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Ukraine Central Bank Gets Tough With Owners of Private Banks

Ukraine will closely track assets belonging to owners of banks to stop the offering of sweetheart loans to shareholders – a practice that helped bankrupt 40 percent of the banking sector, a deputy governor of the central bank said. So far the regulator has been praised for its clean-up of banks, required under a $17.5 billion IMF-led bailout program, which since early 2014 has closed 70 insolvent lenders that had become little more than personal piggy banks for their owners. The...

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