The NBU has clarified the
procedure for inspecting the legal entities licensed by the NBU to provide cash
collection services to banks (the CIT companies).
In particular, the NBU has:
the requirements for organization of planning and conduct of inspections of
such legal entities
the procedure for preventing an actual or potential conflict of interest of the
leader and members of an inspection group that may arise due to the inspection
● set the
deadline for the NBU to provide a legal entity with the list of documents and
other materials required for the inspection
● resolved other issues that had
occurred in the course of implementation of the procedure for inspection of the
Respective changes are
stipulated in NBU Board Resolution No. 151 On Approval of Amendments to Regulation on the
Procedure for Inspection of Legal Entities Licensed by the NBU to Provide Cash
Collection Services to Banks dated 22 December 2018.
This document comes into
effect on 11 January 2019.
The NBU has also approved the
2019 schedule of inspections of such legal entities.
purpose of enhancing the transparency of supervision of the CIT
companies’ activities, the NBU will publish such schedules annually.
In 2019, the
NBU will inspect six CIT companies. As of now, nine legal entities have been licensed by the NBU to provide cash collection
services to banks.