On 9 April 2012, the Board of the National Bank of Ukraine approved the Regulation on the Procedure for the Identification and Designation of Banking Groups (hereinafter referred to as the Regulation) by adopting Resolution No 134 (hereinafter referred to as Resolution No 134).
The Regulation has been developed to implement the Law of Ukraine No 3394-VI of 19 May 2011 “On introducing amendments to some laws of Ukraine with regard to Banking Supervision on a Consolidated Basis” and represents a step forward toward bringing the NBU regulations in line the EU regulations and the principles adopted by the Basel Committee on Banking Supervision.
The identification and designation of Banking Groups are important components of the supervisory process on a consolidated basis, which is aimed at limiting risks faced by the Group participants.
The guidelines set forth in the Regulation determine the procedure for the identification and designation of Banking Groups subject to supervision and establish requirements regarding the following:
procedure for notifying the National Bank of Ukraine of an intention expressed by a legal entity or a natural person to become a controller of a banking group and submitting information on this group to the NBU;
procedure for submitting information regarding the establishment of a banking group to the National Bank of Ukraine;
designation of a responsible person of a banking group and the procedure for approval of a responsible person by the National Bank of Ukraine;
procedure for notifying the NBU of any changes in the ownership structure of a banking group and types of activities carried out by its participants;
termination of recognition of a banking group by the National Bank of Ukraine.
The implementation of the guidelines set forth in the Regulation will enhance the soundness and stability of the banking system and strengthen the protection of interests of bank depositors, being members of banking groups.
Resolution No 134 was registered with the Ministry of Justice of Ukraine on 28 April 2012 under No 708/21021 and shall come into effect from the day of its official publication.