NBU to expel govt officials from its board, expand its powers

Tuesday, January 20, 2015 - 14:42 (EET) Section: Latest news

The National Bank of Ukraine offers to reduce the membership of the regulator’s board from 15 to nine members while expanding the board’s powers.
This was announced by director of the NBU legal department Viktor Novikov, an Ukrinform correspondent reported.
“The bill provides for the NBU board to be reduced from 15 to nine members,” he said.
According to Novikov, four members of the board will be appointed by the President and other four – by the Verkhovna Rada.
It is envisaged that meetings of the board of the National Bank will be held at least ten times a year.
The regulator management notes the need to expel members of the Cabinet, directors and deputy directors of the state authorities and state-owned enterprises from a list of persons eligible to be the members of the NBU board.
In addition, the National Bank wants the board to approve the principles of personnel policy and risk management, as well as the basic principles of the monetary policy using the forecasted macroeconomic indicators.
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