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Legal Instruments of Regulation of Development of Banking Activity in Ukraine


  • Senyshch Pavlo M.

    () (National Bank of Ukraine)


The article considers main approaches to identification of essence of legal instruments of regulation of development of the banking activity, identifies the mechanism of legal regulation of the banking activity and its elements and justifies the system and form of legal regulation of the banking activity in Ukraine. It describes subjects of legal regulation of the banking activity at the international level, which are the Basel Committee on Banking Supervision, European Central Bank, IMF, International Financial Reporting Standards Foundation and others. The article considers specific features of the regulatory requirements of Basel II and Basel III and specific features of their introduction into the banking activity. It describes anti-cyclic measures offered by the Basel Committee, which should facilitate formation of such conditions, under which the banking sector could have a lower level of leverage and stability with respect to influence of system risks. Significant attention is paid to international instruments of regulation of the banking activity, which include the following legal acts: Uniform Rules for Collections, Uniform Customs and Practice for Documentary Credits, and Unified Rules for Loan Guarantees. The article shows that the share of subordinate legal acts is significant in the Ukrainian system of banking regulatory and legal acts since the state cannot operatively react to the changing processes in banking at the legislative level and, that is why, basic provisions on carrying out banking activity should be fixed in law.

Suggested Citation

  • Senyshch Pavlo M., 2014. "Legal Instruments of Regulation of Development of Banking Activity in Ukraine," Business Inform, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), Kharkiv National University of Economics, issue 3, pages 325-329.
  • Handle: RePEc:idp:bizinf:y:2014:i:3:p:325_329

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