NBU will report further to Tymoshenko

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The national bank of Ukraine will provide to the Cabinet information on refinancing of banks in a weekly mode in the form established by the Ministry of Finance.

The relevant decision is fixed by the joint government resolution and the central bank #238 of March 11, reports "Interfax - Ukraine".

According to the document which text is published in the official press, NBU will provide also to Cabinet of Ministers materials of diagnostic examination of the banks conducted within the law on prime measures for prevention of negative consequences of financial crisis.

Besides, the document recognized become invalid the joint government resolution and National Bank #44 of January 29 by which participation of the representative of the government in board meetings of NBU which are devoted to questions of refinancing of banks was provided, among other things.

As it was reported, the parliament in March cancelled articles 84 and 86 of the state budget-2009 that allows to soften government control over refinancing of banks.

Article 86 of the state budget-2009 limited National Bank regarding establishment of a rate of refinancing and definition of an order of granting the credits to commercial banks for support of their liquidity, and Art. 84 obliged to redeem government bonds at their par value.

-2009 about issue financing of deficiency and coordination of refinancing with the government I drew the International Monetary Fund on cancellation of standards of the state budget.


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