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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of June 8, 2017 No. 50

About streamlining of activities of credit intermediaries in the sphere of consumer crediting in the market of banking services

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", to Articles 5, of the 6th Section I and part five of the Section IV of the Law of Ukraine "About consumer crediting" and for the purpose of streamlining of activities of credit intermediaries of banks in the sphere of consumer crediting the Board of the National Bank of Ukraine decides:

1. Approve:

1) Regulations on establishment of requirements to credit intermediaries of banks and their activities in the sphere of consumer crediting (further - the Provision) which is applied;

2) Regulations on provision by banks to the National Bank of Ukraine of information on the signed agreements in the sphere of consumer crediting and maintaining the list of credit intermediaries (further - Regulations on maintaining the list) which is applied.

3. To banks within 30 days from the date of bringing to data of specifications of maintaining the list of credit intermediaries:

1) to give the activities in the sphere of consumer crediting with participation of credit intermediaries in compliance with requirements of the Provision and Regulations on maintaining the list;

To provide 2) to the National Bank of Ukraine information in electronic form on all the intermediary agreements existing between bank and credit intermediaries in the sphere of consumer crediting in the market of banking services.

4. To department of methodology (Ivanenko N. V.) after official publication to bring contents of this resolution to the attention of banks of Ukraine for use in work.

5. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Rozhkova K. V.

6. The resolution becomes effective since June 10, 2017, but not earlier than entry into force of the Law of Ukraine "About consumer crediting".

Acting as Chairman

Ya. V. Smoly

Approved by the Resolution of Board of the National Bank of Ukraine of June 8, 2017 No. 50

Regulations on establishment of requirements to credit intermediaries of banks and their activities in the sphere of consumer crediting

I. General provisions

1. This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About banks and banking activity", "About consumer crediting" and establishes organization-legal bases of activities of credit intermediaries in rendering intermediary services in the sphere of consumer crediting for the benefit of loan providers banks, branches of foreign banks (further - banks), and also procedure for involvement of intermediaries by banks in the sphere of consumer crediting (further - credit intermediaries).

2. In this Provision terms are used in the values given in the Civil code of Ukraine, the Economic code of Ukraine, the Laws of Ukraine "About banks and banking activity", "About consumer crediting".

II. Requirements to bank which signs the contract with the credit intermediary

3. The bank signs the contract with the credit intermediary which conforms to the requirements established by this Provision.

4. The bank establishes the intermediary relations in the sphere of consumer crediting with the credit intermediary based on the agreement signed according to regulations of Civil and Economic codes of Ukraine taking into account the features determined by the Law of Ukraine "About consumer crediting" (further - the intermediary agreement).

The prisoner between bank and the credit intermediary shall include the intermediary agreement surely:

1) information on belonging of the credit intermediary to loan brokers or credit agents;

2) the complete list of tasks/powers which the bank transfers to the credit broker / credit to the agent;

3) conditions on which identification and verification of the consumer by the credit intermediary according to the regulatory legal act of the National Bank of Ukraine is performed (further - National Bank) concerning financial monitoring;

4) procedure of payments of the size and payment by bank of remuneration (sales charge) or other service fee of the credit intermediary;

5) information on the territory to which tasks/powers of the credit broker / the credit agent extend. If the territory of action of the credit intermediary in the agreement is not determined, then it is considered that the credit intermediary acts within the territory of Ukraine;

6) procedure for dispute settlement between bank and the credit intermediary, arising when implementing by the credit intermediary of activities in the sphere of consumer crediting;

7) procedure bank of control of activities of the credit intermediary;

8) procedure of payments of the amount of compensation and payment of the losses caused to bank owing to wrongful acts of the credit intermediary in the sphere of consumer crediting;

9) procedure for cancellation of the intermediary agreement, including in case of its early termination.

5. The bank which signs the intermediary agreement develops and approves by the decision of authorized body intra bank provision in the sphere of consumer crediting which surely includes:

1) procedure and conditions of provision by bank of consumer loan with participation of the credit intermediary;

2) the organization of work of bank with the credit intermediary and termination of work with it, including procedure for the conclusion and termination of the intermediary agreement;

3) procedure for the organization and training and advanced training of credit intermediaries and their workers;

4) procedure bank of check/control of compliance of the credit intermediary to the requirements established in Item 9 of the Section III of this Provision in case of the conclusion of the intermediary agreement and during the term of its action;

5) the list of tasks/powers which the bank transfers to the credit broker / credit to the agent;

6) the requirements to the credit intermediary providing technical capability of implementation of activities by it in the sphere of consumer crediting up to standard (availability of the computer equipment, the software, communication means, securities of electronic systems, etc.);

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