NBU has decided to reduce the reporting burden for banks

The National Bank of Ukraine plans to gradually reduce reporting burden for banks.

This was stated by the Deputy Head of the National Bank Vladislav Rashkovan, the press service of the regulator informs.

According to him, the simplification of statistical reporting and reduction of the reporting burden on banks is a priority of the statistical function reform.

"However, this process depends on many factors, including the stability of the situation in the country: the list of reports during the brief period of relative stability differs from that in times of prolonged stability", – the deputy head of the NBU said.

"We also started the conversion of the paper reporting into electronic format," – Rashkovan said.

"In addition, the National Bank also concentrates and standardizes the methodology of statistical reporting indicators that will allow to avoid duplication and to improve data quality," – the statement of the NBU reads.

The transformation of the reporting system of the National Bank of Ukraine is expected to be completed in 2016.

Ekonomichna Pravda