Photo from UNIAN
Nationalized PrivatBank has become Ukraine's second bank that will be able to handle the cash reserves of the National Bank of Ukraine (NBU) under authority of the latter, as well as provide regional banks with cash and take surplus from them, according to the NBU's website.
"The National Bank continues to delegate part of its functions that it currently performs in the regions to other banking market players, as part of the cash circulation management concept being implemented in Ukraine ... This will enable the gradual transfer from the model of partial control over cash circulation that exists in Ukraine so far to the authority delegation model," the press service said in a statement.
Read alsoPrivatBank selects McKinsey&Company to develop strategy As UNIAN reported, state-run Oschadbank had earlier received similar status as an authorized bank to storage the regulator's cash reserves.