The NBU's Balance Sheet: Before, During, and After the Crisis

Iryna Kachur, Volodymyr Lepushynskyi () and Robert Zammit
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Iryna Kachur: National Bank of Ukraine
Robert Zammit: Bank of England

Visnyk of the National Bank of Ukraine, 2016, issue 237, 6-19

Abstract: Looking at the evolution of the central bank's balance sheet gives us a unique window on the forces that have shaped our economy and central bank reaction functions. This paper considers the evolution of the NBU's balance sheet over the period from 2001-2016, focusing on explicit and implicit monetary policy priorities at different periods. We then make simulations on the NBU's balance sheet for the next five years assuming current NBU priorities for monetary policy. We then draw conclusions on the likely financial position of the NBU in the future and recommendations to ensure the NBU's financial strength - essential for its continued independence.

Keywords: Central bank finances; National Bank of Ukraine; balance sheet; central bank independence; monetary policy (search for similar items in EconPapers)
JEL-codes: E58 E61 G01 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ukb:journl:y:2016:i:237:p:6-19

DOI: 10.26531/vnbu2016.237.006

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