The National Bank of Ukraine devolves powers to the Ministry of Information Policy of Ukraine to exercise corporate rights of the state in respect to the Banking Television LLC (hereinafter – TV channel BTB)
On March 19, 2015, the Board of the National Bank of Ukraine adopted Resolution No196 to this effect in effort to push through the NBU reform agenda.
Deputy Governor of the National Bank of Ukraine Vladyslav Rashkovan noted: "The move marks a consistent step forward towards reforming the regulator and transforming inefficient business processes. The National Bank of Ukraine confirms its commitment to plans to dispose of non-core assets and remove them from its balance sheet.
We believe that the decision to transfers the BTB TV channel under the jurisdiction of the Ministry of Information Policy of Ukraine will enable the National Bank to contribute to the outreach efforts to convey, in a comprehensive manner, unbiased information about Ukraine to the viewers, both in Ukraine and abroad, and, on this basis, shape a positive attitude of the international community towards Ukraine. This asset will allow the Ministry of Information Policy of Ukraine to focus its efforts on performing its key tasks, while the National Bank will channel its efforts on exercising its main functions of maintaining price stability and ensuring the financial stability of the banking sector, which is a key area of focus for the revamped management team of the National Bank of Ukraine".
According to Vladyslav Rashkovan, over the past years, the National Bank has invested UAH 220 million in the BTB TV channel, with the annual operating and maintenance expenses totaling UAH 60 – 70 (personnel costs on the staff of 200 employees accounted for half of the total costs). All the assets of the BTB TV channel will be transferred to the Ministry of Information Policy of Ukraine.
As a side note, on March 18, 2015, the Cabinet of Ministers of Ukraine issued an Ordinance, whereby the BTB TV channel would be transferred under the jurisdiction of the Ministry of Information Policy of Ukraine.
According to the information provided by the Ministry of Information Policy of Ukraine, Ukraine Tomorrow, a foreign-language TV channel, will be established on the basis of the BTB TV channel. The high-priced property and equipment of the BTB TV channel will form part of the facilities for this new TV channel, enabling it perform, in an efficient manner, its key tasks of disseminating socially important information domestically and abroad, and making the state-run information resources operational. Ukraine Tomorrow TV Channel will become fully operational as early as one month after the procedure to devolve powers to exercise corporate rights of the state is completed.