Purpose. Supporting the NBU in its efforts to align the regulatory and supervisory framework applicable to credit institutions with EU standards by addressing existing discrepancies/identified gaps, including through conducting an expert review of the NBU’s self-assessment and making necessary updates to it following an additional comprehensive assessment, drafting targeted regulatory provisions on securitization, additional reviews of existing regulations, providing assistance in aligning the supervisory framework for credit institutions in Ukraine with EU best practices, and assistance in the formal equivalence assessment process.
Products implemented for the NBU, and key events:
- the NBU’s self-assessment and comprehensive assessment in accordance with the European Banking Authority’s (hereinafter referred to as the EBA) methodology (standard questionnaires) and an additional comprehensive assessment, including updating the relevant areas of the self-assessment (expert review), filling out EBA questionnaires, and carrying out a comprehensive assessment as part of the official equivalence assessment process were supported;
- legal support, advisory services on banking supervision and regulation to address identified gaps in comparison with the EU prudential regulatory framework for banks were provided
- support for the adaptation of the banking supervisory system in Ukraine to EU best practices, including key elements of the supervisory review and evaluation process (SREP) was provided.