The National Bank of Ukraine (NBU) has the right to publish information on the real owners of banks and name banks which received refinancing credits, reads a post on the NBU's website, referring to First Deputy NBU Governor Oleksandr Pysaruk.

"The procedure for providing refinancing to banks will be absolutely open to the public," he said, while discussing amendments to Ukrainian law passed by the parliament in late December 2014 with bankers.

According to the report, Pysaruk also pointed out the imperfect reporting of banking discipline, which limits the effectiveness of the NBU’s early reaction system and the fulfillment of regulatory functions by the central bank in general.

"One of the strategic tasks of the NBU is the introduction of restrictions on crediting affiliated persons by banks. The conducting of such transactions in large volumes undermines the stability of the banking sector," he said.

He said that several legislative initiatives have been drawn up to allow not only the identification of affiliated persons, but also the increased punishment of owners and managers of banks for transactions with affiliated persons which result in a bank’s bankruptcy.

Pysaruk called on banks to consider the singing of a memorandum on restructuring currency-pegged credits.