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NBU Introduces Modern Approaches to Submission of Reports by Market Participants

20 November 2018

 

The National Bank of Ukraine (the NBU) has approved modern and easy to use rules for compilation and submission of statistical data to the NBU that will come into effect on 1 January 2019. 

 

In particular, new approaches include:

      starting from the beginning of 2019, data should be submitted in XML format in accordance with the international practice. Until now banks have been using a format developed for reporting by the NBU

      systematization of the statistical report indicators in a user-friendly single register that will replace the existing forms and is available on the NBU’s official website

      use of open channels for data transfer with a high level of information security: reports are submitted through the NBU’s web-portal or API, which makes the submission process easy.

 

Additionally, new rules regulate the requirement for an authorized person to electronically sign a file with the statistical indicators, and will not require further signing of the respective paper document.

 

The draft rules have been discussed with the banking community on several occasions. The new rules will make the updating process of the reporting requirements more flexible in the future and increase the data quality through improvement of control algorithms during compilation of statistical reports. It will foster implementation of the generally recognized world practices and lay the foundation for the shift to the NBU’s reporting to European regulators.

 

Additional information is available in Ukrainian on the NBU’s website in the section ”Statistics – Statistical Reporting Framework“.

 

The mentioned rules are approved by NBU Board Resolution No.120 On Approval of the Rules of Statistical Reporting Submitted to the National Bank of Ukraine dated 13 November 2018. The Resolution comes into effect on 1 January 2019.

 

The Rules Governing the Compilation and Submission of Reporting Forms to the National Bank of Ukraine approved by NBU Board Resolution No. 129 dated 1 March 2016 are currently in force.

 


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Last modification   20.11.2018