The National Bank of Ukraine (NBU) has become a member of the Basel Consultative Group (BCG), the outreach arm of the Basel Committee for Banking Supervision (BCBS), the NBU has reported on its website.
“The BCG aims at attracting supervision officials of the countries which are not committee members to the discussion of new proposals of the Basel Committee. Members of the BCG are central banks and supervision agencies of 28 countries, and the NBU is now among them,” the central bank said.
Director of the financial stability department Vitaliy Vavryschuk would represent the NBU in the BCG.
“Joining the Basel Consultative Group, the NBU is now able to participate in a broad professional dialogue, exchange of views and experience on the implementation of the banking regulation and supervision policy. From now on, the NBU will be able to participate in the development of Basel Committee initiatives, express its proposals and visions, taking into account the specifics of banking systems of developing countries,” the press service of the NBU said, citing Vavryschuk. (Interfax-Ukraine/Business World Magazine)