Components:
- analysis and implementation of monetary policy
- macroeconomic data and statistics
- research
- financial stability and banking supervision
- financial inclusion
- financial sector development and payment systems
- environmental sustainability
- sustainability and risk management
- human resources management and international cooperation.
This program enables the NBU to study the experience of its partners and share its own insights and expertise with the program’s participating central banks of Albania, Azerbaijan, Bosnia and Herzegovina, Colombia, Morocco, Peru, Tunisia, and Uzbekistan.
Products implemented for the NBU, and key events:
- Advisory support was provided on information security issues (enhanced user authentication in the payment market and cyber protection of critical infrastructure facilities in the banking system).
- A draft self-assessment report was prepared on the compliance of the procedure for determining, calculating, and publishing the benchmarks of the money and FX markets, which are administered by the NBU, with the principles set out in the IOSCO document: Principles for Financial Benchmarks Final Report July 2013. Recommendations were provided on how to maximize the alignment of the estimated concentration of the money and FX markets benchmarks with IOSCO standards (Self Assessment of IOSCO Conformity).
- Recommendations were provided on changes to the methodology for calculating FX market benchmarks, on the introduction of the hryvnia-to-euro reference exchange rate as a new benchmark, on changes to the methodology for calculating the official hryvnia exchange rate and identifying the principles for compiling the list of currencies that go into that calculation, and on working with errors when calculating the money and FX markets benchmarks.
- NBU representatives participated in the 12th annual BCC conference Monetary Policy in a Changed Environment, the 13th annual BCC conference Challenges from Higher Uncertainty, and the seminar Effects of CBDC Adoption on the Transmission Mechanism, in Geneva, Switzerland.
- Assistance was provided to help create a database with data from the credit registry to calculate retail-lending metrics and assess credit risk factors using the indicators from the database. Calculations of retail-lending metrics were made and factors affecting the probability of borrower default were identified. Methodological approaches were developed for calibrating retail-lending metrics.
- Two tools were built to expand the toolkit of systemic risk analysis to inform macroprudential policy, specifically Bank Capital at Risk and Share of Vulnerable Banks.
- The study Shockwaves from Ukraine: Trends and Gaps in Agricultural Commodity Prices was conducted.
- Assistance was provided in developing a methodology for calculating residential property price indices.