Drawing on best practices of
the EU inter-departmental authorities for financial stability, the Financial
Stability Council starts publishing the Annual Report
on its activities. The First report covers the period from
April 2015 through March 2016.
The first meeting of the Council
took place on 27 April 2015. During the year the Council held six meetings,
including 2 extraordinary meetings convened to address
urgent issues posing risks to the financial sector.
At each Council meeting the
NBU provided insight into risks threatening the stability of Ukraine's
financial system. The
restructuring of sovereign debt, cooperation with foreign donors, the coordination
of efforts of the NBU and the Government to ensure price stability, the
financial sector clean-up process, the development strategy for state-owned
banks, and audit reforms, as well as strengthening the capacity of the National
Securities and Stock Market Commission and the Deposit Guarantee Fund were
among other issues addressed at the meetings.
The Annual Report will be published on a
regular basis at the end of the second quarter of each year. The Secretariat
established at the NBU Financial Stability Department provides information,
analytical and administrative support to the Council.
The Financial Stability Council was
established by the Presidential Decree in March 2015. The Council comprises the Governor of the National Bank
of Ukraine, the Minister of Finance of Ukraine (co-chairs of the Council), Head
of the National Securities and Stock Market Commission, Head of the National
Financial Services Commission, Managing Director of the Deposit Guarantee Fund, First Deputy
Governor of the National Bank of Ukraine, and Deputy Minister of Finance of
Ukraine. The Council provides a forum for professional discussion
of risks posing a threat to the country’s financial stability. The
Council has held two meetings in 2016. The next meeting has
been scheduled for May 2016.