Here is the translation of the description of the Resolution of the Board of the National Bank of Ukraine:<\/p>\n
1. **Essence of the Law:** The resolution introduces amendments to the Regulation on Licensing of Banks in order to harmonize licensing procedures with the legislation of Ukraine in the field of rating and the norms of European legislation regarding credit rating agencies.<\/p>\n
2. **Structure and Main Provisions:**
\n * The changes concern the requirements for credit ratings, in particular, the definition of the investment grade credit rating.
\n * It is specified which rating agencies have the right to determine or confirm credit ratings for the purposes of bank licensing.
\n * References to the requirements for legal entities that have an investment grade credit rating are excluded from certain clauses of the Regulation.
\n * The procedure for reviewing documents submitted before the resolution comes into force is established.<\/p>\n
3. **Key Provisions for Use:**
\n * Credit ratings for bank licensing purposes must be determined or confirmed by rating agencies authorized in accordance with the Law of Ukraine “On Rating”.
\n * The changes must be taken into account when submitting documents for bank licensing and when assessing the compliance of credit ratings with the requirements of the law.
\n * The resolution comes into force on January 1, 2026, therefore, it is necessary to take into account the transitional provisions regarding documents submitted before this date.<\/p>\n