Ruling that the Deposit Guarantee Fund is unconstitutional would have a cataclysmic impact on Ukraine’s financial system,

Ruling that the Deposit Guarantee Fund is unconstitutional would have a cataclysmic impact on Ukraine’s financial system, Kyrylo Shevchenko, Governor of National Bank of Ukraine, warned the Constitutional Court Sept. 15. The central bank head said: “I am absolutely sure that the recognition of this law as unconstitutional will destroy the system of guaranteeing individuals’ deposits, undermine confidence in the banking system, make the system as vulnerable as possible and harm the interests of millions of depositors.”