This week saw the end of the date of the first reporting to the new regulator by non-bank financial institutions in a new format.
The NBU has accepted reports from more than 84% of financial institutions
As of July 28, 2020, according to preliminary data of the NBU reporting system for the first half of 2020, more than 84% of institutions registered on the NBU web portal reported. A total of 1,809 non-bank financial institutions were registered on the regulator’s web portal.
Landlords (98%), credit unions (92%), insurers (90%) and pawnshops (88%) were the most active in reporting. The share of insurance and / or reinsurance brokers that submitted reports is 77%. The worst situation with reporting was in financial companies (61%).
Institutions that have not submitted reports are required to submit them as soon as possible
Reporting to the National Bank is a mandatory requirement for non-bank financial institutions. The submission of corrected reports, which was not carried out in time, should be made as soon as possible.
To adjust and submit reports after the deadline, institutions must comply with the requirements of Section I, paragraph 10 of the Instructions on reporting by non-bank financial institutions to the National Bank of Ukraine .
Only companies registered on the NBU web portal have the opportunity to submit reports. Financial institutions that have not yet registered on the NBU’s web portal for reporting need to do so urgently. The registration procedure is given in the above instructions.
Performance indicators of financial markets will be published after the processing of reports
Today, NBU specialists process the reports received from non-bank financial institutions for their completeness and compliance with current legal requirements. Later, the regulator plans to publish a general report with consolidated reporting data of non-banking financial markets for the first half of 2020.
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