Ukrainians cash out UAH 35.5 bln since start of hostilities – NBU Council head

Ukrainians have withdrawn UAH 35.5 billion from their hryvnia accounts since the beginning of hostilities, Bohdan Danylyshyn, head of the Council of the National Bank of Ukraine (NBU), said on Thursday.

"Excess liquidity helps banks to perform payment functions without hindrance even in the conditions of the hryvnia outflow into non-bank cash circulation, which has exceeded UAH 35.5 billion since the start of hostilities," he wrote on Facebook on Tuesday.

According to Danylyshyn, the high level of banking system liquidity determines the retention of rates on interbank transactions at a level of a lower limit of the rates on permanent access operations of the NBU (9%) and the reduction in banks' demand for NBU refinancing loans, which are provided at a rate of 11%.

He added that the volume of liquidity of the banking system placed on correspondent accounts and NBU certificates of deposit increased to almost UAH 200 billion as a result of a reduction in the balance of funds in the government's treasury account.

Source: www.en.interfax.com.ua