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The Resolution of the Board of the National Bank of Ukraine No. 119 dated September 28, 2024, relates to the approval of amendments to the Rules for the Organization of Statistical Reporting submitted to the National Bank of Ukraine. This document aims to enhance the procedures for collecting and processing statistical information necessary for the regulatory and supervisory functions of the National Bank.
Main Provisions of the Resolution:
- Approval of Amendments to the Rules: The amendments pertain to the rules for organizing statistical reporting, which were approved by the Board of the NBU on November 13, 2018, No. 120. The new amendments are aimed at updating and improving existing norms.
- Recognition of Certain Resolutions as Invalid: Resolution No. 119 recognizes the resolutions of the NBU Board No. 154 dated December 26, 2018, and No. 55 dated April 1, 2019, as invalid. This means that the relevant provisions of these documents are no longer in effect.
- Control over the Implementation of the Resolution: The responsibility for monitoring the implementation of this resolution is assigned to the Deputy Governor of the NBU, Serhii Nikolaiychuk.
- Date of Entry into Force: The resolution comes into effect on November 1, 2024.
Main Changes to the Rules for the Organization of Statistical Reporting:
- The list of regulatory acts referenced in the Rules has been clarified and supplemented, including references to the Law of Ukraine “On Electronic Identification and Electronic Trust Services” and “On Financial Services and Financial Companies.”
- The list of terms and definitions used in the Rules has been expanded for greater clarity and explanation.
- New categories have been added to the list of respondents, such as:
- Cash processing companies and carriers that have obtained an NBU license for cash operations.
- Resident legal entities participating in payment systems for which the NBU has entered information into the Register of Payment Infrastructure.
- Amendments have been made to the procedure for submitting and adjusting statistical reporting, including clarification of submission deadlines and the process for making changes.
- The tables and appendices to the Rules have been updated, including the addition of new lines and indicators to be submitted by respondents. For example, indicators related to liquidity coverage ratios, regulatory capital size, information about sanctioned individuals, etc., have been added.
- Some sections and appendices that have become outdated have been removed from the Rules to eliminate obsolete norms.
Expected Impact of the Resolution:
The changes are aimed at improving the process of collecting and analyzing statistical data necessary for the regulatory and supervisory functions of the NBU. This will enhance the quality and relevance of the information received by the NBU from various financial institutions and ensure compliance with international financial reporting standards.
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