Volyn residents are in a panic. The revolutionary events are accompanied by uncertainty in the political and economic situation, so many people are withdrawing money from banks. In the period from November 23 to 29, Volyn residents withdrew almost 10 million hryvnias from banks. This is despite the fact that before that, in November, the volume of deposits had been growing. According to Volyn banking institutions, depositors are terminating contracts early, partially withdrawing funds, not agreeing to deposit rollovers as was the case before, but withdrawing funds upon expiration of the contract term. This trend became especially pronounced at the end of last week and at the beginning of this one. At the regional branch of the NBU, we were told that primarily foreign currency deposits and long-term deposits are decreasing. Previously, the outflow of funds occurred mainly in demand deposits, short-term deposits, and predominantly in the national currency. To influence the situation, bankers began raising rates on short-term deposits, with some institutions raising them to 20% in the national currency and to 10-12% in foreign currency. However, according to bank data, whereas last week citizens were interested in attractive "New Year" deposit terms, today people are simply withdrawing funds. Despite queues at banks, financiers are so far not refusing people who are withdrawing money from their accounts.
VOLYN: CHRONICLE OF A BANKING PANIC

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