NBU’s resolution dd. September 30, 2014, No.614
The National Bank of Ukraine (the NBU) has repealed the legislative norm that says the term of inspection of a bank cannot exceed 60 business days, the resolution adopted by the NBU on September 30, 2014, No.614 specifying the procedure for making amendments to regulation on planning and procedure for inspection says, RBK-Ukraine (РБК-Україна) reports.
“To exclude the third sentence (the period of inspection of a bank cannot exceed 60 business days) in section 1, par. 1.4...”, - the resolution says.
Thus, from now on, timing, term and direction of audit will be determined by the NBU.
Additionally, the NBU has also excluded the replacement of the chair of the bank supervisory board from grounds for making external audit of a bank.
