The Deposit Guarantee Fund, a state agency headed by Svitlana Rekrut, is in charge of selling off assets belonging to insolvent banks to compensate depositors and creditors.
Seven years after “bankpocalypse,” the orgy of insider lending and bank fraud that left only 73 banks standing from a high of more than 180 on the market, the Deposit Guarantee Fund sees an end in sight to its attempt to recover at least a fraction of the estimated $20 billion in taxpayer losses.
The institution has been working its way through 97 insolvent banks, trying to sell off their mountain of assets, once estimated to be worth $18 billion. Today, 51 banks have been completely liquidated, leaving several dozen more and about $3.6 billion to get through.