LAW OF UKRAINE

of February 6, 2018 No. 2277-VIII

About introduction of amendments to some laws of Ukraine concerning creation and maintaining the Credit register of the National Bank of Ukraine and enhancement of processes of management of credit risks of banks

The Verkhovna Rada of Ukraine decides:

I. Make changes to such laws of Ukraine:

1. In the Law of Ukraine "About the National Bank of Ukraine" (Sheets of the Verkhovna Rada of Ukraine, 1999, No. 29, Art. 238 with subsequent changes):

1) in the last paragraph of Article 1 of the word "essential participation" shall be replaced with words "essential participation, the Credit register of the National Bank of Ukraine";

Item 9 of Article 7 to add 2) with the words "creates and keeps the Credit register of the National Bank of Ukraine".

2. In the Law of Ukraine "About banks and banking activity" (Sheets of the Verkhovna Rada of Ukraine, 2001, No. 5-6, of Art. 30 with subsequent changes):

1) in Article 2:

add taking into account alphabetic procedure with the term of the following content:

"the credit register of the National Bank of Ukraine (further - the Credit register) - the information system providing collection, accumulating, storage, change, use and distribution (provision) of information on credit operations of banks and about condition of accomplishment of obligations on such transactions, the analysis and classification of the credits";

in determination of the term "creditor of bank" to replace the word of "debtor" with the word of "bank";

Article 49 to add 2) with part eleven of the following content:

"The bank uses information from the Credit register for assessment of credit risk";

Article 62 after part nine to add 3) with new part of such content:

"The National Bank of Ukraine shall provide to banks information access from the Credit register which is bank secrecy which consists of the data determined by part eleven of article 67-1 of this Law".

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