The National Bank of Ukraine has streamlined the rules governing the application of enforcement measures against banks.

In particular, the NBU has granted an exemption from the rules in case when a bank is placed under special supervision and an overseer is appointed to the bank to which the NBU has provided a loan to support its liquidity. From now on, the disbursement of a loan to the bank to support its  liquidity via standard liquidity management instruments  shall not constitute grounds for placing a bank under special supervision and appointing an overseer to this bank.

The NBU has also applied the principle of equal treatment when it comes to the imposition of penalties for the violation of the AML/CFT compliance laws and regulations. Previously such penalties were calculated as a percentage of the bank’s registered authorized capital. From now on, penalties shall be capped at the maximum penalty amount applicable  for a certain type of violation of the AML/CFT compliance requirements.

The aforementioned amendments to the Regulation On Application by the National Bank of Ukraine of the Enforcement Measures are introduced  by   NBU Board  Resolution No. 84 of 31 August 2017, which  shall come into effect  on the day following its official publication.

This resolution has also  aligned the Regulation On Application by the National Bank of Ukraine of the Enforcement Measures  with the NBU regulations on credit risk assessment.