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Bilateral Relations

The National Bank of Ukraine actively develops its international partner network. We closely cooperate with the central banks and supervisory bodies of the financial institutions of foreign states, as well as international organizations and institutions. The bilateral cooperation enhances the NBU’s institutional capacity, establishes sustainable partnership with the world community of central banks, and proactively introduces up-to-date trends and global initiatives.

The NBU also assists in the promotion of Ukraine’s interests in international organizations, particularly the World Trade Organization and in the framework of the initiatives of the Organisation for Economic Cooperation and Development.

In addition, the NBU interacts with foreign investors, informing them on the Ukrainian economy’s condition and development trends. Being aware of the importance of objective data on the macroeconomic situation in the country in approving strategic decisions, the National Bank of Ukraine:

  • provides answers to the requests of foreign investors
  • takes part in the events of international investment firms in Ukraine and abroad
  • organizes meetings with representatives of business communities in the framework of working visits of the NBU leadership abroad
  • cooperates with rating agencies, and provides them with reliable and up-to-date information that allows them to assess objectively the condition and development prospects of the Ukrainian economy.

 

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Cooperation with Central Banks and Supervisory Authorities for Financial Institutions of Foreign States

Cooperation with central banks and supervisory authorities for financial institutions of foreign states is one of the NBU’s international cooperation vectors.

The NBU works on the development of long-term relations with foreign regulators. The cooperation should help to ensure the efficient regulation of foreign financial institutions operations in Ukraine and vice versa – Ukrainian companies abroad.

The interaction includes bilateral visits, concluding international agreements, meetings in the framework of international events, meetings of central bank advisory councils, and online conferences.

 

Membership in International Organizations

 

The NBU is a member of various international organizations that specialize in specific areas of central bank activities, and it continuously enlarges its partnership network.

Nowadays, the National Bank of Ukraine is a member of the following international organizations:

Central Bank Governors’ Club of Central Asia, the Black Sea Region and Balkan Countries

The international union is aimed at sharing experience, enhancing and widening cooperation, and coordinating the activities of the central banks-club members on various issues of central banking.

Financial Stability Board Regional Consultative Group for Europe (FSB)

The international organization of financial sector regulators of FSB member countries and non-member countries for the exchange of views on financial system risks and potential initiatives on ensuring financial stability.

Basel Consultative Group of the Basel Committee on Banking Supervision of the Bank for International Settlements (BCG)

A platform for the interaction of the representatives of different member countries of the Basel Committee on Banking Supervision of the Bank for International Settlements for conducting a broad dialogue and considering issues within new initiatives.

Irving Fisher Committee on Central Bank Statistics of the Bank for International Settlements (IFC)

A forum to exchange ideas on economic, monetary and financial statistics, and to strengthen relations between the experts of both central banks and other institutions.

Global Financial Innovation Network (GFIN)

An international initiative that aims to facilitate cooperation and exchange of experience on innovation between regulators and improve cooperation in the field of FinTech innovation between regulators and business.

Group of Banking Supervisors from Central and Eastern Europe (BSCEE)

A platform for cooperation and communication between banking supervision entities from Central and Eastern Europe to ensure the exchange of supervisory techniques, experience, information, and know-how for the best implementation of supervisory functions.

Vienna Initiative

An organization for the coordination of efforts to solve financial sector problems in the countries of the Central, Eastern and Southeast Europe.

European Fund for Southeast Europe (EFSE) Advisory Group

The organization is aimed at stimulating the long-term funding of micro and small businesses primarily, as well as private households, by providing loans from local partner credit institutions.

Note: The National Bank of Ukraine is a member of the advisory councils of the following organizations.

OECD International Network on Financial Education (OECD/INFE)

A forum for exchanging experience and best practices for financial education development. Its participants obtain access to global research and opportunities to engage in the formation of the international methodology to establish cross-comparable data on financial literacy.

Euro Area Business Cycle Network (EABCN)

A platform for the best understanding of economic cycle processes in the euro zone, sharing experiences, developing research plans, discussing economic policy issues, and the interaction of academics and central bank researchers.

International Capital Market Association (ICMA)

This organization promotes the sustainable operation of the international and globally approved transborder securities markets, which are important for the funding of sustainable economic growth and development.

International Credit Union Regulators' Network (ICURN)

This is an association of credit unions, financial cooperatives, and mutual aid funds for the exchange of experience and best practices, as well as the development of mutual solutions to improve regulatory practices.

Sustainable Banking and Finance Network (SBFN)

This is an association of regulators from developing countries intended to encourage its members to introduce practical measures in order to establish a sustainable and environmentally friendly financial system.

Network for Greening the Financial System (NGFS)

A platform for sharing experience and expansion of research in the area of the financial system ecologization (greening).

Institute of International Finance

Global community of leading financial institutions specializing in economic research, including in digital finance, capital markets, FinTech, sustainable financing.

BPS International Users Group

The purpose of the international organization is to share best practices, find new technical solutions and advancements for printing, distributing, and processing banknotes, and discuss cash cycle trends.

Task Force on Computer Security Incident Response Teams (TF-CSIRT)

Global community for combating and responding to cyber incidents.