KIEV, Oct. 4 – The banks have temporarily increased rates for short-term deposits, waiting for a decrease in the cost of money, bankers said at a roundtable in Kiev.

"The reduction in the deposit base is a large problem for the banking system. The reasons are the distrust to the financial system and the negative expectations some depositors have," Nadra Bank Chairman Dmytro Zinkov said.

He said that if in August 2012 banks attracted three-six-month deposits at the increased rates, in September the highest rates were set for three-month deposits, and at present, for deposits with the 1-1.5-month term.