The head of the National Bank of Ukraine, Kyrylo Shevchenko, said that the task of the National Bank and the Cabinet of Ministers is to prepare banks for crediting important projects, the press service of the financial regulator said.
“Our common task together with the government is to prepare the banking system for crediting important projects that will stimulate the economy,” Shevchenko said.
According to him, banks have enough liquidity to launch large-scale crediting program.
At the same time, the National Bank should restrict the use of securities by banks in order to stimulate crediting to the real sector of the economy.
“On the one hand, it is necessary to intensify efforts to reduce problem loans in the banking system and improve the quality of banks’ loan portfolios. On the other hand, to restrict the use of long-term securities that banks buy at the expense of free liquidity instead of crediting enterprises,” Shevchenko stressed.
The head of the National Bank also added that the macroeconomic stability of the financial sector remains a priority for the regulator.
“We should focus on supporting the Ukrainian economy […] the National Bank must create the necessary conditions for the development of crediting program,” Shevchenko said.
According to him, the National Bank will continue to support the implementation of the main directions of the Strategy of state banks.
“Further implementation of the Strategy will enhance competition, which, against the background of the monetary policy of the National Bank, will help to reduce the cost of loans for business and the population,” Shevchenko is convinced.
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