Purpose. Fortify Ukraine’s financial sector as a driver of economic growth by implementing reforms to enhance financial stability, promote sustainable development of the banking sector, and diversify the financial system.
Finance for Development project: extension of the Remittances and Payment Program, 2015–2022.
Components:
- DFS
- CBDC.
Products implemented for the NBU, and key events:
Integrated Supervision Platform (ISP) Implementation pillar:
- A number of seminars on ISP implementation were held with expert support from the ECB, the Bank of England, and the National Bank of Moldova.
- Expert advice was given on how to prepare an ISP/RegTech concept or white paper.
- The Roadmap to Implement ISP Supervisory Decisions was developed.
- Expert advice was provided on certain issues and the preparation of ISP development specifications to hold a tender to procure ISP development services.
Faster Payment System (FPS) pillar:
- A draft FPS concept was developed.
- Requirements for user experience in instant payments were discussed.
- Expert advice was given on the rules for generating and using QR codes for credit transfers.
Payment Systems pillar:
- Expert advice was given on how to assess compliance with SEPA accession criteria.
- Expert advice was received on how to modernize the NBU’s BankID System in terms of developing digital signature forms.
- Expert recommendations were provided on how to identify mechanisms for managing, minimizing, and eliminating the effects of overall business risk on a central bank’s payment system.
CBDC pillar:
- Assistance with the implementation of the E-Hryvnia pilot project was provided.
- Expert advice was given on providing a technological platform or technology for the pilot project, conducting an overall assessment of its results, and drawing up joint conclusions.