Purpose:
- Supporting systemic changes in the Ukraine’s economy by transforming the country’s financial sector into a well-functioning competitive market that meets EU standards and is integrated into international financial systems, namely: ensuring the resilience of the financial sector in wartime and during post-war restoration
- providing support for Ukraine’s European integration and fulfilment of international obligations
- building trust and transparency in the financial sector and the independence of its regulators
- increasing the supply of finance to businesses in cooperation with a wide range of financial intermediaries, including banks, leasing companies, insurance and investment companies, and other companies that raise funds and channel them into productive investments
- providing direct financial and technical assistance to businesses that have a great potential to increase domestic sales and exports, as well as to create new employment opportunities for Ukrainians
- helping businesses to access a variety of financial products (loans, leasing, insurance policies) and expanding access to mixed finance on acceptable terms and conditions to support their operations
- supporting and collaborating with other US government and development partners to ensure integrity and combat illicit financial flows, money laundering and corruption
- promoting competition and inclusion of all individuals and businesses, including those owned, operated, managed, or served by women and other traditionally excluded groups.
Components:
- market regulation, supervision
- financial infrastructure
- private sector intermediaries and facilitators
- transparency and communications
- promoting the attraction of new investments
Products implemented for the NBU and key events:
"BankID" area:
- the results of a survey of 31 Ukrainian banks that are subscribers to the NBU’s BankID system were analyzed to investigate and assess whether they comply with all necessary procedures related to electronic identification tools and the requirements of the EU Regulation on electronic identification and trust services for electronic transactions within the EU internal market (eIDAS), which are intended for medium-security electronic identification schemes
- the final audit report (MS AUDIT REPORT), Non-Conformances Report and Recommendation Report have been prepared. The compliance of the BankID System of the NBU with the requirements of the EU established by the eIDAS Regulation (EU 910/2014) to electronic identification schemes was assessed on the basis of information received from the NBU (regulatory documents, completed questionnaires, meetings) and from subscriber banks – identifiers based on the results of their survey.
"Factoring" area:
- expert comments on the concept of the NBU "New regulation of factoring in Ukraine" and the draft law of Ukraine "On Factoring" are provided;
- participation in the Trade Factoring Conference (Morocco, 2023) was ensured
- round table discussion "Impact of late payments on the Ukrainian economy and access to financing: problems and possible ways to solve them" was held, during that a representative of the NBU spoke.
Military and Political Risk Insurance area:
- round table "Establishment of a mechanism for insurance of military and political risks in Ukraine" was held
- a webinar on "Insurance of military and political risks" was held
- the results of Task 1 "List of key reinsurers with justification" on the analysis of the legal terminology of the international reinsurance market and the development of certain documents to ensure a unified approach to insurance of risks of politically motivated violence in Ukraine" are presented.
Implementation of the Integrated Supervision Platform (ISP) area:
- a marketing study on the implementation of the ISP was conducted, the amount of necessary funding was determined, and support was provided in the preparation of the terms of reference for the development of the ISP for further implementation of the tender purchase for the implementation of an integrated solution for automating the processes of prudential supervision of financial institutions.
Improving the Regulation of Financial Leasing in Ukraine area:
- a regulatory matrix was obtained with an overview of eight jurisdictions (Poland, Austria, Germany, Belgium, Romania, Spain, Cyprus, Croatia) in the area of leasing regulation, as well as an overview for Ukraine
- a report-analysis of financial leasing regulation in some EU countries and recommendations for Ukraine was obtained.
Risk Management for a Particular Category of NBFIs area:
- comments were received on the draft Regulation of the NBU on requirements for the corporate governance system and internal control system of a financial company and amendments to some regulatory legal acts published by the NBU for public discussion;
- a draft study on the requirements for risk management systems for non-bank financial companies that do not attract funds from individuals was received.
Communications area:
- a national sociological survey of the level of trust in the NBU was conducted (a national public opinion survey on awareness, perception, sources of information and attitude to the NBU and the brand of the NBU)
- support was provided for the World Money Week 2022, 2023 and 2024 (providing branded products for educational initiatives for educational institutions of Ukraine), the Marathon of Good Deeds contest for educational institutions of Ukraine
- support was provided for the implementation of financial literacy conference FinLit Forum
- support was provided for conducting an information campaign (including the Marathon of Ambassadors initiative), events dedicated to the Hryvnia Day, the first numismatic annual conference Money & Banking: money and banks in the history of Europe, Savings Day, All-Ukrainian information campaign on Payment Security #Cybersecurity of Finance, Payment Security Month, All-Ukrainian information campaign ZnaiSvoiPrava (Know Your Rights): Insurance, as well as for the creation of an advent calendar of the NBU's Money Museum and an advent calendar on payment security
- the concept and design of technical equipment of the NBU's Communication Centre has been prepared
- a sociological survey on payment security was carried out.
Other activities:
- a preliminary market research of software developers for the implementation of the Automated Process Management System (APMS) at the NBU was carried out
- support was provided for the NBU’s certification according to the international standard ISO 37001:2016 Anti-Corruption Management Systems. Requirements and Guidelines for Implementation. A certificate of compliance of the established anti-corruption management system with the requirements of the international standard ISO 37001:2016 was obtained
- a systematic analysis of the current state of the IT function, information security, and IT architecture of the Settlement Centre for Financial Market Contracts was carried out. A target model was defined and a plan was developed for the phased improvement of the IT infrastructure of the Settlement Centre for Financial Market Contracts as a central counterparty to reduce risks and potentially introduce new services
- support was provided for the organization and holding of the VIII annual research conference
- a generator and uninterruptible power supplies were purchased for the needs of the NBU.