Stanislav Bukovynsky has been elected Head of the Council of the National Bank of Ukraine (NBU), reads a posting on the NBU's Web site.

"Due to the termination of the powers of the head of the NBU Council and the appointment of its new members the new head of the NBU Council was elected at a meeting - Stanislav Bukovynsky," reads the report, referring to the results of an extraordinary meeting of the NBU Council.

At the meeting the council also agreed the appointment of Volodymyr Krotiuk to the post of First Deputy NBU Governor, the dismissal of Borys Prykhodko from the post and his appointment to the post of deputy NBU Governor.

In addition, the council agreed to the dismissal of Oleksiy Tkachenko from the post of Deputy NBU Governor.

It was also decided to create an Audit Committee of the NBU Council, which will supervise the reliability and efficiency of the internal control system, the authenticity of financial reports, the independence of external and internal audits, the provision of the observation of Ukrainian law and effectivness of risk management processes.

The audit committee will be directly subordinated to the NBU Council.

According to the NBU, the next meeting of the NBU Council is to be held on April 24: it is planned to discuss the state of the monetary and credit policy in 2013.