The National Bank strengthens supervision of banks – this is one of the demands of the IMF
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The National Bank (NBU) is creating the Department of Integrated Supervision of Banks and the Department of Monitoring of Bank-Related Persons to strengthen supervision of the financial market in accordance with the IMF’s requirements.
She reported about it press service regulator.
In order to strengthen supervision, the Department of Banking Supervision will be reorganized and the Department of Integrated Supervision of Banks and the Department of Monitoring of Persons Associated with Banks will be created within the structure of the NBU.
The new department will not only continue to perform all the functions of the Department of Banking Supervision, but will also perform certain functions related to the supervision of payment service providers, the NBU notes.
It will supervise the activities of payment service providers, monitor their compliance with prudential standards, analyze performance indicators, monitor compliance with capital requirements, and monitor reporting by financial service providers.
The monitoring department of persons connected with banks will be engaged in identifying signs of connection of persons with banks, preparation of proposals for identification of persons connected with banks and monitoring of transactions of banks with persons connected with the bank.
Such changes take into account the results of the joint work of the NBU and experts of the International Monetary Fund (IMF) on issues of strategic planning of banking supervision functions. In particular, such an obligation is recorded in the Memorandum on the Economic and Financial Policy of Ukraine with the IMF dated March 24.
The new structures are part of the “Prudential Supervision” vertical, which is managed by the Deputy Chairman of the National Bank, Dmytro Oliynyk. The NBU also offers a search for the head of the newly created department.
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