President signs law on creation of NBU Credit Register

President signs law on creation of NBU Credit Register

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Ukrinform
President Petro Poroshenko has signed the law on the creation of a Credit Register of the National Bank of Ukraine, the president’s press service reports.

“President Petro Poroshenko signed the Law of Ukraine as of February 6, 2018, No.2277-UІІІ “On amendments to certain laws of Ukraine concerning the creation and keeping of the Credit Register of the National Bank of Ukraine and improvement of credit risk management processes of banks,” reads the report.

In particular, the bill aims at reducing the level of credit risks, ensuring the security of banking operations, raising the level of reliability and stability of the banking system so that to protect the interests of depositors and other creditors of the bank.

The document provides the National Bank of Ukraine with the authority to create and keep the Credit Register. In particular, the NBU will receive from banks and the Deposit Guarantee Fund the information about borrowers and will provide banks and the credit history bureau with the necessary information from the Credit Register.

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