OREANDA-NEWS  On 14 October was announced, that the National Bank of Ukraine is to implement series of measures to save the banking system of this country. At the meeting held October 10 with Victor Yuschenko, the President of Ukraine, Valdimir Stelmark, the NBU governor, received instructions to stabilize the financial market situation within the next two weeks. On Saturday, as a result of the long-lasting meeting of the officials representing 50 Ukrainian banks with the NBU management, a draft urgent decree of the NBU containing a number of anti-crisis measures was developed.

The regulator to maintain the stability made a decision to cut the banks freedoms dramatically. The NBU proposes to fix the loan portfolios of each commercial bank as at October 13, and recommends extending new loans only in amounts that correspond to the previously repaid ones. In case of non-compliance with this recommendation, the regulator will refuse to provide refinancing. The next measure is a moratorium on early withdrawal of deposits, except for emergency cases that must be proved. As a compensation for inconvenience, the regulator is going to raise the amount of guaranteed refund (in case of a bank bankruptcy) to UAH 150 thousand. Besides, in order to prevent speculation with foreign currency the NBU suggests setting a 4% spread in the spot market.

Anatoly Shapovalov, the first deputy governor of the NBU, confirmed that the anti-crisis measures were developed and promised that the final version of the decree will be approved October 13. The banker have positively reacted to the regulators actions.