How State Commission for Financial Services Markets Will Save Credit Unions
Rating Panorama starts familiarizing viewers with heads of institutions who are in charge of regulating the financial market. This release will feature a plan of actions of Vasyly Volga, the Head of State Commission for Financial Services Markets for recovery of creditworthiness of Ukrainian credit unions.
In experts’ view the market of credit cooperation is hardly to be a perfect mechanism for resolving problems in the financial system after the crisis outbreak.
In order to help credit unions recover, Vasyly Volga suggests a plan of actions, which features establishment of a guarantee fund and system of refinancing.
According to Mr. Volga, ‘credit unions perform a very important function of micro-lending, and this sector is experiencing consequences of the crisis, though we will do everything to meet depositors’ needs.’
