Martial law and the closing of the Ukraine unit of Russia’s VTB bank have not caused a run on bank deposits

Thursday, November 29, 2018
Martial law and the closing of the Ukraine unit of Russia’s VTB  bank have not caused a run on bank deposits

Martial law and the closing of the Ukraine unit of Russia’s VTB bank have not caused a run on bank deposits in Ukraine, according to Kateryna Rozhkova, first deputy governor of the National Bank of Ukraine. “Not a single bank turned to the NBU these days for liquidity support,” Rozhkova wrote on Facebook. She said that the withdrawal of 2% of bank deposits in recent days was largely attributed to consumer paying for Black Friday purchases.

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