The National Bank of Ukraine (NBU) announced Friday that it has appointed Michael Vidyakina to head the Department of Strategy and Reform of the Banking System.
The department is charged with the development, coordination and monitoring of reformatory legislation and measures. This department will also implement the strategic plan for both the NBU and the banking sector in Ukraine.
Vidyakina has previously served in several positions with UkrSibbank, OTP Factoring Ukraine and the overall OTP Banking Group. He holds a master's degree in international economic relations from the Institute of International Relations within the Kyiv National Taras Shevchenko University.
Reports this month from the regulator indicate measures are being taken to stabilize the banking system and to improve the overall economic climate in Ukraine. This includes the extension of measures that bar lenders from extending loans in the domestic currency if collateral is in foreign currencies and other matters relating to exchange markets.