In opening remarks at the annual research conference with Narodowy Bank Polski, the National Bank of Ukraine urged central banks to expand their preparedness for existential or system-altering shocks, whose effects can cross critical thresholds and disrupt the foundations of economic and financial systems. Central banks should assess both the probability and potential scale of such events while adapting their tools and capabilities without losing clarity of objectives, institutional independence or accountability. Drawing on Ukraine’s experience during Russia’s full-scale invasion, the remarks highlighted the continued operation of banking and payments, preservation of financial stability and international reserves, and restoration of effective monetary policy. They also called for stronger analysis of systemic interdependencies and critical infrastructure, alongside clear human accountability for artificial intelligence and other technologies used in central bank analysis and decision-making.
2026-09-22National Bank of Ukraine
National Bank of Ukraine urges central banks to prepare for system-altering shocks
The National Bank of Ukraine urged central banks to prepare for existential or system-altering shocks by assessing their potential scale, thresholds and systemic effects. It emphasized flexible tools anchored in clear objectives, independence and accountability, including human responsibility for decisions informed by artificial intelligence.