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Banking & Financial Services

Policy Progress: National Bank Amended the Procedure for Assessing the Amount of Credit Risk by Ukrainian Banks

Policy Progress: National Bank Amended the Procedure for Assessing the Amount of Credit Risk by Ukrainian Banks

The American Chamber of Commerce in Ukraine welcomes the recent adoption of the Resolution of the National Bank of Ukraine (NBU) #118 "On Amendments to Certain Normative Legal Acts of the National Bank of Ukraine" dated November 15, 2021, which amends the NBU Regulation "On Determining the Amount of Credit Risk by Banks of Ukraine on Active Banking Operations", approved by the NBU Resolution #351.

This NBU Resolution takes into account the proposal of the Chamber member companies’ experts to grant banks the right to use the individual’s identification data obtained through the BankID System to develop a loan file.

The Chamber welcomes the adoption of the NBU Resolution #118 and will take every single effort for simplifying the procedure for verifying the individual’s identity. The Chamber is actively advocating for the reduction of the use of paper documents by banks through a constant dialogue with the leadership of the responsible authorities, expressing the position of the business community on these issues.