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The document ceased to be valid since  March 12, 2020 according to Item 2 of 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

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Ministry of Justice of Ukraine

February 3, 2004

No. 148/8747

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

(as amended on 26-04-2016)

For the purpose of ensuring stable activities of credit unions and consumer protection and according to item 4 of part 1 of article 28 of the Law of Ukraine "About financial services and state regulation of the markets of financial services" State commission on regulation of the markets of financial services of Ukraine POSTANOVILA:

1. Approve Regulations on financial standard rates of activities and criteria of quality of management system of credit unions and the joint credit unions it (is applied).

2. To legal management (Tkachenko D. V.) together with department of supervision of credit institutes (Olenchik A. Ya.) provide provision of this order in the Ministry of Justice of Ukraine for state registration.

3. And public relations (Nagornyak M. V.) to provide to department of interaction with mass media the publication of this order in mass media after its state registration.

4. Control of execution of the order to assign to the member of the commission - the director of the department of supervision of credit institutes Olenchik A. Ya.

Commission chairman

V. Suslov

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine of January 16, 2004 No. 7

Regulations on financial standard rates of activities and criteria of quality of management system of credit unions and joint credit unions

This Provision is developed according to item 4 of part 1 of Article 28 and article 29 of the Law of Ukraine "About financial services and state regulation of the markets of financial services", articles 20, of 21 Law of Ukraine "About credit unions", subitems 18, of 20, of the 76th item 4 of the Regulations on the National commission performing state regulation in the sphere of the markets of financial services, No. 1070 approved by the Presidential decree of Ukraine of November 23, 2011.

Section 1. General provisions

1.1. This provision is intended for ensuring stable activities of credit unions and joint credit unions (further credit unions), timely accomplishment by them of obligations to the members, and also prevention of possible losses of the capital through the risks inherent in activities of credit unions.

The provision establishes standard rates concerning the capital, solvencies, qualities of assets, risk-takings of transactions, profitability and liquidity, procedure for forming and use of insurance reserve, and also criteria of quality of management system.

The credit union can approve the additional standard rates and criteria regulating separate aspects of its activities according to the legislation and the charter.

If the credit union claimed additional standard rates and criteria, except those which are determined by this Provision, it shall provide copies of provisions and/or decisions of governing bodies which establish such additional standard rates and criteria, in Natskomfinuslug within fifteen working days after their approval.

1.2. Determination of concepts:

the assets weighed on risk - the total assets weighed on risk degree of individual clauses of balance;

the hopeless credit - the delayed or not returned credit on which there is documentary confirmation about impossibility of collection; not returned credit on which there passed the term of limitation period; overdue loan on which the credit committee makes reasoned decision on recognition of the credit by hopeless; not returned credit, except cases when the credit committee makes reasoned decision on delay of recognition of the credit by hopeless;

the admission fee - the compulsory nonrefundable fee which is brought by person disposable in case of its accession to credit union and is one of conditions of acquisition of membership in credit union;

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