NBU chief's two deputies see no-confidence vote by Council

REUTERS

The Council of the National Bank at a meeting on October 2 reprimanded and expressed no confidence in first deputy NBU Governor Kateryna Rozhkova and Deputy Governor Dmytro Solohub.

That's according to a report published on the regulator's website.

The move to reprimand the two top managers is due to their " violation of NBU's regulatory acts, the NBU Employee Ethics Code, internal regulations for NBU staff, and breach of the Labor Code requirements."

Read alsoFour credit unions cease operations – National BankThe NBU Council has also voted to express no confidence in Rozhkova and Solohub.

NBU Council: Memo

• The Council of the National Bank is responsible for the development of the Basic Principles of Monetary Policy, overseeing the implementation of monetary policy.
• In addition, the Council oversees the NBU's internal control system.
• The NBU Council consists of nine members: four appointed by the Verkhovna Rada and four – by President, while NBU Governor is part of the Council ex officio.