The National Bank’s press service reports.
“On March 2, testing started with the National Bank of the reporting process by non-bank financial institutions (NFUs), the regulation and supervision of which will be transferred to the NBU by the National Commission, which implements state regulation in the field of financial services within the“ split ”project, as of July 1, 2020. , – the message says.
The test reporting will allow the NFU to adapt to the data format used by the NBU, with the list of reporting indicators remaining unchanged until the end of 2020.
Read also: NBU fines three banks per million
During the test period (until July 1, 2020), the National Bank’s dedicated reporting resource portal.bank.gov.ua (hereinafter referred to as the “web portal”) will operate in the mode of receiving, checking reports, providing error reports.
Test reports will be submitted for Q4 2019. The deadline for submitting test reports is not limited to existing regulations.
For the convenience of the NFU, the National Bank’s website contains a register of test report files and basic requirements for their formation, including: descriptions of indicators and controls for these indicators, guides for the formation of indicators with a list of metrics (measurements), descriptions of parameters (possible sections of information ), unclassified metric details, reporting instructions, and more.
The existing reporting forms will gradually be adapted to the NBU data format and the relevant registers will be placed on the site. This will allow testing on the entire set of reporting indicators and most effectively start reporting to non-banking financial companies with the National Bank from 1 July 2020.
A video tutorial on the reporting process will also be posted soon on the National Bank’s social media pages and site.
Read also: As of April 1, payments through the National Bank will be available in 23/7 mode
As reported by Ukrinform, on September 12, 2019, the Verkhovna Rada adopted the Law “On Amendments to Certain Legislative Acts of Ukraine on Improving Functions in State Regulation of Financial Services Markets”. The purpose of the law is to reduce the number of regulators and regulators by allocating the functions of the National Commission for State Regulation in the Financial Services Market among other regulators.
According to the law, from 1 July 2020 the National Bank will become the regulator of insurance, leasing, financial companies, credit unions, pawnshops and credit bureaus, and the NCSSMC will regulate non-state pension funds and construction financing funds.