NBU intends to make changes to reporting by insurers, other non-banking market participants in Ukraine

MOSCOW. Nov 6 (Interfax) - 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, Ukrainian media quoted a statement on the bank's website.

In particular, the NBU proposes amending the list of the 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 credit unions, the changes will affect the reporting indicators of files CR17, CR18, CR19, CR20, CR151, CR161, and CR162 and the introduction of the file with the reporting indicator (CR21) due to the provisions of the law on credit unions and expanding the indications and types of additional contributions of credit unions.

There are also plans to amend the reporting indicator files LRF02, LRF04, LRF05, LRF07, LRG01, LRI01, LRL01, LRN01, LRR01 of financial companies and pawnshops due to the regulations of the law on financial services and financial companies and the introduction of additional requirements for financial companies on prudential standards.

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.