Ukraine to fulfill IMF requirement to enhance banking system.

By bne IntelliNews August 11, 2010

Ukraine is going to fulfill another requirement of the International Monetary Fund to enhance the banking system. In particular, Ukraine is obliged to take measures on legislative improvement of banking regulation and supervision, and also improvement of the system of information reveal about end owners of the banks. In the frames of the memo, the National Bank is obliged to increase the level of its openness with preliminary announcement of board meetings for issues linked to interest policy. The memo also envisions that Ukraine refuses to create a rehabilitation bank in favour of so-called bridge-bank or transitional bank.

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