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Financial Stability Council

The Financial Stability Council (FSC) was established by a presidential decree in March 2015.

The FSC identifies systemic risk and threats to financial stability and develops recommendations to minimize their impact on the financial system. The FSC is an inter-agency body and a platform for professional discussions on financial stability.

FSC decisions are nonbinding. Although the FSC does not interfere with the activities of its constituent bodies, it collectively develops public policy proposals that pursue financial stability.

The FSC holds financial stability meetings at least once a quarter.

Information, analytical, and logistical support of the FSC’s activities is provided by the NBU.

In order to be effective, the FSC has established several working groups (committees). The groups aim at developing mechanisms for cooperation and coordination of actions to ensure financial stability in Ukraine, and preparing recommendations for mitigating systemic risks to the stability of Ukraine's banking and/or financial system. It is at the committee level that various the regulators coordinate their legislative and regulatory proposals regarding finance.

​​​​​​​FSC committees
Committee for the Resolution of Nonperforming Loans at State-Owned Banks

The main task is to develop and provide recommendations to the governing bodies of state-owned banks with regard to:

  • strategies, policies, methodologies, and procedures for NPL resolution
  •  possible terms of restructuring (sale of rights of claim, out-of-court settlement of creditor’s claims, enforcement, cancellation of part of the debt, conversion of debt into capital, etc.)
  • application by the bank of measures (methods) to reduce credit risk
  • application of procedures for resolving NPLs
  • application of financial restructuring procedures.

Committee Composition: Chairman, Deputy Chairman, and members are representatives of the Ministry of Finance of Ukraine, the NBU, the Deposit Guarantee Fund, the Office of the President of Ukraine and law enforcement authorities.

Financial Development Committee

Main tasks:

  • identifying directions and priorities for implementing the Strategy of Ukrainian Financial Sector Development
  • facilitating the coordinated implementation of the measures stipulated in the Strategy of Ukrainian Financial Sector Development, and monitoring the effectiveness of their implementation
  • reviewing proposed action plans for the financial sector’s development.

Committee Composition: Chairman, Deputy Chairman, Secretary, and members are representatives of the Ministry of Finance of Ukraine, the NBU, the Deposit Guarantee Fund, the National Securities and Stock Market Commission, the Ministry of Economy of Ukraine.