OREANDA-NEWS. The Committee on Banking Supervision and Regulation, Payment System Monitoring (Oversight) has amended  Resolution No. 657, dated 31 December 2015, by expanding the criteria for identifying banks belonging to foreign banking groups.   The Committee has issued Resolution No. 1 to this effect.

Following the disclosure of the new criteria for splitting banks into groups, the practical applicability of this approach  was discussed with users of statistical information. After reviewing the proposals, it was decided to expand the criteria so that the grouping of banks would provide a more clear picture of the origin of capital and the corporate governance structure within the group.  Under the new criteria, banks belonging to foreign banking groups comprise banks in which majority stakes are held foreign banks or foreign financial and banking groups holding a controlling stake in at least one banking institution.

Therefore, the following six banks have been additionally included into the group of banks belonging to foreign banking groups:  ALFA-BANK  PJSC, UNIVERSAL BANK  PJSC, PROCREDIT BANK PJSC, NEOS BANK PJSC, IDEA BANK  PJSC and Bank FORWARD PJSC.  

The classification of banks into groups is used by the NBU for analytical purposes to assess performance indicators across the groups of banks and capture the overall trends in the banking sector.   This classification is not directly used for supervisory purposes and it does not impact the operational requirements for banks.