In a keynote speech at the AFME European Financial Integration Conference, National Bank of Ukraine First Deputy Governor Sergiy Nikolaychuk said the central bank is continuing to integrate Ukraine into the EU financial framework during wartime, with a target of broad alignment of the financial regulatory framework with the EU acquis by the end of 2027. He presented this as an active supervisory and legislative agenda rather than a post-war plan, and said the National Bank of Ukraine is also preparing to adopt a third-party risk management framework shortly. Nikolaychuk said the banking sector’s wartime resilience rests on earlier reforms including stronger supervision, governance, stress testing, recovery planning and business continuity requirements, and that Ukrainian banks’ regulatory equivalence with EU standards rose from 50% to 78% between 2022 and 2025. He said the forward agenda covers further banking convergence with CRR and CRD, stronger Pillar II and Pillar III frameworks, capital buffers, ESG risk management, securitization and, when conditions allow, bank recovery and resolution rules, alongside insurance alignment with Solvency II and broader work on DORA, SEPA, payment services, market infrastructure, investor protection and capital market development. The National Bank of Ukraine’s internal European integration plan contains around 100 objectives and nearly 200 tasks, with more than half linked to the Financial Services negotiation chapter, and Nikolaychuk said the next two years will require legislative and regulatory work in "turbo mode". On operational resilience, he pointed to the wartime Power Banking network, under which nearly every second bank branch now operates with backup power and alternative connectivity, and said the third-party risk framework is based on international standards and Basel recommendations, with market consultation under way and adoption planned shortly.
National Bank of Ukraine2026-05-19
National Bank of Ukraine targets broad alignment with EU financial rules by end-2027 and prepares third-party risk framework
The National Bank of Ukraine First Deputy Governor Sergiy Nikolaychuk said the central bank is pursuing wartime integration into the EU financial framework, targeting broad alignment with the EU acquis by end-2027 and preparing to adopt a third-party risk management framework based on international standards and Basel recommendations. He reported that Ukrainian banks’ regulatory equivalence with EU standards rose from 50% to 78% between 2022 and 2025 and outlined further convergence with CRR/CRD, Pillars II and III, capital buffers, ESG risk, securitization, bank recovery and resolution, Solvency II, DORA, SEPA, payment services, market infrastructure, investor protection and capital markets.