Pawn shops will have more freedom from the NBU


							Ломбарды получат больше свободы от НБУ

The national Bank plans to liberalize the supervision of non-Bank institutions that do not attract customer funds. For companies that do not bear the risk of the creditor, will not apply stringent prudential requirements on capital and liquidity, reports FinClub.

“There is a financial non-Bank institutions that do not carry the risk of lenders is a pawn, leasing companies, factoring and financial companies, which do not attract client funds. For these companies, from our point of view, it is necessary to liberalize the supervision … the Primary law will be the law on protection of consumer rights”

— Ekaterina Rozhkova

the first Deputy head of NBU

Also, the NBU plans to facilitate the obtaining of licenses for different types of operations.

“For example, today the pawnshop is a separate activity. They can have other licenses. But as it happens: two companies — Lombard currency exchange — open on the same site and working together. In fact, there are norms that need to change, and the market is liberalized. The result is that it will increase competition and improve the quality of services”

— Ekaterina Rozhkova

the first Deputy head of NBU

For other companies the requirements will be made jointly by the regulator and market participants.

“We will work with industry to develop a road map: how are we going to enter into normal regulation. After that, we will define a transitional period for institutions — how they will achieve the values and standards”

— Ekaterina Rozhkova

the first Deputy head of NBU

Earlier it became known that the national Bank can create conditions for the transition of non-Bank institutions in the category of banks.

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