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National Bank of Ukraine Sets out the Credit Register Framework

5 May 2018

 

The National Bank of Ukraine (NBU) has set out the organizational and regulatory framework under the Law of Ukraine On Amendments to Certain Laws of Ukraine on Establishing and Maintaining of the Credit Register of the National Bank of Ukraine and Improving Credit Risk Management of Banks.

 

In particular, the procedure was set out for:

recording/removing information (on insolvent and liquidated banks) to/from the Credit Register by a bank or the Deposit Guarantee Fund;

providing information from the Credit Register, as well as for individuals and legal entities;

recordkeeping of the register of requests from banks/ individuals or legal entities filed to the Credit Register.

 

The respective Regulation On the Credit Register of the National Bank of Ukraine approved by NBU Board Resolution No. 50 dated 4 May 2018, which shall come into effect on 6 May 2018.

 

For reference

The NBU Credit Register is to become a component of the information exchange system prerequisite for banks’ for lending operations. The purpose of the Credit Register is banks’ timely and weighted assessment of risk to contribute to reduction of distressed asset and, ultimately, enhancement of financial soundness of the banking sector.

 

 


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Last modification   05.05.2018