The Cabinet of Ministers of Ukraine has approved authorizing the National Bank of Ukraine (NBU) to create and keep the credit register.

The draft amendments to some legislative acts regarding the establishment and maintenance of the NBU credit register was approved at a government meeting on Wednesday.

Within the new powers, the central bank will be able to receive information from banks and the Individuals' Deposit Guarantee Fund on legal entities and individual businessmen that are parties of credit operations; use this information for the purposes of banking regulation and supervision; provide banks and the credit history bureau with the information from the register specified in the bill.

In addition, the National Bank will be able to set limits of the borrower's debt to the bank, and if they are exceeded, the bank must place the information on the credit operation with these clients to the credit register.

The bill also regulates the legal grounds for disclosing information from the register by the central bank, which will be provided to banks and the credit history bureau and contains bank secrecy.

According to the bill, the debtor-client of the bank will have the right to access information about himself and the right to demand making changes to the information in case of disagreement with its content.