Sergei Yaremenko: Withdrawal of deposits provokes continuing financial crisis

- In this situation, there is no alternative. In general, in Ukraine there was a problem caused by the monetary and currency policy of the NBU for 2005-2008. This policy has led to financial collapse and put it in the fall of the exchange rate at the beginning of the destruction of the financial system and, in particular, banks. As a result, investors appeared panic and a desire for withdrawal of deposits. Withdrawal of contributions provokes continuing financial crisis and could lead to complete destruction of the country's financial system. Almost the same regulation applies to a ban on the removal of deposits - a moratorium on the issuance of certain loans. This, in essence, the same measure that we are now trying to enter a civilized manner. Thus the economic problems are solved by a legal agreement between market participants. But if we keep this measure of potential economic problems? In general legal norm has never been a source of economic stability. -What is the likelihood of an outflow of deposits under this policy? - I do not think there will be an outflow of deposits. Will simply reformat the internal structure. In principle, the position of the corporate sector, ie banks, and forced her to do nothing, just like those of such methods at least to secure its legal status. But in this situation a lot of work on perelopachivaniyu total deposit portfolio. But I think that the behavior of the depositor upon the occurrence of any banking conflicts will still be characterized by an attempt to wrest the contribution that under no circumstances shall not be withdrawn. -The proposed National Bank of the measure - a temporary measure and it will act on a permanent basis? - No, I think this rule entrenched. In principle, I do not see anything wrong with that. I'm talking about the impossibility of using such a mechanism to solve the deeper causes of the phenomena that are, in fact, led to a state bank-client relationship. Although part of the long-term loans it will give a formal opportunity to banks to make those operations that had previously prohibited the National Bank. But then the banks' liabilities will be divided into several categories, of course, room for maneuver between the demands of enterprises in the long-term money, etc. will be very limited. Source: obozrevatel.com