Ukrainian central bank updates list of systemically important lenders

The National Bank of Ukraine removed JSC Kredobank from the list of the country's systemically important banks, the central bank said March 1.

The list, which is subject to annual review by the central bank, currently includes A-Bank, JSC Alfa-Bank, JSC OTP Bank, JSC State Savings Bank of Ukraine, PJSC Pivdennyi Bank, JSC CB Privatbank, JSC First Ukrainian International Bank, Raiffeisen Bank International AG unit JSC Raiffeisen Bank Aval, JSC Taskombank, JSB Ukrgasbank, JSC The State Export-Import Bank of Ukraine, BNP Paribas SA unit JSC Ukrsibbank, and JSC Universal Bank.

The central bank also set a systemic importance buffer requirement of 1% for A-Bank, Alfa-Bank, OTP Bank, Bank Pivdennyi, First Ukrainian International Bank, Raiffeisen Bank Aval, Taskombank, Ukrsibbank and Universal Bank; 1.5% for State Savings Bank of Ukraine, Ukrgasbank and Ukreximbank; and 2% for Privatbank.

However, the systemic importance buffer has been suspended due to challenges faced by the financial sector in relation to the COVID-19 pandemic and could be reactivated after the central bank reviews the situation in the second half of 2021.

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