Fourth NBU board member gets resigned

The Council of the National Bank of Ukraine (NBU)
accepted on Aug. 26 a request by Roman Borysenko to dismiss him from the
position of NBU deputy governor, the regulator’s website reported the same day.
Borysenko, appointed to his position in October 2016, was responsible for the
NBU’s internal operations, reporting and human resources.

With this dismissal, the NBU has lost four old board members
in just two months, out of six members total (the NBU is adopting all its
decisions by simple majority vote of six board members, including the NBU
governor and five deputy governors). Recall, in July, Ukraine’s parliament
replaced NBU head Yakiv Smoliy (who asked to resign) with Kyrylo Shevchenko. After that,
the NBU council replaced NBU board member Oleg Churiy (whose term expired in
July) with Yuriy Geletiy. Later on, the NBU council replaced board member
Serhiy Kholod (who asked to resign) with Oleksiy Shaban.

Alexander Paraschiy: The latest
resignation won’t lead to significant changes in the NBU’s board, where the new
governor has already his own loyal majority. As Borysenko’s role in the NBU’s
key policies was minimal, his dismissal won’t attract the attention of IFIs.
Meanwhile, the NBU board still has two old members responsible for two key
directions: supervisory of the banking system and monetary policy.