NBU ready to support PrivatBank with liquidity from Monday
The National Bank of Ukraine (NBU) from Monday is ready to support PrivatBank (Dnipro) with liquidity if it is required, NBU Governor Valeriya Gontareva has said.
"From Monday the NBU plans to support PrivatBank with liquidity if required for providing stable payments of deposits," Gontareva said at a briefing on Monday.
She said that she does not expect that there will be outflow of deposits, as 80% of them are fixed term deposits.
Gontareva said that the transfer of PrivatBank to state ownership is on the only option to retain the funds of depositors and stability of the financial system.
"Thus, we are protecting over 20 million of citizens who are clients of the bank. First this concerns 3.2 million of pensioners, over 500,000 students and 1.3 million other vulnerable citizens," she said.
She said that this would help to retain own funds for 500,000 of individual businessmen, 600,000 small and medium-sized enterprises (SME) and stably operate in the future and retain access to wages of 3.6 million of employees.
