NBU represents updated Comprehensive Program of Financial Sector Development until 2020

NBU represents updated Comprehensive Program of Financial Sector Development until 2020

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Ukrinform
The National Bank of Ukraine (NBU) has updated the Comprehensive Program of Financial Sector Development until 2020.

Mykhaylo Vidiakin, Director of Banking System Strategy and Reform Department of the NBU stated this at a press conference, the NBU press service reports.

“Comprehensive Program is a financial sector reforms road map, it’s a “live” document; its update is a way to give a new impulse to the measures, which currently need more attention and work from regulators and market participants. Main changes in document can be divided into three areas: we extended the Program’s sphere by adding new measures and actions as a response to current challenges; we provided more detail and consolidated current Program’s measures, and reviewed the deadlines for certain measures. Therefore, reforms are under way, and they will be even more deep and comprehensive”, said Mykhaylo Vidiakin.

He also added that the structure of the program remains unchanged: three blocks for ensuring financial stability, regulators’ institutional capacity building, financial services consumer and investors’ rights protection. According to the NBU press service, financial sector regulators have performed part of activities within these blocks

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