The National Bank of Ukraine has become a member of the Basel Consultative Group established at the Basel Committee on Banking Supervision.
The Basel Consultative Group aims to facilitate supervisory dialogue with non-member countries on new committee initiatives by engaging senior representatives from various countries, international institutions and regional groups of banking supervisors that are not members of the committee. The Basel Consultative Group comprises central banks and supervisory authorities from 28 countries, with the NBU being one of its members.
Meetings of the Group take place three times a year. The NBU in the Basel Consultative Group will be represented by Director of Financial Stability Department Vitalii Vavryshchuk.
The NBU’s accession membership of the Basel Consultative Group will provide the NBU with an opportunity to participate in broad supervisory dialogue, share opinions and experience on the implementation of banking regulation and supervision,” said Mr Vavryshchuk. “Going forward, the NBU will be able to join efforts to develop initiatives of the Basel Committee at an initial stage, put forward its proposals and express its vision, taking into account banking supervision in developing economies.