Poroshenko gave the green light to the creation of credit registry of the NBU

President Petro Poroshenko has signed the law “On amendments to some laws of Ukraine regarding the creation and maintenance of the Credit registry of the National Bank of Ukraine and improve the processes of credit risk management of banks”.

About it reported in a press-service of the head of state.

“Credit registry information system that provides collection, accumulation, storage, amendment, use, distribution (provision) of information on credit operations of banks and fulfillment of obligations under such transactions, the analysis and qualification of loans,” – said the President.

As noted, the creation of a credit registry is provided to reduce the level of credit risk, security of banking operations, improve the reliability and stability of the banking system, protect interests of depositors and other creditors by law.

“Also have an obligation to provide the credit registry information: banks debtor, if the debt (principal amount and interest) on credit transactions is equal to or exceeds 100 minimum wages (372,3 thousand UAH.); Guarantee Fund of individuals ‘deposits on credit operations of banks in respect of which the national Bank decided to classify them insolvent, or to revoke the banking license and liquidation, as well as information on the repayment of debt of the borrower contained in the credit Bureau; providing the National Bank of Ukraine the right of access to a Bank information from Credit registry for credit risk assessment”, – stated in the text of the document.

The law shall enter into force on the day following the day of its publication and shall be enforced two months from the date of entry into force of this Law.

“In addition to the provisions concerning the obligation of banks to provide the credit registry with information on committed credit operations, effective from 1 April 2018; in relation to information submitted to the Credit registry and access to it – after 6 months from the date of entry into force of this Law, but not later than 31 December 2018; regarding the banks use information from Credit registry for credit risk assessment from 1 January 2019,” – said the press service Poroshenko.

We will remind, earlier the national Bank of Ukraine adopted a decision on the extension of the list of data on the financial condition of banks and compliance requirementsthat are subject to publication on the website of the National Bank, as well as web pages of commercial banks of Ukraine.

Poroshenko gave the green light to the creation of credit registry of the NBU

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