NBU approves requirements to credit intermediaries in consumer crediting area
The National Bank of Ukraine (NBU) first has approved requirements to operation of credit intermediaries of banks in the consumer crediting area.
According a report on the NBU's website, the list of the requirements includes obligatory registration in Ukraine and full civic competence, enough knowledge in the consumer crediting sphere, impeccable business reputation and meeting the requirements during the entire period of operations. Banks with which the credit intermediaries sign agreements will permanently monitor meeting these requirements.
If credit intermediaries meet all the requirements, they have the right to start operations after signing the intermediary agreement with banks and publishing this information by banks.
If credit intermediaries do not meet the requirements, banks are obliged to terminate agreements with them, submit this information to the NBU and stop issuing consumer credits via these credit intermediaries.
The amendments are outlined in NBU board resolution No. 50 on regulating operations of credit intermediaries in the consumer crediting sphere on the banking service market dated June 8, 2017. The resolution took effect on June 10, 2017.
