The Board of the National Bank of Ukraine adopted Resolution No. 387 of 20 September 2012 “On Amendments to the Regulation on the Procedure for Carrying out On-site, Off-site Inspections to Oversee the Compliance by Banks, Other Financial Institutions and the National Operator of the Postal Service with the Requirements of the Currency Laws of Ukraine and Inspections of Currency Exchange Offices in the Territory of Ukraine” (hereinafter referred to as Resolution No. 387), registered with the Ministry of Justice of Ukraine on 3 October 2012 under No. 1686/21998.

Resolution No. 387 shall take effect from the date of its official publication – 19 October 2012.  

In accordance with Resolution No. 387, the Regulation on the Procedure for Carrying out On-site, Off-site Inspections to Oversee the Compliance by Banks, Other Financial Institutions and the National Operator of the Postal Service with the Requirements of the Currency Laws of Ukraine and Inspections of Currency Exchange Offices in the Territory of Ukraine (hereinafter referred to as the Regulation) has been amended to include the rule determining the inspection period. The period already covered by the inspection shall not be included in the next inspection period in respect of the issues that have already been covered by the previous inspection.

However, the above-mentioned rule shall not apply to cases where during the previous inspection of a bank/ financial institution the Working Group (authorized employer) was refused permission to carry out an inspection or the Working Group (authorized employer) was refused access to information and documents required to carry out an inspection.