The NBU introduced additional reason for unscheduled bank inspection in order to strengthen depositors’ and creditors’ protection. In particular, the NBU will have the right to decide on unscheduled inspection, if a review of the bank’s compliance with requirements and limits set by the regulator is needed.
Additionally, the NBU allowed presence of the representatives of the inspected bank during the meeting of the Committee on Banking Supervision and Regulation and Oversight of Payment Systems when the inspection results are discussed. The representative may be invited by the NBU or on the initiative of the inspected bank.
The above amendments were introduced to the Regulation on Organizing and Conducting Inspections approved by NBU Board Resolution No. 136 of 12 December 2018 that comes into effect on 15 December 2018.