The National Bank of Ukraine participated in a bilateral screening meeting with the European Commission in Brussels under EU accession Negotiating Chapter 9 Financial Services, presenting its self-assessment of how far Ukraine’s financial services legislation is harmonized with the EU acquis and its plans for further implementation. The discussion covered banking and financial conglomerates, financial market infrastructure, securities markets and investment services, insurance, sustainable finance and digital finance. The NBU reported a high level of banking-sector alignment and cited more than 74% regulatory compliance in its self-assessment, alongside implementation work on capital requirements, governance and internal controls, reporting, insurance regulation and mortgage lending. It also described insurers’ mandatory use of International Financial Reporting Standards as supporting substantial implementation of the Insurance Accounting Directive, noted partial implementation of the Bank Recovery and Resolution Directive and the EU framework for household deposit guarantees, and outlined further payments-law alignment including planned rules on payment fees and access to payment accounts, as well as planned implementation of the Digital Operational Resilience Act. The Ukrainian side additionally briefed on anti-corruption measures, including an anti-bribery management system certified to ISO 37001:2016, and referred to the NBU-initiated POWER BANKING network of about 2,400 branches designed to operate during blackouts. The European Commission will use the bilateral screening outcomes to prepare screening reports for deciding whether to open negotiations in Cluster 2 Internal Market.
National Bank of Ukraine 2025-02-19
National Bank of Ukraine presents European Commission with assessment of aligning financial services laws with the EU acquis for accession screening
The National Bank of Ukraine met with the European Commission in Brussels to discuss Ukraine's alignment with EU financial services legislation under EU accession Negotiating Chapter 9. The NBU reported over 74% regulatory compliance, highlighting progress in banking-sector alignment, capital requirements, and insurance regulation. The European Commission will use these outcomes to prepare screening reports for potential negotiations in Cluster 2 Internal Market.