The First Deputy Head of the NBU Kateryna Rozhkova has been stripped of her key authorities

UKRAINE - In Brief 21 Oct 2020 by Dmytro Boyarchuk

NBU Governor Kyrylo Shevchenko took away from the First Deputy Head of the NBU Kateryna Rozhkova her traditional authority over banking supervision, according to the NBU press-release today. Rozhkova from now will be dealing only with supervision of non-banking institutions. Recall last Friday, on October 16 the NBU Council was expected to dismiss Kateryna Rozhkova and, probably, the Deputy Head Dmytro Sologub. However, something had happened, and the NBU Council meeting was cancelled. Very likely the step back took place after a noisy discussion of the potential decision in the media. But, as we see, Kyrylo Shevchenko decided to approach the problem from a different side. He left Rozhkova in place but stripped off her key authorities. Nominally nothing critical happened, and everyone is in place. But in essence both Rozhkova and Sologub from now have a rudimentary role at the NBU. The development is in line with our expectations.

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