The National Bank of Ukraine has developed NBU Board Draft Resolution On Approval of Amendments to the Regulation on Ensuring the Smooth Functioning of Information Systems of the National Bank of Ukraine and Ukrainian Banks  approved by NBU Board Resolution No. 265, dated June 17, 2004, and registered by the Ministry of Justice of Ukraine on 09.07.2004, as No. 857/9456 (as amended).

The Draft Resolution has been elaborated in view of the transformation the National Bank of Ukraine is currently going through to reshape the network of its regional offices that have ceased to perform the functions that used to fall within the   regional purview, and given the petitions filed by banks demanding that the regulator specify the requirements as to the location of remote hot sites and data storage locations needed to recover   the operation of a bank, as prescribed by NBU Board Resolution No.337, dated May 25, 2015.

The Draft Resolution is intended to enhance the reliability of information systems of the National Bank and banks, thus contributing to the reliability of the entire domestic banking system. 

To achieve this goal, the Draft Resolution has:

• specified the requirements as to the location of remote hot sites and data storage locations needed to recover the operation of bank information systems if a bank's hot site is located geographically in the same region as the bank;
• revised the functions that earler were performed by NBU’s regional branches to ensure the smooth functioning of information systems and provide details of how the requirements  as to ensuring the smooth functioning of information systems should be met by banks in the context of the modified structure of the National Bank.

The State Regulation through the adoption of this draft resolution is necessary given that this draft regulation contributes to safeguarding the rights and interests of economic agents  in their relations with banks by mitigating risks arising from the cessation of functioning of information systems and the loss of information from the system, which is primarily related to servicing clients.