Contents tagged with NBU

  • National Bank of Ukraine: Billions are circulating outside of the banking system in Ukraine

    The amount of cash outside of the banking system is about 300 billion hryvnia ($11.48 billion USD).

    UNIAN reports that the Acting Head of the National Bank (NBU), Yakov Smolii, announced this during a meeting of the Verkhovna Rada Committee on Financial Policy and Banking Activity.

    "At the current time, there is cash of about 300 billion UAH outside of the banking system," he said.

    At the same time, Smolii stressed that such a large amount of cash increases the burden on the National Bank, …

  • Ukrainian court has recognized the nationalization of PrivatBank as 'partially illegal'

    On May 17, the Kyiv District Administrative Court recognized the nationalization of Ukraine's largest privately owned bank, PrivatBank, which took place on the night of December 18, as partially illegal. The court considered the claim of six individuals against the National Bank (NBU), the Individual Deposits Guarantee Fund, the Ministry of Finance, and persons authorized to perform interim administration at the Bank at the end of December 2016. The plaintiffs were co-owners of the media group 1 …

  • National Bank of Ukraine expects to receive fifth tranche of IMF loan

    Ukrainian authorities will reach a consensus with the mission of the International Monetary Fund that is working in Kyiv now. They anticipate that the country will receive the fifth tranche of the Fund's loan within the framework of the program.

    This was told to reporters by the acting head of the National Bank, Yakiv Smoliy on the sidelines of the research conference organized by the National Bank of Ukraine together with the National Bank of Poland and with the support of the Government of …

  • The Deputy Head of the National Bank of Ukraine said Russian banks have no future in Ukraine

    Banks that are partly owned by Russia should be able to “calmly and without panic” withdraw from the Ukrainian market where they have no future, the Deputy Chairman of the National Bank of Ukraine (NBU), Katerina Rozhkova said in an interview with Minfin web site.

    “There is no development for Russian banks here. This should be clear to everyone. On the other hand, as a regulator, we believe that the exit from the market should be civilized. No one should get bricked. Let the banks have the …

  • Head of the National Bank of Ukraine hands in resignation, reveals how much insolvent banks owe the country

    On April 10, the head of the National Bank of Ukraine (NBU) Valeria Hontareva handed in her resignation. She spoke about this during an unscheduled press conference.

    “After nearly three years of being the head of the NBU, I have decided to leave this position. I gave the president official notice of resignation at my own wish as of April 10 this year,” she said. She added that according to tradition, she is giving notice of this staff change in the NBU one month in advance. Thus Hontareva will …

  • Director of the National Anti-Corruption Bureau: NBU withdrew half a billion dollars from Ukraine

    The Director of the National Anti-Corruption Bureau of Ukraine (NABU), Artem Sytnyk, said during an interview with Vysoky Zamok web site that the NABU is investigating the multimillion-dollar refinancing of banks by the National Bank of Ukraine.

    "Regarding the so-called reform of the banking sector, as a result of which more than 80 banks ceased to exist, the National Police have many questions. This is not exactly our line of work. If we are talking about funds that the NBU allocated for …

  • Anti-Corruption Bureau checking National Bank of Ukraine for involvement in loss of billions due to refinancing of insolvent banks

    The National Anti-Corruption Bureau of Ukraine (NABU) is checking the legal basis of directing funds towards the refinancing of certain Ukrainian banks as well as the involvement of the leadership of the National Bank of Ukraine (NBU) in this process. This was stated Artem Sytnyk, Chairman of the NABU.

    "For several months already we have been conducting criminal proceedings that involve the management of the NBU, related to the spending of money allocated to a number of commercial banks for …

  • National Anti-Corruption Bureau of Ukraine conducts searches of National Bank

    On March 29, the National Anti-Corruption Bureau of Ukraine (NABU) conducted searches on the premises of the National Bank of Ukraine (NBU). The NBU press-service reported that the searches and seizure of documents were done in accordance with the ruling of the Solomyanskiy District Court. However, the NBU did not specify which criminal proceedings this relates to.

    Vitaly Bala, analyst at the Situations Modeling Agency, believes that the searches at the National Bank are in connection with the …

  • Ukraine to consider imposing sanctions on subsidiary of Russia's Sberbank

    The National Bank of Ukraine (NBU) issued a statement in which it threatened that it would require the National Security and Defense Council (NSDC) of the country to impose sanctions against the Ukrainian "daughter" of Sberbank. The statement of the NBU followed the reports that Sberbank has begun to serve customers with passports from the self-proclaimed Donetsk and Luhansk People's Republics.

    "If this information is confirmed, the NBU will initiate a request to the NSDC to apply sanctions to …

  • Ukraine is ready to sign a memorandum with the IMF paving the way for the fourth tranche

    On the evening of March 1st, the International Monetary Fund (IMF) sent Ukraine the final version of the Memorandum of Economic and Financial Policies under an Extended Fund Facility (EFF). Its signing will allow the Fund to consider the allocation of a fourth tranche to Ukraine amounting to $1 billion within the program as announced on Thursday, March 2nd, by the Chairwoman of the National Bank of Ukraine (NBU), Valeriya Hontareva, during a press conference in Kyiv. "On the part of the NBU, …