The nationalization of the “PrivatBank” has become the end of the banking crisis in Ukraine – the economist Atlantic Council

The nationalization of the “PrivatBank” has become the end of the banking crisis in Ukraine – the economist Atlantic Council

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Anders Aslund stressed that “PrivatBank” has been a major bone of contention for over two years.

The decision of the nationalization of “Privat” marked the end of the banking crisis in Ukraine, says a senior researcher at the Atlantic Council Anders Aslund. This is stated in the article on the website of the Atlantic Council.

Starting in 2014, writes the economist, the national Bank of Ukraine (NBU) has closed almost half of the 180 banks in Ukraine, including several banks, which was about ten largest.

See also: the Finance Minister said the nationalization of “PrivatBank” will have an impact on the hryvnia

To date, he said only two of the ten largest commercial banks in Ukraine are privately owned by Ukrainians, and it was “PrivatBank”, and a much smaller First Ukrainian international Bank, which belongs to Rinat Akhmetov.

Two of the largest banks are state-owned Oschadbank and Ukreximbank, three Russian state banks, Alfa-Bank is the private property of former Russian citizens, and the last two to Western European banks.

In PrivatBank assured that individuals will not have problems with access to their funds

TSN. Wounds
Today, 12:47

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The Bank promises to resume operations for legal entities. on the Eve to do it. Individuals, say at the Bank, problems with access to their funds will not have. The new leadership of the PrivatBank can begin its work tomorrow. The decision to nationalize one of the largest Ukrainian banks took on Sunday.

Aslund notes that “PrivatBank” has been a major bone of contention for over two years. The international monetary Fund approved a brave Bank closing, the NBU, but he also demanded that the Central Bank has solved the problem of the recapitalization and the related lending “PrivatBank”.

So, as they say in the article Aslund, there were two choices – peace or recapitalization or forced nationalization. “In the spring of Kolomoisky and the head of the NBU Gontareva said that “PrivatBank” will be gradually recapitalized and related lending is reduced within three years”, – the economist added.

According to him, the government acted quickly and said Aslund, was taken the right steps. He appointed former Finance Minister Andrew Shlapak interim Executive Director. All relevant officials immediately declared its support for nationalization. International organizations also supported the nationalization of the Bank, said Aslund.

After that nationalizing “PrivatBank”? Meet MPs

Today, 20:04

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Deputies of the Verkhovna Rada, in particular, semen Semenchenko, Yuri Birch and Vadim Novinsky, told TSN Daria Happy, what companies should be nationalized after the “PrivatBank”.

Recall, December 20, the Ministry of Finance will receive the entire package of shares of “PrivatBank”. Now Charter approved nationalized Bank. Registration will be in the river, because there is the Central office. The new leadership, headed by Alexander Shlapak will begin its work on Wednesday, December 21.

It should be noted that the national Bank of Ukraine today appeared on the currency market to keep the hryvnia exchange rate fluctuations. It was sold 28.4 million dollars. “The total amount of submitted bids amounted to 37.9 million. USA, we have satisfied 62% of bids at the minimum auction rate. The cut-off rate was 26.5 UAH per dollar.

See also: danyluk admitted that “PrivatBank” and “Oschadbank” can combine

By results of auction, the maximum rate was $ 26,50 UAH per U.S. dollar, the minimum rate – 26.45 hryvnia per U.S. dollar, the average rate is 26.46 hryvnia per U.S. dollar”, – said the Deputy head of the NBU Oleg Chury.

He also said that Ukraine has high chances of getting fourth tranche from IMF in the amount of $ 1.3 billion. the program extended funding after the budget and the nationalization of “PrivatBank”. However, funds likely will be in 2017.