It is registered
Ministry of Justice of Ukraine
November 27, 2019
of September 19, 2019 No. 1840
About approval of the Regulations on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of credit unions and recognition No. 7 which voided the order of State commission on regulation of the markets of financial services of Ukraine of January 16, 2004
According to item 4 of part one of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services" and to Item 13 of the Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. approved by the Presidential decree of Ukraine of November 23, 2011 1070, the National commission performing state regulation in the sphere of the markets of financial services, POSTANOVILA:
2. Declare invalid the order of State commission on regulation of the markets of financial services of Ukraine of January 16, 2004 No. 7 "About approval of the Regulations on financial standard rates of activities and criteria of quality of management system of credit unions and joint credit unions", registered in the Ministry of Justice of Ukraine on February 3, 2004 for No. 148/8747 (with changes).
3. To submit to department of regulation and supervision of credit institutes together with department of legal providing this order to the Ministry of Justice of Ukraine for state registration.
4. And members of the commission to provide to management of ensuring activities of the Chairman publication of this order after its state registration.
5. This order becomes effective in 90 calendar days from the date of its official publication, except Item 3 of the Section III of the Provisions on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of credit unions, approved by this order which becomes effective since June 30, 2020.
6. Till December 31, 2020 (inclusive) subitems 5, of the 6th Item 9 of the Section VI of the Regulations on the obligatory financial standard rates and requirements limiting risks on transactions with financial assets of credit unions, approved by this order are not applied to credit unions under condition if the size of reserve of providing covering of losses from not returned loans of such credit union as of December 31, 2019 increased more than by 25 percent in comparison with December 31, 2018 and in the presence of the relevant decision of general meeting of credit union members.
7. Control over the implementation of this order to assign to the member Natskomfinuslug Maksimchuk A. V.
It is approved:
Acting as Chairman of the Antimonopoly Committee of Ukraine
Approved by the Order of the National commission performing state regulation in the sphere of the markets of financial services of Ukraine of September 19, 2019 No. 1840
1. This Provision is intended for ensuring stable activities of credit unions, timely accomplishment of obligations to the members by them, and also prevention of possible losses of the capital through the risks inherent in activities of credit unions.
2. This Provision establishes the requirements limiting risks on transactions with financial assets and financial standard rates and procedure for their calculation which are obligatory for accomplishment by all credit unions:
1) capital adequacy ratios:
the standard rate of financial stability (To 1);
capital adequacy ratio (To 2);
buffer of inventory of the capital (B);
2) standard rates of credit risk:
the standard rate of credit risk (To 3);
the standard rate of concentration of credit risks (To 4);
3) the standard rate of inventory of liquidity (To 5);
4) requirements which limit risks of credit unions on transactions with financial assets;
5) procedure for forming and use of reserve of providing covering of losses from not returned loans and procedure for covering of losses.
4. In this Provision terms are used in such value:
book value of all assets - result of balance sheet assets (the report on financial condition) according to international accounting standards (further - IFRS);
fee (contribution) into the deposit account - the money deposited in credit union by his members on terms of the contract for certain term or on demand and under percent on the terms of issue on the first demand of or return after the term established by the agreement;
default - failure to carry out by the credit union member of terms of the contract of the credit. Characterizes inability of the credit union member to fulfill the obligations;
credit risk - risk that the credit union member who received the credit from credit union will not be able to fulfill the undertaken agreement obligations of the credit;
liquidity - capability of credit union to provide timely accomplishment of the monetary commitments which is determined by balance between terms and repayment sums of the placed assets and terms and the amounts of accomplishment of obligations, and also the amounts of other sources and the directions of use of money by credit union;
unproductive assets - assets of credit union on their book value which provide activities of credit union, but do not yield revenue, namely: intangible assets, fixed assets, inventories, goods, receivables by calculations, cash in cash desk, the other assets which are not bringing in the income to credit union. The asset from right to use in the amount of, not exceeding the size of the corresponding obligation does not belong to unproductive assets;
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