Ukraine: NBU prepares changes to reporting by insurers and other non-banking market participants

7 November 2024 — Daniela GHETU
The National Bank of Ukraine (NBU) has drafted and proposed for public discussion amendments to the rules of compiling and submitting reports by participants of the non-banking financial services market, Interfax reports.

In particular, the NBU proposes amending the list of reporting indicators of files IR14, IRPL presented by insurers due to the need to bring the reported indicators in line with the categories of receivables included in the amount of eligible assets for calculating the insurer's regulatory capital and the need to bring the reporting indicators in line with the list of types of credit unions' expenses.

At the same time, four files with reporting indicators (IR23, IR24, IR25, and IR26) for insurers are introduced to ensure automation of tabular data of the explanatory note in the insurer's reporting (amendments have been made to Annex 7 to the Rules).

For non-banking financial groups, a system of regulatory consolidated and sub-consolidated reporting indicators is expected to be introduced.

The bank also said that all changes are associated with the need to bring the rules in line with the requirements of the Ukrainian laws and NBU regulations to improve the reporting of credit unions, insurers, financial companies and pawnshops, as well as introduce reporting for non-banking financial groups.

Comments and suggestions to the draft resolution are accepted until November 15, 2024.

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