Home » Information materials » Official information » Archive » 2018

NBU Develops Guidelines for Risk Management in Payment Systems

2 July 2018



The National Bank of Ukraine (NBU) developed the Guidelines for risk management in payment systems established by Ukrainian banks and non-bank institutions.


The document has been drafted to support the constructive dialogue and partnership with the payment market’s participants, improve the operation of payment systems, and decrease their risk level. The implementation of the Guidelines will contribute to the effectiveness of risk management in payment systems.


Payment and settlement systems are key to the Ukrainian economy, as they enable money transfers among economic entities and settlements on liabilities that arise from economic activities.


Reliable and effective payment systems are crucial for the stable operation of the financial system and the country’s economy as a whole.


However, payment systems are a risky area. This is primarily due to the complexity of procedures and instruments used by payment institutions, the high mobility and speed of settlements, the rapid development of new technologies, the development of remote banking services, etc.


Risks and their actualization are thus more likely to occur, which can harm payment systems’ participants and users.


The Guidelines for risk management in payment systems developed by the NBU are based on the best international practices of central banks and the approaches of the experts of the World Bank’s and IMF’s missions on payment systems oversight.


The Guidelines are intended for practical use by the payment institutions of resident payment systems and will help improve the quality of documents that are submitted to the NBU under the law.


The NBU’s Guidelines contain general information on the risk management system, payment systems’ risks (legal, financial, commercial, operational, etc.), and the mechanisms of their management.


As a side note, the Comprehensive Program of Ukrainian Financial Sector Development Until 2020 provides for the improvement of payment systems oversight in terms of risk management.


Last modification   02.07.2018