The Standing Committee of the National Bank of Ukraine and the Deposit Guarantee Fund met for the first time on Sept. 4 to discuss the handling of troubled financial institutions in the country.
Among the issues discussed at the first meeting were measures to establish bridge banks and the need for common information and policies related to the Ukraine's financial crisis.
The committee will coordinate activities to ensure prompt informational exchanges between the regulator and the fund, and also adopt consistent policies. It is co-chaired by Oleksandr Pysaruk, first deputy governor of the National Bank of Ukraine, and Vasyl Pasichnyk, managing director of the fund.
“In my opinion, such concerted efforts by the National Bank of Ukraine and the fund will make it possible to improve the handling of distressed banks and a bank resolution mechanism. As a result, we hope to increase the protection of depositors' and creditors’ rights," Pysaruk said.