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National Bank of Ukraine Continues to Implement Risk-Based Approach for Financial Operations of Bank Customers

23 February 2018

Press Release


The National Bank of Ukraine (NBU) does not compel banks to analyze in-depth financial operations of subsidiaries and affiliated resident companies of international corporations from the Forbes Global 2000.


These corporations operate in line with the standards generally accepted by the global community and according to the maximum transparency principle thus rendering such transactions low risk.


That is why, their subsidiaries and affiliated companies were listed as exceptions not subject to Regulation On Banks’ Analysis and Verification of Documents (Information) Regarding Financial Transactions and Their Participants approved by NBU Resolution No. 369 dated 15 August 2016. Previously such exemptions were applied only to nonresident companies from the Forbes Global 2000 list.


Besides, the NBU authorized banks during assessment of operations’ risk level to consider geographical risks at their own discretion and draft individual list of rogue states (territories) by using all available sources of information i.e. from lists compiled by authorities to information received from any other sources.


Following the market proposals the NBU also harmonized the numbering system of indicators in Regulation No. 369 and in statistical reporting. Harmonization will foster automated compiling statistical reporting in banks and minimize errors in statements.


Respective amendments were introduced by NBU Regulation On Amendments to Provisions on Analysis and Verification by Banks of Documents (Information) Regarding Financial Transactions and Their Participants No. 16 dated 22 February 2016. The amendments enter into effect as of 24 February 2018.


Last modification   23.02.2018