The National Bank proposes changes to the rules governing the disclosure of banking and financial secrets
28 June 13:11
The National Bank of Ukraine has submitted for public comment a draft amendment to the regulatory acts governing the disclosure of bank secrecy, the confidentiality of payment service providers, and financial and insurance secrecy. This was reported by "Komersant Ukrainian", citing the NBU.
The draft provides for updating the procedure for banks to disclose information constituting banking secrecy, by bringing the Rules for the Storage, Protection, Use, and Disclosure of Bank Secrecy into line with updated legislative requirements, as well as standardizing the procedures for the National Bank to obtain confidential information from entities under its supervision, with the aim of enhancing the effectiveness of the National Bank’s performance of its functions.
To this end, amendments will also be made to a number of the National Bank’s regulatory acts, in particular:
- the Rules on the Storage, Protection, Use, and Disclosure of Payment Service Provider Confidentiality;
- Regulations on the Confidentiality of Financial Services;
- Regulations on Insurance Confidentiality.
Key Details of the Draft:
- The Rules on the Storage, Protection, Use, and Disclosure of Banking Confidentiality have been supplemented with provisions regarding the procedure for banks to provide information on the term of a bank deposit and the type of account held by a legal entity, individual, or individual entrepreneur upon request from state enforcement agencies and private enforcement agents;
- The provision specifying that a bank, financial services provider/intermediary, payment services provider, and insurer are required to provide the National Bank with confidential information in the form of documents and copies of documents specifically during inspections or on-site audits conducted by the National Bank and during its off-site supervision.
Comments and suggestions on the Draft are accepted in accordance with the form for submitting comments and suggestions through July 6, 2026, inclusive.
