BANKING ACTIVITIES IN UKRAINE: LEGAL ASPECTS
Journal Title: Юридичний бюлетень - Year 2018, Vol 7, Issue 2
Abstract
The article covers the legal aspects of banking in Ukraine. It has been determined that, like in other branches of law, banking legislation is not perfect, and therefore there is a need to clarify the existing financial-legal categories and institutions, as well as constant correction in accordance with new modern requirements of society. The circle of domestic scholars who devote their studies to the various aspects of banking legislation was named. The analysis of the Ukrainian legislation provides grounds for arguing that such a category as banking activity is enshrined in the Law of Ukraine “On Banks and Banking Activities” of 2000. It is emphasized that the current legal field covers all areas of banking activity, which contributes to the maximum protection of rights and interests, as clients, and the banking institutions themselves. These are the main regulatory documents regulating the activities of banks in the territory of Ukraine. It is noted that the banking system of Ukraine is two-tier: the higher level is the National Bank of Ukraine, the poorer level – state, commercial, nationalized banks, branches of foreign banks. The main tasks of the central bank outlined in the Law of Ukraine “On the National Bank of Ukraine” in 1999 were presented in the article. It is noted that two state-owned banks of Ukraine, Oschadbank, Ukrksimbank and one commercial PJSC CB Privatbank are recognized as systemically important in Ukraine. The statistical data on the number of active banks in the territory of Ukraine for the period from 2008 to 2018 are analyzed. The official statistics of the Ministry of Finance of Ukraine were analyzed and the conclusion was made that a sharp decrease in the number of banks in Ukraine occurred in 2016 mainly due to banks with foreign capital. The attention is paid to the fact that functioning of the banking system in the legal field is a guarantee of the financial and economic development of our state. The modern achievements are also outlined: reduction of the number of non-competitive banks in Ukraine; in connection with Russia's foreign aggressive policy towards Ukraine, there is a ban on banking activities on Ukrainian territory by Russian banks; the gaps in consumer lending regulation have been resolved; the main directions of activity of the National Bank of Ukraine are concentrated in the framework of monitoring compliance with the rules of functioning of the banking system and its development.
Authors and Affiliations
Юлія Василівна Кузьменко
Keywords
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