Technical Assistance in Financial Sector’s Priority Areas, Ukraine (EU-FINSTAR)

Funded by: EU

Period: 2015 – 2019

The aim of the project was to support the strengthening of the financial services sector in Ukraine and its adaptation to the European and international standards. The project activities aim to ensure implementation of the Association Agreement and contribute to the creation of an integrated, open, competitive and efficient financial services sector.
The EU project experts work with the beneficiaries to:

  • Implement internationally-recognised financial reporting data taxonomies enabling comparisons and increasing transparency in the financial sector;
  • Enhance the National Bank of Ukraine’s framework for statistics
  • Implement Consolidated Supervision for financial firms based on best European Union practices and standards
  • Develop the National Bank of Ukraine’s capacity as a financial stability supervisor to assist in developing instruments and implementing strategies for interventions to manage and mitigate systemic risk).
  • Support the National Bank of Ukraine in implementing and controlling the environment required to enable the free flow of capital
  • Support in strengthening the organisational set-up and the regulatory framework for the audit profession;
  • Support the updates of Ukrainian accounting standards for annual and consolidated accounts of companies;
  • Support the implementation of an investor compensation scheme for Ukraine’s securities market and
  • Assist the National Bank of Ukraine in enhancing its regulatory framework by Basel II/Pillar 2 implementation.