BoE recognises Ukrainian bail-in at centre of dispute

The National Bank of Ukraine
The National Bank of Ukraine
Oksana Parafeniuk

The Bank of England has recognised the Ukrainian central bank’s decision to “bail in” $595 million of loans from a UK-based company to fraud-hit lender PrivatBank.

The BoE announced today (14 May) that it was formally recognising the decision by the National Bank of Ukraine to bail in the loan. It said the UK’s Treasury had also approved its recognition of the NBU decision.

The decision effectively means that one of the world’s leading central banks has recognised the process used by the NBU

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