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Monday, August 21, 2017

NBU presents banking sector reform

The National Bank of Ukraine (NBU) on Monday hosted a meeting of Ukrainian bank CEOs to discuss the reformation strategy of the banking system.

Vladyslav Rashkovan, acting deputy governor of the bank, presented the proposed structure of regulation. Among the presented set of reforms was that the bank's budget was cut.

"Having analyzed the structures of the European banks, we have developed a new organizational structure of the National Bank of Ukraine based on the underlying principles reflecting a focus on formulating a far-reaching vision for the banking system, enhancing the main functions of the central bank, and relinquishing the practice of manual control," Rashkovan said.

Bank representatives stated that the current interbank exchange rate of the local currency had suited importers and exporters. On the other hand, they said foreign exchange rates were triggered by panic. They supported auctions of foreign currencies. NBU Gov. Valeriia Gontareva noted that FX sales to Naftogaz had no impact of exchange rates, and she stated the exchange rates were expected to stabilize.

Organizations in this story

National Bank of Ukraine 9 Instytutska St., Kyiv 01601

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