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Ukrainian Bank groups under the surveillance of National Bank of Ukraine

National Bank of Ukraine released a list of bank groups which will be under the extra surveillance

National Bank of Ukraine started to release the information about bank groups on its site. The release is performed according to implementation of requirements of Act of Ukraine “Concerning the Introduction of Amendments to Certain Legislative Acts of Ukraine against Development of Deposit Guarantee System of Private Persons and Removal of Insolvent Banks from the Market”.

The low provides that group membership, apart from the banks and financial groups include companies, which are not ranked as financial, but which consider delivery of financial services as a predominant area of focus.  For it, the fraction of income from implementation of financial services, according to the results of the previous accounting year should be equal to 50 or more percent from the overall volume of the net profit from the product implementation.    

This bank groups are under an extra surveillance of NBU. And that is how, on the basis of data reporting of bank group members, the consolidated statements should be written. Apart from that, NBU has a right to set requirements to the group concerning the existence of effective system of corporative management, risk management, sufficiency of regulatory capital, prudential standards etc. Also there is a chance that over the certain kinds of activity, including the activity on the territory of foreign countries, will be set some limits and qualifications.

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