on march 20, 1991, the verkhovna rada (parliament) of ukraine adopted the resolution "on banks and banking activity", which became law on may 1. the resolution declared ownership by the ukrainian ssr of the ukrainian republican bank of the state bank of the ussr (later national bank of ukraine), the ukrainian republican bank of the state commercial industrial-constructional bank of the ussr "ukrprombudbank", the ukrainian republican bank of the savings bank of the ussr, and the ukrainian republican bank of the foreigneconombank of the ussr as well as the ukrainian republican department of encashment of the state bank of the ussr.