Rada passes at second reading bill on NBU

17:59, 19.10.2021 1 min read

The Verkhovna Rada passed at the final reading bill No. 5850 on the National Bank of Ukraine (NBU), which is necessary to close obligations to the International Monetary Fund (IMF).

The bill was supported by 255 MPs at a session on Tuesday.

As indicated in an explanatory memorandum, bill No. 5850 proposes to remove the requirement for a candidate for the position of a member of the NBU Council to reside permanently on the territory of Ukraine, as well as the requirement for a candidate for the position of NBU governor to have no criminal record.

In addition, the bill proposes to regulate the issue of the regulator's inspections of banks in relation to cash circulation, in particular in connection with the recent change in approaches to bank inspections, taking into account the SREP methodology. It is proposed to grant the NBU the right to conduct inspections in the following areas: the organization of cash work, the collection of funds and the transportation of currency values, the organization of the protection of premises and ensuring the safety of valuables.