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Mass layoffs at NBU: Director of Financial Stability Department leaves the regulator

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Vitalii Vavryshchuk, Head of the NBU Financial Stability Department. Photo: Facebook

Vitalii Vavryshchuk, Head of the NBU Financial Stability Department. Photo: Facebook

The scandal over powers at the National Bank is gaining momentum. In the evening of June 30, another Director of the Department, Vitalii Vavryshchuk, announced his willingness to quit. Not long before that, all the Licensing Department managers resigned from the National Bank due to the threat of the banking reform rollback.

Vavryshchuk heads the Financial Stability Department that is part of the Monetary Stability bloc. This area belongs to the sphere of competence of Dmytro Solohub, the Deputy Chairman of the NBU, who will also leave the National Bank on July 11.

In his report about the dismissal, Vavryshchuk stated that he fully shares the opinion of the Licensing Department leadership and its Head Oleksander Bevz about the state of affairs in the National Bank. Vavryshchuk did not specify the date of his dismissal, however, he said that he would discuss his resignation with the new curator of the Department—Solohub's successor as Deputy Chairman of the NBU.

Context. On June 30, the Licensing Department management announced that it was leaving the National Bank in full. The financiers said the reason for the dismissal was disagreement with the current policy of the NBU and the concentration of decision-making powers in the hands of the regulator’s Governor Kyrylo Shevchenko.

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