarding development of stock market and its tools by A. O. Prystupko, I. L. Nurzad, N. M. Kvit, as to mortgage lending by V. G. Pershyn, as to studying of economic legal regulation of mortgage relations and investment by N. V. Revyuk and others scientists. The cited data by National Securities and Stock Market Commission of Ukraine also shows
low activity on release and the reference of mortgage bonds and the activity connected with it in Ukraine and simultaneously a considerable role of banks in circulation these securities. Proceeding from the definitions provided in the legislation and the maintenance of operations, on the economic essence management of a mortgage covering and activity of the emitter is financial intermediary which provides due service of creditors (owners of bonds) and payment of incomes by it from the borrowed money. But outside of legal definition of such activity remain the obliged subject in such extra mortgage relations, which the emitter of mortgage bonds is, and interests of mortgage bonds owners which are the most vulnerable in these relations.
Licence requirements confirm the greatest suitability of banks in comparison with other financial institutions for activity both on release of mortgage bonds, and on management of a mortgage covering. Establishment of considerable requirements to the emitter and the manager of a mortgage covering on solvency and the amount of assets, concerning licence conditions, lead to employment of a leading place in the market concerning release of mortgage bonds by banks and the financial institutions connected with them. In this connection, for elimination of abuses from banks pertinently not to strengthen restriction in activity on release of mortgage bonds and management of a mortgage covering, and to enter obligatory additional guarantees for investors with a side of third persons in the presence of the connected banks and financial institutions. It is necessary at legal regulation assignment of financial services during release and sale of mortgage bonds, formation of a mortgage covering, in conclusion of the management contract to enter standardization at level of National Securities and Stock Market Commission statutory acts.