The wave of bank failures in Ukraine has brought over UAH400bn in losses. The banking catastrophe, which has already been nicknamed “bankollapse”, has hit the whole economy hard.
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Chief of Poland’s financial regulatory (KNF), Andrzej Jakubiak, recently sought to head off concerns that the Polish banking sector is facing rocky times ahead, saying that the system was “stable and money held in Polish banks safe.”
The Bank of National Economy (Bank Gospodarstwa Krajowego, BGK) is exempted from the tax, but participates in the creation of the WIBOR. This could disrupt the market.
The aim of the swap agreement is to support actions undertaken by the NBU to stabilise Ukraine’s financial system.