What the adopted law gives:
- The quality of work of Ukrainian banks is improving;
- Protection of the rights of depositors and other creditors is strengthened;
- Adapts banking legislation to the legal norms of the European Union: strengthens corporate governance in banks by increasing the responsibility of the board and the board of a financial institution for decisions;
- Expands the list of tasks related to the exclusive competence of the bank's council;
- Establishes requirements for members of the bank's council and board regarding their collective suitability;
- Introduces a three-tier internal control system of the bank for integration into the corporate governance system;
- Prescribes a new structure of the bank's capital, including the requirements for the formation of capital buffers;
- Establishes requirements for the adequacy of the bank's internal capital and liquidity, taking into account possible risks;
- Expands the powers of the National Bank in the field of supervision;
- Tightens requirements for licensing of banks and shareholders.
