As a result of these changes, fewer divisions are subordinate to the head of the NBU.
The National Bank of Ukraine has partially updated the distribution of the verticals of subordination to ensure a proportional managerial burden and a functional principle of distribution of powers between members of the National Bank’s board.
In particular, it was decided to divide the functions of the methodology for the regulation of activities and supervision of banks and non-banking institutions between various verticals of subordination.
The National Bank believes that such a decision will provide more effective support for legislative changes in the non-bank financial market, which are being prepared in close consultation with international partners, and should determine new rules for its regulation.
The Board of the National Bank made this decision collectively and formed a subordination structure that will ensure the effective development of the financial ecosystem, which, among other things, provides for the improvement of banking and non-banking supervision and methodology.
This is the goal set by the Board of the National Bank, working on a new four-year NBU Strategy. It will also allow to continue enhanced control over the non-banking segment, which is in the process of rapid reform, notes the NBU.
The vertical “prudential supervision and general issues” is divided into two verticals “prudential supervision” and “General block”.
The “General block” vertical, which remained under the control of the head of the NBU, includes the following divisions: security department, personnel department, legal department, internal audit department, communications department, financial and operational risk department, NBU office, secretariat of the NBU Council, consumer protection department financial services, security department, corruption prevention and detection department.
The following structural divisions now belong to the “prudential supervision” vertical: the banking supervision department, the field inspections department, the licensing department, the non-banking services market supervision department, and the financial monitoring department.
From today, the financial, administrative and operational block is subordinate to the First Deputy Chairman of the NBU Ekaterina Rozhkova . This block also includes the department for managing the activities of the corporate non-state pension fund of the National Bank.
The Monetary Stability vertical, headed by Dmitry Sologub, has been joined by the Department of Methodology for Regulation of Non-Bank Financial Institutions.
The department of methodology for regulating the activities of banks was added to the vertical “Market operations”, which remains under the control of Yuri Gelety.
In the “Payment systems and cash turnover” vertical, the subordination of structural divisions has not changed.
