On 19 January 2016, the Board of the National Bank of Ukraine issued Resolution No. 15 On Approval of Amendments to the Regulation on the Procedure for Regulation of Banking Groups’ Activities.

This resolution has been adopted with the aim of complying with the requirements of Law of Ukraine No. 629-VIII On Amendments to Certain Legal Acts of Ukraine in Respect of the Improvement of the Individual Deposit Guarantee System and the Resolution of Insolvent Banks and bringing some provisions of this regulation into line with other NBU regulations.

Resolution No. 15, inter alia, has:

• Mandated that the amount of uncovered credit risk (the amount by which the amount of credit risk arising from asset-related operations exceeds the amount of provisions set aside against these operations in accordance with IFRS) be included in the calculation of regulatory capital adequacy ratios;
• Stipulated that banks shall calculate Q4 prudential ratios based on data from annual consolidated financial statements;
• Specified the rules governing the compilation, submission, and disclosure of consolidated financial statements; and
• Specified the procedures for identifying banking group's related parties and the methodology for calculating prudential ratios. Given that the Guidelines on the Compilation and Publication of Financial Statements by Ukrainian Banks have been amended, this resolution has  abolished the requirement for banking groups to compile and submit  interim consolidated financial statements for the fourth quarter.   The resolution has also mandated that banking groups publish annual consolidated financial statements, along with an audit opinion, no later than 1 June of the year following the reporting year