The National Bank of Ukraine continues to push through measures aimed at ensuring transparency over banks' access to refinancing facilities and use of these facilities. With a view to tightening control, the National bank of Ukraine Board has taken the decision to appoint upon agreement by the parties a representative of the National Bank of Ukraine to the banks that had obtained loans from the National Bank of Ukraine. 

“I would like to point out that the appointment of the representative of the National Bank of Ukraine to a bank is not treated as an enforcement measure applied to the bank. The move will make it possible to handle all the issues on site and help ensure that the bank uses the funds granted by the National Bank of Ukraine in a transparent manner,” noted First Deputy Governor of the National Bank of Ukraine Volodymyr Krotiuk.

It should be noted that the National Bank acts as the creditor of last resort in accordance with the laws of Ukraine. If banks experience temporary liquidity problems and are unable to raise funds from the market, under certain conditions any bank may apply to the National Bank of Ukraine for refinancing to maintain liquidity. Liquidity support provided by the National Bank will enable banks to meet their obligations to customers and, primarily, to depositors in a timely manner.