The National Bank of Ukraine, by its Resolution No. 145 of December 10, 2024 “On Approval of Amendments to the Rules for Preparation and Submission of Reports to the National Bank of Ukraine by Participants in Non-Banking Financial Services Market”, amended the Rules for Preparation and Submission of Reports to the National Bank of Ukraine by Participants in Non-Banking Financial Services Market, approved by Resolution of the NBU Board No. 123 of November 25, 2021 (as amended) (hereinafter – the Rules).
The purpose of the changes is to improve the reporting of credit unions, insurers, financial companies and pawnshops, as well as introduce reporting for non-bank financial groups in accordance with the requirements of the laws of Ukraine and regulatory legal acts of the National Bank.
The amendments to the Rules provide, in particular, for the introduction of:
- system of indicators for regulatory consolidated and sub-consolidated reporting for non-banking financial groups [nine files with reporting indicators (G01, G02, G03, G031, GF0, GF1, GT1, GT21, GT22), explanatory note to the consolidated reporting of a non-banking financial group (Annex 8 to Rules No. 123)]. The grounds are the implementation of the Regulation on the procedure for supervision on a consolidated basis of non-bank financial groups, approved by Resolution No. 202 of the Board of the National Bank of Ukraine pf December 29, 2023 (as amended), and the implementation of certain provisions of Commission Implementing Regulation (EU) 2022/2454 of December 14, 2022, which establishes implementing technical standards for the application of Directive 2002/87/EU of the European Parliament and of the Council on supervisory reporting on risk concentrations and intra-group transactions;
- four files with reporting indicators for insurers (IR23, IR24, IR25, IR26) to ensure automation of tabular data of the explanatory note to the insurer's reporting (amendments have been made to Appendix 7 to Rules No. 123);
- file with the reporting indicator for credit unions (CR21) in connection with the entry into force of the Law of Ukraine "On Credit Unions" and the fulfillment of the requirements of the Regulation on the identification of persons related to a credit union, approved by Resolution No. 5 of the Board of the National Bank of Ukraine of January 11, 2024.
In addition, amendments are planned to:
- reporting indicators of credit unions (files CR17, CR18, CR19, CR20, CR151, CR161, CR162) in connection with the entry into force of the Law of Ukraine “On Credit Unions” and the expansion of the membership criteria and types of additional share contributions of credit unions, the need to calculate prudential standards for credit unions, as well as clarification of the parameters and unclassified details of the indicator;
- list of insurers' reporting indicators (IR14, IRPL files) due to the need to align reporting indicators with the categories of receivables included in the amount of eligible assets for calculating the insurer's regulatory capital, as well as the need to align reporting indicators with the list of insurer's expense types;
- reporting indicators of financial companies and pawnshops (files LRF02, LRF04, LRF05, LRF07, LRG01, LRI01, LRL01, LRN01, LRR01) in connection with the entry into force of the Law of Ukraine "On Financial Services and Financial Companies" and the introduction of additional requirements for financial companies regarding prudential requirements and standards.
It is also stipulated that the National Bank will not draw up a document recording the violation and will not apply enforcement measures to reporting providers for untimely submission of files CR17, CR18, CR19, CR20, CR161, CR162, LRF01, LRF02 for January and February 2025, provided that these files are submitted to the National Bank in full by March 31, 2025.
Financial companies and pawnshops submit files LRF01, LRF02 to the National Bank:
- for the IV quarter of 2024 / for 2024, compiled as of the reporting date of January 1, 2025, – in accordance with the requirements of the Rules in force as of December 31, 2024, i.e. without taking into account the changes made by Resolution No. 145;
- monthly – starting from the reporting date as of February 1, 2025 (for January 2025). The deadline for submitting files with a reporting date of February 1, 2025 is no later than March 5, 2025.
The Cabinet of Ministers of Ukraine has continued funding the state program to support farmers who cultivate up to 120 hectares of land or keep up to 100 cows, 500 goats and/or sheep. Corresponding resolution No. 1407 “On Amendments to the Procedure for Using Funds Provided in the State Budget to Support Farms and Other Producers of Agricultural Products” was adopted at a regular meeting of the Cabinet of Ministers. The document was prepared by the Ministry of Agrarian Policy.
In particular, the Government has made amendments to the Procedure for the Use of Funds from the State Budget, approved by Government Resolution No. 918 of August 16, 2022. According to the Government's decision, farmers who did not receive assistance in 2024 are guaranteed the right to receive support in 2025. The deadline for submitting applications to the State Agrarian Register has also been extended, since the program's funding in accordance with the Grant Agreement is designed for two years.
The Law of Ukraine "On the State Budget of Ukraine for 2025" provides for UAH 4,726 million to continue financing the program.
Farmers will be able to receive the following assistance:
- budget subsidy of UAH 4,000 per unit (1 hectare) for agricultural activities;
- special budget subsidy of UAH 7,000 for keeping cows of all productivity levels;
- special budget subsidy of UAH 2,000 for keeping goats and/or sheep .
The Cabinet of Ministers of Ukraine has expanded the "Affordable Medicines" program within the framework of "Winter Support" for Ukrainians. Namely:
- new medicines have been included in the list. These are 30 new active substances. In particular, drugs for rheumatological, neurological, eye and endocrinological diseases ;
- the program was extended to children, and medications in the form of drops and ointments were added;
- the network of pharmacies involved in the program has been expanded. In particular, all pharmacies operating in hospitals will join it;
- the pharmacies are required to offer customers drugs at the lowest price first, taking into account the active ingredient;
- the opportunity to purchase Ukrainian-made medicines with the funds of "Winter eSupport" has been provided.
The Cabinet of Ministers of Ukraine has supported the draft Law of Ukraine “On the National Qualifications System”. This draft was developed by the Ministry of Education and Science of Ukraine with the participation of a wide range of stakeholders in order to implement part two of Article 37 of the Law of Ukraine “On Education”, point 1 of paragraph 56 of the Action Plan to implement the recommendations of the European Commission presented in the Progress Report of Ukraine within the framework of the European Union Enlargement Package 2023 and step 137 of the Government Priority Action Plan for 2024, approved by the order of the Cabinet of Ministers of Ukraine on February 9, 2024.
The draft law was developed to streamline the National Qualifications System and its legislative support, determine mechanisms for interaction between stakeholders within the National Qualifications System, regulate issues of assignment, confirmation and recognition of professional qualifications, and create conditions for maximum involvement of employers in the process of training specialists in educational institutions and other subjects of educational activity.
The draft Law defines the purpose, tasks, structures and principles of the organization and functioning of the National Qualifications System, the principles of developing a qualification framework, professional standards, forming and maintaining the Unified Register of Qualifications. The functioning of the National Qualifications System, the principles of developing a qualification framework, professional standards, forming and maintaining the Unified Register of Qualifications.
It also establishes the powers of state management bodies in the field of qualifications, in particular, it clarifies the specifics of the status, tasks and powers of the National Qualifications Agency. It also defines the tasks and rights of sectoral councils for the development of professional qualifications, the procedures for accreditation and activities of qualification centers, the general principles of awarding, confirming, and recognizing professional qualifications, in particular those obtained through non-formal and informal education, as well as the awarding and confirming of educational qualifications, in particular partial ones.
In accordance with the Council of Europe Recommendation (COUNCIL RECOMMENDATION of 16 June 2022 on a European approach to micro-credentials for lifelong learning and employability (2022/C 243/02)) introduces the concept of nicro-credentials, the features of their acquisition and assignment.
